LUNC News: Terra Rebels Announces Proposal To Separate From TFL, Do Kwon
Terraform Labs to transition from “Terra Station” to “Station” as part of becoming a cross-chain wallet application for Terra and Feather/Alliance chains and support decentralization. Terra Rebels claims Terra Classic (LUNC) network will lose Terra Station support and requires extensive and costly L1 work to become compatible with the new Station.
Meanwhile, LUNC DAO asserts that it’s up to the Terra Classic community and Terra Rebels to integrate with TFL’s new Station for free and gain the benefits of IBC channels. The current Terra Station, Trust Wallet, XDefi, Rebels Station, and others will continue to support LUNC.
FUD in the Terra Classic Community
Terra Rebels has already shared in the Terra Classic Revival Roadmap that the community wants to separate from the TFL and Do Kwon. However, the untimely situation has created FUD in the Terra Classic community.
TFL asked Terra Rebels to change the wallet prefix, perform parity upgrades, and create new IBC channels and relayers with the V2 chain by December 15th in order to obtain support on cross-chain Station. It will continue to provide client support for Terra Station interfaces.
However, Terra Rebels has submitted a community pool spend proposal to make the community move to Rebel Station. Terra Station will cease support of LUNC over a period of time. TFL’s Jared shared that the internal deadline is December 14 as the team has been working on it for the last 3 weeks and conveyed the same with Terra Rebels.
Terra Rebels’ proposal needs two months of work and costs $150,000 to the Terra Classic community. Meanwhile, the community remains skeptical over whether the developers could be trusted. However, LUNC is not stored on Terra Station or Rebels Station, but on the Columbus 5-based chain.
Moreover, it is easy for users to transition their wallets to the Rebel Station by using their mnemonic phrases or importing their private keys. There is no need to unstake or move coins.
LUNC Price Remains Stable
Despite the FUD related to Terra Station ending Terra Classic support, LUNC price remains stable. At the time of writing, LUNC price is trading at $0.0001722, down 2% in the last 24 hours.
Also Read: Terra Classic Edward Kim On Reopening IBC Channel, Proposal 10983
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