In all probability, the Terra Classic (LUNC) will soon have a new chief community officer (CCO) thanks to a new governance model. Not just a CCO but many other positions would be filled out from within the LUNC community by voting. As per the first draft of the Terra Luna Classic Holacratic Governance model, the LUNC crypto community will be monitored by a slew of new community backed measures. The positions would be given to individuals by the community through votes.
In the backdrop of the Terra Luna Classic hard fork earlier this year, the community is coming up with a new governance model. The community could potentially adopt the holacratic governance structure. The governance structure would be bound by an established holacratic constitution. At the centre of the governance structure is the community’s ability to self-manage using a decentralized authority model.
“Holacracy is the governance structure of Luna Classic through the people for the purpose of driving mass adoption of blockchain technology. This is a radical shift in governance from the typical top-down hierarchy where power is vested to a few.”
The holacratic constitution will provide autonomy to LUNC groups that benefit from implementing decisions. “The constitution requires work groups to communicate with each other to discover the best outcome in the event the decision affects other work groups or circles, increasing transparency and information sharing.”
With the LUNC holocratic governance adoption, the community will be able to choose executive ambassadors by voting. In turn, the ambassadors would be answerable to the whole community. The new structure would comprise several ambassador roles. To begin with, the community will initially have four roles: chief community officer, chief financial officer, chief technical officer, and a chief operating officer.
As of writing, LUNC price stands at $0.0002464, up 4.43% in the last 24 hours, according to price tracking platform CoinMarketCap.
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