- The Terra Classic team has unveiled a spend proposal for the project’s revival.
- The proposal highlighted a variety of milestones and also requested funding for a full-stack development team known as the Six Samurai.
- In the proposal, the development team is asking for $116K.
Yesterday, an ambitious spend proposal was unveiled to the Terra Classic (LUNC) community for the blockchain’s revival. In addition, the team also proposed funding for a dedicated development team, nicknamed the “Six Samurai”.
The roadmap for the upcoming quarter includes several key milestones. The first objective is to migrate from Columbus-5 to Columbus-6, reducing sync time for archive nodes and optimizing network performance. Additionally, the team plans to update to the latest versions of the Cosmos SDK, providing access to enhanced features.
The establishment of the Terra Classic USD (USTC) Testnet is another crucial step, following its successful passage in governance. This Testnet will play a vital role in supporting Market Module efforts in the fourth quarter.
Furthermore, the implementation of the Alliance Module aims to enable cross-chain yield by utilizing inter-chain staking. Meanwhile, the Fee Share Module will allow contract developers to receive a portion of gas fees generated on their contracts.
At the protocol level, the proposal suggests creating community subpools to enhance budgeting and cash flow management. These subpools would enable the community to allocate funds proportionally based on governance parameters, promoting transparency and financial sustainability.
A decentralized grants program and bounty program are also planned to attract dApp developers and incentivize ad-hoc work completion. Furthermore, the team envisions utilizing the Warp protocol, which will enable on-chain job automations, to automate fund releases and compensate developers based on predefined conditions.
Additionally, the proposal advocates for decentralized validator CDN infrastructure. This will spread out infrastructure risk across the active set and improve user experience.
In the near future, the team plans to pursue a listing of Terra Classic on Keplr Web Interface and Mintscan, conduct an impact analysis following the “Parity Upgrade,” upgrade to a new Oracle Feeder, increase validator participation in testnets, as well as enhance documentation for L1, L2 aspects linked to the blockchain, and validators.
To support these initiatives, the team proposes a budget breakdown, including compensation for team members and operational expenses. In total, the total expenditure for Q3 will be $116K, with funds being released in two installments based on separate spending proposals and subject to community voting.
The proposal is currently open for community voting. Supporters are encouraged to vote “YES” to approve the spending proposal, while those against the proposal can vote “NO” to voice their disagreement.
Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
