Sign Up on MEXC
Terra Luna Classic core developer Joint L1 Task Force (L1TF) submits a proposal to create a community-owned wallet, which will be managed by the Terra Luna Classic community through governance. The developer group suggests establishing an L2 team to manage the community-owned wallet, working closely with the L1TF.
Also Read: Terra Luna Classic Core Developer Revises Q3 Proposal, LUNC Price To Rally
Terra Classic LITF Seeks To Establish L2 Team For Wallet
Joint L1 Task Force project manager LuncBurnArmy on June 22 revealed that a proposal is submitted on Commonwealth to build a community-owned wallet. Terra Classic has L2 wallet dApp providers including TFL (Station), Keplr, Trust Wallet, and others. Moreover, forked versions of Station wallet are owned by individual groups, but none are owned by the community.
According to the proposal, a community-owned web version of Station, iOS & Android mobile apps, and Chrome browser extension will be created. This will help improve client wallet diversity, the Station codebase enhancements, and ease the burden on TFL for testing L1 upgrades and maintenance on the Station after every Terra Luna Classic upgrade.
L1TF proposes to create an independent L2 team. The L2 support team will maintain and manage the community-owned wallet, ensuring upgrades, reducing end-user downtime, and regular maintenance.
In Q3, the Joint L1 Task Force will develop the community-owned wallet free of charge. Costs such as domain registration and hosting can be used from Joint L1 Task Force’s compute budget. This will remove the need for a small community spend proposal. However, a separate monthly budget of not exceeding $3k is still needed to manage, maintain, and upgrade the wallet.
“The community-owned wallet will be managed by the L2 team, working closely with the L1 team to ensure stable and consistent operations following updates and upgrades.”
L1TF will fork and provide a fully functional community-owned wallet to the L2 team. A separate community spend proposal along with listed and proposed team members would follow a successful ‘yes’ vote. However, if the community votes “No,” the L1TF will not create any community-owned Station wallet.
The community votes to support the idea of having an L2 team, but governance voting will require to confirm the decision.
Does #LUNC need a (paid) L2 team to maintain things (classic-related) like finder, station, terra.js, rust bindings, …?
Or should this in your opinion be handled by either volunteering L2 devs or the current L1TF (which mainly does it currently afaik)?— StrathCole (@ColeStrathclyde) June 21, 2023
Also Read: Bitcoin, Ethereum Retraces After The BOE’s 50 Bps Rate Hike, US Fed Powell Testimony
Terra Rebels and Community Members Respond
Terra Rebels, the former core developer group of Terra Luna Classic, explains TFL will never provide direct access to Station infrastructure and that’s why a separate infrastructure was created by Terra Rebels. The developer group also questions managing the high costs of infrastructure and web apps.
We've always been a "community owned" wallet by the same definition that @luncburnarmy is applying to their proposed "community owned" wallet.
Anyone can submit code changes to our GitHub repo for review, anyone can submit feature requests or changes to our forums, and anyone…
— Terra Rebels (@TerraRebels) June 22, 2023
Some community members believe the L1TF must fix post-parity impacts on dApps and projects before moving further on their plans. Also, some argue an L2 team must volunteer to maintain Finder, Station, terra.js, and rust bindings, or else the current L1TF must manage it.
Also Read: Ripple Gets Major Payments Institution License in Singapore, XRP Price To $1
- Bitcoin Bull Cycle Could Extend To 2026, Arthur Hayes Predicts
- CZ Urges Banks to Adopt BNB as Analyst Predicts $1,300 Price Target
- Shiba Inu Update: Team Freezes 4.6M BONE Amid New SHIB Upgrades
- Trump-Backed WLFI Token Signals Rebound As Team Announces Buyback Plan
- Bitcoin ETF Inflows Shoot $642M Before Fed Rate Cut Catching Up With Gold Rally
- Pi Coin Price Prediction As Adam & Eve Pattern Signals Breakout Rally To $0.45 Ahead
- HBAR Price Prediction Amid DTCC Listing and Archax Expansion — Is $0.50 Next?
- Ethereum Price Eyes a 40% Surge as Morgan Stanley Shifts Fed Cuts Forecast
- Solana Price Prediction: Ford’s $1.65B Treasury Bet Sets Sights on $320
- Dogecoin Price Prediction as CleanCore Pushes Toward 1B DOGE Target- Is 92% Rally Ahead?
