A group of six senior full-stack engineers, known as the Six Samurai Team, has submitted their Q3 spending proposal to the Terra Allies community, highlighting their deep passion as holders of Luna Classic (LUNC). The proposal follows a previous joint governance proposal on liquid staking derivatives in LUNC, and suggests the creation of a dedicated team to work on the development of LUNC.
Terra was originally an ecosystem with various components, but its TerraUSD (UST) stablecoin and LUNA asset suffered a disaster in 2022, leading to major changes in the project. Terra now has a new blockchain called Terra 2.0 with a new asset that is 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 renamed as Terra Classic.
The Six Samurai Team has outlined a detailed plan for the third quarter of 2023, requesting a budget of $116,000. Their L1 roadmap includes important milestones such as migrating from Columbus-5 to Columbus-6 and upgrading to the latest Cosmos SDK. Moreover, their roadmap includes pursuing the listing of Terra Classic on Keplr’s Web Interface, a web tool for analytic visualizations, as well as Mintscan, a Cosmos block explorer catering to crypto exchanges and customers.
The team has expressed their readiness to take the necessary efforts to achieve a real revival of the ecosystem. They have also emphasized their willingness to collaborate and coordinate with other teams that secure a mandate to develop LUNC. As a result, the LUNC community has shown a positive response so far, leaning towards voting in favor of the proposal.
According to CoinMarketCap’s data, Terra Classic has experienced a decrease of 1.65% in the past 24 hours. It currently holds the 75th position and possesses a live market capitalization of $537,523,209 USD. The circulating supply of LUNC coins stands at 5,822,833,985,154, with the maximum supply not specified.