The Terra Allies development team has presented its proposals for developing the Luna Classic blockchain network to the community and announced the budget needed to implement them.
Terra Allies’ senior full-stack development team, known as Six Samurai, offered a comprehensive proposal to revive the Luna Classic ecosystem. The team members are industry veterans and LUNC holders, and they cited a belief in the potential of Luna Classic as their primary motivation.
According to their proposal, there are plans for the third quarter of 2023:
- Upgrade Columbus-5 to Columbus-6, reducing node synchronization time and optimizing network performance.
- Gradually upgrade the Cosmos SDK framework to the latest version (v0.47.x) to use its latest features.
- Deploy the USTC test network to launch the Market module in Q4.
- Introduce the Alliance module to enable cross-chain staking.
- Introduce the FeeShare module, which will allow smart contract developers to receive a portion of the gas fees that accrue when they use their contract.
Separately, Terra Allies’ plans call for a series of measures to decentralize the Luna Classic network at the level of project budget management and grant-making. They also propose to send a “confidence signal to the market” by incorporating data from the core Luna Classic network into the web interface of the cryptocurrency wallet Keplr and blockchain explorer Mintscan, which operate in the Cosmos ecosystem.
The total cost to implement the proposals is $116,000. Six Samurai was also willing to collaborate with other development teams working on the Luna Classic ecosystem. The community has generally responded positively to the proposal, however, it has not yet had an impact on the market success of LUNC.
Let’s recall, the price of LUNC peaked after the collapse of the Terra ecosystem in September 2022, amid a series of updates on the network and the increased interest of investors in the “fallen angels.” Binance representatives also sought options to help the project restore LUNC quotes, but since then, the asset price has fallen, and there has yet to be a movement toward significant growth. The project’s co-founder, Do Kwon, is preparing to serve a prison sentence in Montenegro, however, the U.S. and South Korea are seeking his extradition.