The Six Samurai team of Terra Allies aims to revive the ecosystem.
After a proposal for joint governance regarding liquid staking derivatives in Terra Classic (LUNC), a new proposal was made for the next quarter suggesting the formation of a dedicated team consisting of six senior full-stack engineers.
The Terra Allies senior full stack engineering team, also known as the “Six Samurai,” has presented their Q3 spending proposal. The team emphasizes their deep passion as LUNC holders and pledges to dedicate their efforts and expertise toward achieving “a true revival of the ecosystem.”
Terra was originally an ecosystem with several components, but its TerraUSD (UST) stablecoin and LUNA asset suffered a catastrophe in 2022, causing major changes to the project. Terra now has a new blockchain called Terra 2.0 with a new asset also called LUNA but referred to by most as Terra (LUNA2).
In May 2022, the genesis block of the new chain was launched to conduct future transactions, and the original Terra chain was rebranded as Terra Classic.
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The team proposes a budget of $116,000 for the third quarter of 2023, with a detailed plan that includes crucial milestones such as migrating from Columbus-5 to Columbus-6 and upgrading to the latest Cosmos SDK.
Their roadmap also includes pursuing the listing of Terra Classic on Keplr’s web interface, a web tool for analytic visualizations, and Mintscan, a Cosmos block explorer catering to crypto exchanges and customers.
The team expressed their readiness to undertake the necessary efforts to achieve a genuine ecosystem revival and emphasized their willingness to collaborate and coordinate with other teams that secure a mandate to develop LUNC. The LUNC community has shown a positive response so far, leaning toward voting in favor of the proposal.
As per CoinMarketCap data, LUNC has dipped 1.65% in the past 24 hours, currently holding the 75th position and possessing a live market capitalization of $537,523,209. The circulating supply of LUNC coins is 5,822,833,985,154, with the maximum supply not specified.
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