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Here’s the Latest Regarding Terra Classic (LUNC) IBC Re-activation

Among the developments on the sleeves of the Terra Classic community is the re-enabling of the Inter Blockchain Communication (IBC) protocol on the LUNC chain to make it interoperable with the Cosmos chains. IBC was disabled on the Terra Classic network as a result of the de-pegging of TerraClassicUSD (USTC) in May.

IBC is a three-layered network protocol that enables interconnection between blockchains. By utilizing the high-level IBC channels, different chains can interchange information such as the transfer of funds. 

According to the Terra Classic community, the success of the IBC re-activation ambition would lead to the release of trapped LUNC tokens. It would also enable funds on interconnected chains (Cosmos) to be used in generating yield from their liquidity pools.  

Proposal To Re-open IBC on Terra Classic Network

To this end, Fragwuerdig, one of the trustees of the Terra Classic Community Foundation and a senior partner of TerraCVita, published a proposal titled ‘Cosmoshub IBC Reactivation via Client Unfreeze.’ 

According to Fragwuerdig, who is also a validator on the Terra Classic chain, the proposal is geared toward unfreezing the expired IBC Tendermint client which interconnects the Cosmos SDK blockchains.

“There are no significant risks to this proposal being accepted. In the case that this proposal passes and the connection between Terra Classic and Cosmoshub gets reactivated, there is also no significant risk of diluting the Terra Classic on-chain overall supply,” he added.

Although this proposal has gained significant support from the community and members of TerraCVista, the tone of the proposal has raised concerns for some. On Wednesday, TerraCVista wrote on Twitter that the entity will vote ‘Yes’ on the proposal, citing that re-establishing IBC would bring life to Terra Classic. 

Read Also: Terra Classic Devs in Conflict of Ideas Over the $4.16 Million Non-Terra Community Assets

LUNC Community Criticizes IBC-related Proposal

Meanwhile, a top Terra Rebels admin clarified that the proposal was not from the Terra Rebels group, mentioning that the authors seemed to be imposing the proposal on the community. He wrote,  “voting NO should not mean that the community does not want IBC to be reopened. The prop seems to be designed to advertently force the community to vote “Yes”. This prop was put up by a community member, not TR.” 

ReXx of Terra Rebels also highlighted an untrue assertion in the proposal and added that “IBC code needs to go through a series of testing prior to being voted on. Rushing the code could potentially have detrimental effects,” he stated. He further urged the LUNC community to carefully study and understand the proposal before casting their votes. 

Another LUNC community member criticized the proposal which was co-authored by Rex Harrison, stating that it is highly technical and difficult to comprehend.

“We need to categorize/departmentalize proposals better. It’s absurd to ask/allow the community at large to vote on such a technical proposal. Most of us have no clue as to what it is about or how it can potentially benefit or not benefit,” the user said


Related: Terra Classic to Soon Become Fully Cosmos Interoperable As New Upgrade Is Slated For December

In response to the numerous criticisms, Fragwuerdig, one of the co-writers of the proposal tweeted, “this proposal is forcing no one to vote on anything. There is no evil manipulation going on here. It’s just a community member with some technical skills bringing up a proposal.”

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Ndianabasi Tom
Ndianabasi Tom
Ndianabasi Tom joined the crypto and blockchain industry in late 2018. He is an all-rounded crypto journalist and content writer. At TimesTabloid, he covers the industry's latest news, developments, and other educational content. He is a graduate of Petroleum Engineering.

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