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Controversial Proposal Separating Terra Classic From TFL, Do Kwon Passes

The controversial Proposal 11030 by Terra Rebels to separate the Terra Classic (LUNC) community from Terraform Labs and Do Kwon is seemingly passing. TFL staff Jared indeed pointed out earlier that it’s better for Terra Classic to separate from Terra (LUNA).

Volunteer developer group Terra Rebels proposed to separate the Rebel Station from TFL backend infrastructure and assets as TFL moves to work on a different cross-chain “Station” wallet and may end support for Terra Station soon.

Terra Classic Community Passes Proposal 11030

Terra Rebels’ controversial proposal 11030 to seek 937,500,000 LUNC worth $150,000 to separate Rebel Station from TFL backend assets and infrastructure has passed. The proposal is part of the Terra Classic Revival Roadmap to become independent of TFL and Terra founder Do Kwon.

The community voted in favor of the proposal, with over 71% voting “Yes” and nearly 6% voting “No.” Over 20% have voted “Abstain” due to the controversial factor of solely depending on a team of volunteer developers for the future of Terra Classic.

Meanwhile, TerraCVita developer group is managing Terra Station after Terra Rebels chooses to work only on Rebel Station. TerraCVita in a tweet revealed voting No on the proposal and believes they can maintain TerraStation for free and save $150K of the community pool. The developer group currently works with TFL and Allnodes validator to run the Terra Station.

Validators seem to have supported Proposal 11030, with 36 voting “Yes” on the proposal. So, 12 validators have voted “No” on the proposal.

Can Terra Classic (LUNC) Price Rise Due to IBC Reopening

The reopening of IBC channel between Terra Classic and Cosmos chains will undoubtedly help bring back utility. It will also help drive the LUNC price to move higher.

On the first day after the reopening of IBC channels, the Terra Classic community has transacted over $111k through the IBC channel between the Terra Classic network and Osmosis. Terra Rebels core developer Edward Kim earlier pointed out that IBC reopening will help unblock assets.

Terra Classic (LUNC) price is trading at $0.000164, down 2% in the last 24 hours. The 24-hour low and high are $0.0001628 and $0.0001689, respectively. The community is waiting for the major v23 Terra Classic upgrade.

Also Read: Bitcoin (BTC) On-Chain Data Signals Bullish Sentiment, Is $20k Next?

Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his knowledge about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a substantial period and is currently covering all the latest updates and developments in the crypto industry.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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