HomeNewsTerra Luna Classic (LUNC) Engineers Reveal 'Six Samurai' Proposal to Revitalize the...

Terra Luna Classic (LUNC) Engineers Reveal ‘Six Samurai’ Proposal to Revitalize the Ecosystem – Is a Price Surge to $1 Within Reach? Report

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  • “Six Samurai,” a team of Terra Luna Classic senior full stack engineers, submit a Q3 2023 proposal aimed at revamping the LUNC ecosystem.
  • The proposal outlines key upgrades, such as migrating from Columbus-5 to Columbus-6 and updating the Cosmos SDK, promising a brighter future for the LUNC community.

Following a joint governance proposal on liquid staking derivatives, a distinguished group of Terra Luna Classic senior full stack engineers, the “Six Samurai,” have laid out their strategic plan for Q3 of 2023. This proposal, they claim, aims to breathe new life into the LUNC ecosystem. It represents an ambitious roadmap put forward by passionate LUNC holders, ready to lend their prowess towards this shared goal.

The LUNC price is set to close the week with a net gain of roughly 1.3%, indicative of its potential. CoinGape reports that recent Terra Classic price trends suggest a possible challenge to the longstanding resistance trendline, offering a positive outlook.

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The “Six Samurai” team proposes a Q3 2023 expenditure of $116,000 to implement an L1 roadmap. Key elements of the roadmap include the transition from Columbus-5 to Columbus-6 and an update to the Cosmos SDK. The proposal also envisages listing Terra Classic on Keplr’s Web Interface—a tool for analytic visualizations—and Mintscan, a Cosmos block explorer.

As part of their mission to revive the ecosystem, the team commits to collaborate with any other teams that secure a mandate to develop on LUNC. The proposal has so far garnered a positive reaction from the LUNC community, with a majority favoring it.

The “Six Samurai” team is made up of veteran developers with decades of programming experience in multiple technical areas. The team’s co-leader, affectionately known as Bilbo Baggins, claims that LUNC has “unlimited upside potential,” and they plan to leverage their skills to contribute to its revival.

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The proposal also covers plans for a testnet for the stablecoin USTC (Terra USD Classic), the implementation of an Alliance module to enable cross-chain yield through inter-chain staking, and the development of a fee share module that enables contract developers to receive a portion of gas fees.

Despite past challenges such as the “Terra Shock” event, where the old Terra (LUNA) and its stablecoin, old TerraUSD (UST), lost almost 99.99% of their value within days, the community remains resilient. Following these events, a community vote led to the creation of a new Terra chain (Terra 2.0), with the old chain rebranded as Terra Classic (LUNC) and continuing to operate. Despite the fallout, there remains a strong, dedicated community around Terra Classic, committed to its survival and resurgence.

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Jack Williams
Jack Williams
As a Blockchain Analyst, I specialize in analyzing the performance of decentralized systems and optimizing their efficiency. Through data analysis, I provide insights on blockchain technology, smart contracts, and cryptocurrencies to help businesses make informed decisions and improve their operations.
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