Wednesday, June 19, 2024
HomeCryptocurrencyTerra Classic Team Officially Releases New LUNC Development Roadmap: Details

Terra Classic Team Officially Releases New LUNC Development Roadmap: Details

It’s a happy ending for the Terra Classic community this month of September as the team pushing for the revitalization of the fallen project, Terra Rebels, has made a huge step forward. Coupled with the progress made with the Tax Burn initiative, a comeback could be in sight for LUNC. 

According to a Thursday update, the Terra Rebels group has released a roadmap for the Terra Classic (LUNC) project. It’s worth noting that Terra Rebels is a decentralized organization formed with the purpose of resurrecting the abandoned Terra Classic ecosystem by Do Kwon and the TerraForm Labs after it collapsed in May. 

“It brings us great pleasure to release to all of you the official Terra Rebel Roadmap. The roadmap is readily viewable on our website here: Please be aware that the roadmap is subject to change,” Terra Rebels wrote. 

Read Also: Bitrue Implements Terra Classic Tax Burn Proposal, Launches LUNC Staking

This roadmap which summarizes developmental actions to be carried out within the Terra Classic ecosystem has 22 projects including the formation of Terra Rebels, governance proposals 3568, 4080, and 4095 roll-outs, updating v21 testnet and software, finalizing epoch testing, software merges into the main branch, whitepaper release, disabling market swap, reworking the underlying Cosmos/Tendermint skeleton, upgrade to Vanilla Cosmos v0.45.8, upgrade to Tendermint v.0.34.x., upgrade CosmWasm v1.0.0, assess burn tax, begin work on v2 algorithm, solidify the plan around an Algorithmic Fungible Token (AFT). 

The lineup also included testing, validation, and security audit for the chain upgrade, upgrading chain to parity with LUNA V2, support dApps with CosmWasm upgrade, re-peg the Algorithmically Fungible Token (AFT), deploying APS module into production, establishing new capital controls on the AFT, partially collateralize the AFT, re-enable the market swap module, and begin work on new rewards mechanism to increase decentralization of network validators. 

Read Also: New Terra Classic Update: A Bold Plan to Restore USTC and Bring Utility to LUNC

So far, the first 7 items have been completed as the Terra Rebel group was earlier developed and is functioning optimally. Similarly, the proposals which had to do with the 1.2% LUNC tax burn on the Terra Classic network passed and have been activated by several exchanges like Binance. Likewise, the project whitepaper which centers on the emergency management and recovery of Terra Classic (LUNC) was earlier released. 

Meanwhile, the remaining planned actions and projects are expected to be executed accordingly in the coming months. However, the Terra Rebels organization noted that “the roadmap is subject to change and contingent upon governance decisions.” In addition, the team disclosed that they are open to donations to facilitate the rebuilding of the ecosystem for the greater good. 

The update read;

“We are also happy to announce that Terra Rebels is now capable of accepting donations, utilizing Open Collective as well as a native Terra Classic Wallet.

LUNC Open Collective:


Donations Wallet Address: terra1067mhg3qwdccep2sp95cca8nmj8ds395w2rue7″

Follow us on Twitter, Facebook, Telegram, and Google News

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.

Latest News & Articles