Terra Classic Community Veto Against “Six Samurai” Team Proposal To Revive LUNC, Here’s Why

Varinder Singh
June 29, 2023
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LUNC News: Terra Luna Classic Community Brings Crucial Proposal in Focus

The Terra Classic community completely turned down the proposal to form the Terra Allies team of 6 senior engineering full-stack developers known as “Six Samurai“. While the community members agreed with innovative L1 and L2 developments shared in the $116,000 three-month spend proposal, most voted “No with veto“. This means the community disagrees with funding this team and its work on LUNC.

Proposal 11600 “Terra Allies ‘Six Samurai’ Senior Engineering Team (L1/L2 Q3 Bid & Proposal)” received 57% “No with veto” and 36% “No” votes. The proposal only received 7% “Yes” votes. The proposal has completely failed to gain support from validators and other developers. Popular validators such as Happy Catty Crypto, Classy’s Sphere, Lunanauts, JESUSisLORD, StakeBin, and others rejected the proposal.

The community cited valid reasons to reject the Six Samurai team co-led by developer Bilbo Baggins and Solid Snake. The reasons include a lack of transparency on developers and their abilities, trust in the existing Joint L1 Task Force developer team, and bad actors in the team. The major reason is the lack of funds in the community pool to approve all current proposals.

Also Read: Terra Luna Classic (LUNC) Under Review By Hong Kong Virtual Asset Consortium

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Terra Allies “Six Samurai” Team Roadmap For Terra Classic Revival

The roadmap entails crucial milestones such as migrating from Columbus-5 to Columbus-6, which reduces the synchronization time for archive nodes, streamlining the network. The Samurai Six also planned to focus on updating the Cosmos SDK v0.46.x to Cosmos SDK v0.47.x.

Additionally, their roadmap includes pursuing the listing of Terra Classic on Keplr’s web interface, a web tool for analytic visualizations, and Mintscan, a Cosmos block explorer catering to crypto exchanges and customers, and work on USTC repeg.

“LUNC has limitless upside potential, and we want to help realize it by leveraging our skills to bring value to the blockchain and all its investors in order to accomplish a true revival of the ecosystem. We will also coordinate and cooperate with any other teams that win a mandate to dev on LUNC.”

The team expressed readiness to undertake the required efforts to revive the Terra Classic ecosystem. They also emphasized their willingness to collaborate and coordinate with other teams that secure a mandate to develop LUNC.

Also Read: Bloomberg Analysts Increasingly Bullish On BTC Price Amid BlackRock, Fidelity Bitcoin ETF

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.