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HomeNewsGenuine Labs' Terra Classic Development Proposal Secures Community Approval

Genuine Labs’ Terra Classic Development Proposal Secures Community Approval

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  • Terra Luna Classic community endorses Genuine Labs’ development proposal.
  • Genuine Labs, known for their expertise in Cosmos stacks, will collaborate on Terra Classic’s improvement initiatives.

Terra Luna Classic Community Backs Genuine Labs’ Development Proposal

In a significant development, the Terra Luna Classic community has officially passed Proposal 11940, titled

“Genuine Labs Terra Classic Development Proposal.”

This proposal, put forth by Genuine Labs, a team of experienced developers specializing in Cosmos stacks, has garnered widespread support within the Terra Luna Classic ecosystem.

The proposal, conducted through governance voting on the community-backed Station wallet, received an impressive 84.98% of

“Yes”

votes, indicating overwhelming approval for Genuine Labs to actively contribute to Terra Classic’s development. However, it’s important to note that there were 3.23% of

“No”

votes and 0.43% of

“No with veto”

votes, alongside 11.37% of

“Abstain”

votes. The strong endorsement from key validators, including Allnodes, further underscores the community’s trust in this initiative.

Genuine Labs intends to commence its collaboration by focusing on several critical aspects of Terra Classic’s development. One key area is the integration and enhancement of IBC Hooks and Packet Forward Middleware (PFM) features, as well as the improvement of end-to-end testing and interchain testing for the fee tax charging mechanism. Notably, IBC-hooks and PFM features have already been implemented on a specific branch, indicating the project’s progress in this regard.

The Genuine Labs team comprises experienced developers such as Nguyen, Minh, and Dong, who have contributed significantly to projects like Osmosis, Quicksilver, Stride, and Composable. Their track record includes work on core repositories like Gravity-Bridge, IBC-Go, and Cosmos-SDK, along with the development of the fee abstraction module, among other assignments.

As part of their commitment to enhancing the Terra Luna Classic ecosystem, Genuine Labs is seeking funding of $16,000, with a projected timeline of 6 weeks to accomplish their objectives.

A Bright Future Ahead: Terra Classic Gears Up for Transformation with Genuine Labs

This collaborative effort between Terra Luna Classic and Genuine Labs is poised to bring valuable improvements to the chain, potentially bolstering its position in the blockchain landscape. As development progresses, the community eagerly anticipates the positive impact of these enhancements on Terra Classic’s growth and functionality.

The Terra Luna Classic community has given its resounding approval to Genuine Labs’ development proposal, marking a significant step towards enhancing Terra Classic’s capabilities. Genuine Labs, backed by their experience in Cosmos stacks, is set to contribute valuable improvements, signaling a promising future for the Terra Luna Classic ecosystem.

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AnnJoy Makena
AnnJoy Makenahttps://www.ethnews.com
Annjoy Makena is an accomplished and passionate writer who specializes in the fascinating world of cryptocurrencies. With a profound understanding of blockchain technology and its implications, she is dedicated to demystifying complex concepts and delivering valuable insights to her readers. Business Email: info@ethnews.com Phone: +49 160 92211628
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