Terra Luna Classic Rejects Paid Dev Team Proposal

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The Terra Luna Classic (LUNC) community has declined a suggestion for establishing a paid development team, as proposed in Proposal #12093. Instead of creating a new system akin to the Layer-1 Joint Task Force (JLTF), which was previously discarded due to concerns over centralization and affordability.

In the #LUNC proposal 12093, I cast a “NO” vote. I believe this plan harks back to an ineffective past where the L1 Team’s monthly compensation system failed in terms of management, efficiency, transparency, and sustainability. Personally, I prefer more modern and streamlined approaches for our collective progress.— 🌕 LunaClassicLabs.com – 0% Fee LUNC Validator (@LunaClassicLabs) April 15, 2024

The proposed governance structure clashed with LUNC‘s existing PPJ model and new KYC regulation for developers. Critics argued that the suggested team of paid developers would result in a slower, less transparent process.

During a broader crypto market slump, Luna’s price has fallen 29% over the past month. Although LUNC‘s price has bounced back slightly, it remains significantly below its December 2023 peak of $0.000258.

Based on Coinmarketcap data, the price of Terra is $0.000100 at present, and there’s been a 0.19% decrease in its market capitalization as of now. Over the past 24 hours, Terra has experienced a decline of 0.34%.

source:Coimarketcap

Certain analysts believe that LUNC‘s value could rise if it successfully breaks out of its current bearish trend. However, the fact that the community prioritizes cost control over rapid development, as demonstrated by their focus on PPJ, indicates a different concern.

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2024-04-18 00:04