The Terra Luna Classic (LUNC) Community Decision Making
The Terra Luna Classic (LUNC) community is currently in the process of voting on an important proposal that aims to establish a core team to oversee the chain’s development and make key decisions regarding its future. This proposal follows the disbandment of the Joint L1 Task Force (JL1TF) in March and seeks to create a team of key individuals, including developers and contributors, appointed by the community.
Details of the Proposal
- The proposal (no. 12093) titled “Establish a Terra Classic Team” is currently open for voting on the Station wallet for the Terra Luna Classic community.
- If approved, the proposal will set the stage for the creation of a permanent team that will be paid monthly from the community pool.
- The team will work directly for the Terra Classic blockchain, distinguishing it from Terraform Labs, which serves Terra (LUNA).
- Specifics regarding roles, salaries, responsibilities, and the number of developers will be determined in a subsequent proposal pending the governance approval of the initial proposal.
Community Involvement and Approval
The Terra Luna Classic community and validators will engage in discussions on Commonwealth to define the requirements, roles, and responsibilities of the proposed team. If the proposal is rejected, an iterative process will be undertaken until a positive outcome is achieved, signaling approval for the next phase of the process. Once the roles and responsibilities are endorsed by the Governance, the community and validators will collaborate on Commonwealth to nominate developers for the newly created positions.
Price Performance Analysis
Regarding price performance, LUNC has experienced a 1% increase in the last 24 hours, with the current price standing at $0.0001301. Despite this uptick, trading volume has decreased by 23% during the same period, indicating a subdued interest from traders. Conversely, LUNC futures’ open interest has slightly risen, hinting at a potential rebound anticipated by traders.
- In contrast, USTC price has exhibited sideways trading over the past week, hovering around $0.0250.
- Despite minor fluctuations, trading activity remains stable, reflecting a cautious market sentiment.
Hot Take: The Way Forward
As the Terra Luna Classic community deliberates on the establishment of a core team, the decision-making process is crucial for shaping the future of the chain. By actively participating in the voting and discussion on proposals, you contribute to defining the direction and governance of Terra Luna Classic. Stay engaged to be part of this exciting journey!
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