Despite his controversial departure from the Terra Classic Layer-1 development team in April, Tobias Andersen has disclosed his openness to rejoin the L1 Task Force if the need arises.
As discussion continues around the repeg of the collapsed stablecoin TerraClassicUSD (USTC), a LUNC community member drew attention to the role Anchor Protocol played for the success of the once-thriving LUNA project and several algorithmic stablecoins.
Read Also: LUNC Path to $1? About 1 Billion Terra Classic Tokens to be Burned Via New Proposal
The user then added that USTC could be repegged if the unsustainable model used by Anchor Protocol is fixed and an updated version redeployed using axlUSDC and USTC. “…Imagine if someone fixed the unsustainable model of Anchor and deployed a new version using axlUSDC and $USTC in parallel?” Luna_lover69 wrote.
In response, Redline Drifter, who had earlier proposed the use of a divergence tax protocol alongside a buy-and-burn mechanism to attempt repegging USTC noted that utility is key to revitalizing the fallen Terra Classic-based algorithmic stablecoin.
Drifter further stressed the need to drive organic demand for USTC, implying that the Terra Classic developers need to focus on building projects that would require the use of the algorithm-based stablecoin. “For a repeg to work effectively, we need to use USTC. We need to drive organic demand,” he wrote.
Ex-Terra Classic developer Zaradar reacts
Zaradar joined the discussion at this point, noting that this has been his viewpoint all along. But according to him, some developers in the Terra Classic ecosystem didn’t share the same opinion. A community member Apollos chimed in, lauding Zaradar’s experience and adding that it would be nice to have him back in one of the development teams.
I have been saying that for over a year, I even wrote an article about it and yet no one seems to understand it. Including most of the “quants” 😂
So I guess we can conclude that people just don’t listen and seem to pray that things will magically fix themselves 🤷♂️ pic.twitter.com/7fMNzwSBMf
— Tobias Andersen (@ZaradarBH) June 28, 2023
Read Also: Zaradar Mocks Terra Classic (LUNC) Price Logic, Sparking Community Reaction
Reacting to this, the ex-Terra Classic developer noted that he still keeps tabs with members of the L1 Task Force including Vinh and the project manager LuncBurnArmy (LBA). “Just because I don’t work on the L1TF team anymore does not mean I do not care, so while I appreciate the many requests for me to rejoin the L1TF, I think you can all relax knowing that you have very capable developers, and if for some reason I am needed I will be there,” he added.
Amid these recent support gestures, Andersen has been disparaging the Terra Classic project in several instances. As published on Sunday, he mocked the inconsistent comparison of LUNC’s price action with that of the leading crypto asset Bitcoin (BTC), dubbing it “Lunatic logic.” In addition, he noted that the claims of the Terra Classic’s network effect, user base, and distribution are greatly exaggerated.
Follow us on Twitter, Facebook, Telegram, and Google News
