While the Terra Classic project continues to explore every possible means to remain afloat in the volatile crypto market, the Terra Allies senior full-stack engineering team, known as the Six Samurai, came up with a proposal, spewing good news for Luna Classic (LUNC), the Terra Classic native coin.
In the recent development, the Six Samurai submitted their third quarter of the year spending proposal, stressing their profound fondness as Luna Classic holders.
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Origin Of The Six Samurai
Following a joint governance proposal on liquid staking derivatives in Terra Classic (LUNC), a new recommendation surfaced given the upcoming year quarter that culminated in the establishment of the Six Samurai, a team consisting of six senior full-stack engineers.
In a bid to show its commitment towards ensuring the achievement of an authentic revived ecosystem, the Terra Allies senior full-stack engineering team came up with a budget for Q3, which they hope would be crucial in ensuring that the crew meets its goal.
Proposal Content: What Does The Recently Presented Proposal Entail?
The Terra engineering team reportedly made a proposal, involving a $116,000 budget for the third quarter of the year. The proposal also included crucial roadmaps like migrating from Columbus-5 to Columbus-6 and upgrading to the newest Cosmos SDK.
Notably, the roadmap also revealed proposed plans to follow up Terra Classic’s listing on Keplr’s web interface, a web tool for analytic visualizations, and Mintscan, a Cosmos block explorer answerable to crypto outlets and clients.
Having expressed the willingness and zeal to deliver a rejuvenated Terra Classic ecosystem through partnerships with other significant firms, the LUNC community seemed satisfied with the engineering team’s proposal, leading to voting in favor of its proposal.
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Terra Classic Project: A Brief Overview
At the onset of its launch, Terra Classic was originally an ecosystem with several moving parts. Unfortunately, its TerraUSD (UST) stablecoin and LUNA coin collapsed in 2022, culminating in the emergence of a new blockchain, Terra 2.0, with its dedicated token, LUNA but referred to by many as Terra (LUNA2).
Intriguingly, the genesis block of the new chain got launched in May 2022 to oversee future trading deals, and the initial Terra chain got rebranded as Terra Classic.
Meanwhile, per CoinGecko, Terra Classic’s price today is $0.00009319, reflecting a spike of 5.8% in the past 24 hours, with a 24-hour trading volume of $21,563.
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