Is LUNC Recovery Unattainable? Terra Classic Community Rejects Revival Plan

An Overview Of the Rejected LUNC Proposal

The LUNC community recently faced a setback when their proposal titled ‘Investigate EVM functionality’ was rejected. This proposal aimed to make the Terra platform compatible with Ethereum Virtual Machine (EVM), allowing it to interact with other chains under the EVM umbrella. The proposal also highlighted the potential benefits of increased processing power, compatibility with Optimistic transactions, and enhanced liquidity in the Terra ecosystem.

Why The Proposal Could Have Been Rejected

A prominent member of the LUNC community shared insights on why the proposal might have been rejected. According to a memo from Allnodes, one of the validators who voted against the proposal, cost seemed to be a major concern. However, another community member pointed out that this proposal was only for analysis and investigation, and a separate proposal would be required for implementation. It is possible that some validators misunderstood the objectives or had doubts about funding.

Despite this setback, the LUNC community celebrated the approval of another proposal called ‘Genuine Labs Terra Classic Development Proposal.’ This proposal aims to enhance interoperability with other chains and improve liquidity and cross-chain DeFi applications in the Terra ecosystem.

Hot Take: Setback for LUNC Community’s Revival Plans

The rejection of the ‘Investigate EVM functionality’ proposal is a setback for the LUNC community’s efforts to revive their crypto token. This proposal aimed to make the Terra platform compatible with Ethereum Virtual Machine (EVM), opening up new possibilities for interoperability and enhanced liquidity. While cost concerns and misunderstandings may have led to its rejection, it’s important for the community to continue pushing forward with innovative proposals that can drive progress and growth in the ecosystem. Despite this setback, there are still opportunities for improvement and development within the Terra ecosystem through approved proposals like the ‘Genuine Labs Terra Classic Development Proposal.’