Terra Rebels, the group behind Terra Classic development, has announced the launch of its own Luna Classic (LUNC) validator. The new development was announced on Friday, October 28.
According to the report, the validator will run on a 5% commission, which can only be changed via an internal governance vote by the Rebels. The cost of operation is intended to come from the proceeds of the validator and the leftover funds will be moved to the group’s donation wallet.
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In the announcement, the group also stated that it will not participate in all governance votes on the Terra Classic network.
Terra Rebels tweeted, “The Terra Rebels Validator will operate with a 5% commission only amendable through an internal TR governance vote. Validator costs will be paid from the funds first with the remaining rewards going to the TR donations wallet. Terra Rebels will abstain from all governance votes.”
The Terra Rebels Validator will operate with a 5% commission only amendable through an internal TR governance vote. Validator costs will be paid from the funds first with the remaining rewards going to the TR donations wallet.
Terra Rebels will abstain from all governance votes pic.twitter.com/18VoLl0J4b
— Terra Rebels (@TerraRebels) October 28, 2022
Affirming the above development, reXx, a pseudonymous member of the Rebels group, tweeted, “We have open up our own validator. We will be running at a 5% commission. We will abstain from all governance votes.”
The Terra Classic community was initially expecting the launch of the validator on Thursday, but it was intentionally delayed until Friday, as claimed by another member of the group, David Goebelt.
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According to Goebelt, it was delayed to allow smaller validators to get a share of the delegations.
David Goebelt wrote, “I’m glad #Terra Rebels have their own validator and I think it wasn’t by mistake that they delayed until today to announce it, until after the smaller LUNC validators had a chance to get a share of the delegations.”
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