The Terra Grant Foundation (TGF), a San Francisco-based non-profit firm, is committed to the Terra Classic metaverse. In a new development, Edward Kim, a prominent developer and also the TGF director revealed that the foundation will now shift its attention towards external sources as a means of funding projects and other endeavors on Terra Classic.
Kim made this disclosure via a press release titled “The Next Episode.” In the Media statement, Kim revealed that the grant foundation will now give more attention to other external means of securing funds for Terra Classic projects, builders, and initiatives.
Edward Kim’s “Next Episode” update…. https://t.co/PPqJXwE8MN#LUNC
— Terra Grants Foundation (@terragrantsf) May 16, 2023
Brief Insight Into The TGF
Terra Grant Foundation was founded in Pennsylvania, United States in 2022. The idea to develop TGF was spurred by a burning desire to revive and restore Terra Classic’s former glory.
The foundation was charged with recognizing needs or shortcomings within the Terra Classic realm, creating recommendations for proposals for identified needs, distribution of funds, etc.
What Does The Shift In Focus Mean For TGF
According to Kim, the shift in focus will not change the normal functions of the grant foundation to the Terra Classic metaverse. It is pertinent to note that TGF’s launch witnessed the introduction of a multi-sig wallet.
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The multi-sig wallet was designed to receive financing from the community pool for sponsoring projects within the Terra Classic ecosystem. Also, capital for LUNC initiatives like; the quarterly works of the Layer-1 joint task force (L1JTF) came from the multi-sig wallet.
In addition, the multi-sig wallet was managed previously by a team comprising; Edward Kim, Marco Ferreira, the TGF program manager, and Validator Allnodes. Following the latest shift in focus involving funds realization for the LUNC community, Kim disclosed that the team would replace the multi-sig wallet with a wallet that belongs to the TGF foundation.
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