HomeNewsUnlocking Possibilities: Terra Classic L1JTF Envisions Community-Owned Mobile Wallet App & L2...

Unlocking Possibilities: Terra Classic L1JTF Envisions Community-Owned Mobile Wallet App & L2 Team

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  • The Terra Classic L1 Team, led by project manager ‘LuncBurnArmy’, proposes the creation of a community-owned Station wallet, alongside an independent L2 Team.
  • The endeavor aims to enhance the wallet’s codebase, diversify client wallets, and ease Terraform Labs’ testing burdens, fostering ecosystem sustainability and user inclusivity.

In an exciting development for the Terra Classic ecosystem, the L1 Team, steered by project manager Steve, popularly known as LuncBurnArmy (LBA), has proposed the creation of a community-governed Station wallet. Alongside this, LBA proposes the establishment of an autonomous L2 Team responsible for managing updates to the wallet.

The proposed community-owned Station wallet and the independent L2 Team will target a host of objectives. Key among these are enhancing the existing Station wallet’s codebase, diversifying client wallets, and relieving Terraform Labs (TFL) from the responsibility of testing Station for LUNC upgrades instigated by the L1 Team.

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LBA unveiled the proposal on Commonwealth, using his Twitter handle to bring it to wider public attention. The planned community wallet aims to have multi-platform accessibility, with a user-friendly web version of Station, a mobile application compatible with iOS and Android devices, and a Chrome extension.

The Terra Classic community has previously encouraged the development of forked versions of the official Station wallet, like the Rebel Station, for TFL independence. However, these versions remain under specific groups or individual’s control, while the L1 Team’s current proposal envisions a wallet under community control.

This groundbreaking proposal aims to instill inclusivity and sustainability by assigning wallet ownership and governance to the community. By doing so, users can expect a reliable and routinely updated wallet experience.

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The L1 Team plans to fund the initial phases from its computing budget, eliminating the need for a separate proposal regarding community expenditure at this stage. However, a monthly budget of up to $3,000 is suggested for managing, maintaining, and upgrading the wallet.

The introduction of an autonomous Terra Classic L2 Team forms another significant part of the proposal. The proposed L2 Team will operate independently within the Terra Classic ecosystem, working alongside the L1 Team to ensure stable wallet operations, especially following updates.

Significant changes to the community wallet will trigger a community governance vote, led by the L1 Team. If the L2 Team identifies a future need for additional development resources, they will present a governance proposal for consideration.

This proposal follows hot on the heels of a successful upgrade by the L1 Team to v2.1.1, introducing parity with Luna 2.0 and Cosmos. However, a series of issues has emerged with the LUNC blockchain following this parity upgrade, prompting mixed responses from the Terra Classic community regarding the wallet proposal.

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Jane Smith
Jane Smith
As a Bitcoin Journalist, I am dedicated to reporting the latest developments in cryptocurrency, with a particular focus on Bitcoin. Through extensive research and interviews with industry experts, I provide accurate and up-to-date information on the ever-evolving world of cryptocurrencies. My goal is to help readers stay informed and make informed decisions regarding their investments in this rapidly changing field.
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