Terra Classic Joint Task Force Returns Unused 344M LUNC As Community Strives For Revival

Terra Classic has recently shown its commitment to ensuring it revives its ecosystem. Central to this strive by the LUNC community is the Layer One Joint Task Force (L1JTF). 

For context, L1JTF is a renowned developer in the LUNC community headed by Vinh Nguyen; the community comprises squad members working behind the scenes to ensure that LUNC does not go into oblivion.

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In one of the most recent developments, Vinh Nguyen shared an update about the progress made in the LUNC ecosystem revamping project.

Vinh Nguyen On Progress Made So Far

According to the squad leader, unused funds from Quarter 3 (Q3) running into about 344,061,616 (344 million) LUNC tokens have been returned to the community pool (CP) as the L1JTF team now seems to be gearing for the Q4 maintenance phase. 

It is worth noting that the funds reported to have been returned to the CP are the excess from the initial funding for Q3. As the development team seems set for Q4, the repaid sum will go into developments for the Quarter.

According to data from LUNC’s data tracker site, the community pool holdings saw remarkable improvement in Q3. At the time of writing, the pool holds 2,135,253,365 LUNC and 6,129,328 USTC.

L1JTF Objectives For Q4 Revealed

Aside from the returned funds, Vinh Nguyen also disclosed the development plans for Q4. Per the L1JTF squad leader, three key areas in the LUNC ecosystem would be looked into. 

These three segments of the LUNC ecosystem spotlighted for improvements include fixing the bugs hindering Astroport functionalities. Notedly, Astroport is a leading decentralized exchange (DEX) developed on the Terra Classic blockchain. 

In addition, Vinh Nguyen noted that his team is dedicated to tackling chain issues and supporting pool requests (PRs). It is left to see how events unfold by the end of the fourth Quarter.

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Worthy of mention is that the Q4 was scheduled to run for three months, between October 17, 2023, and January 17, 2024.

Aside from the aforementioned plans for Q4, a LUNC community member sparked a conversation that led to the L1JTF team leader revealing when the road map for next year will roll out. 

An extract from the yet-to-be-identified LUNC enthusiast quizzed, “Vinh, is there a roadmap you are following?” In response, Vinh Nguyen remarked, “Roadmap for next year will be prepared in Q4 also.”

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