LUNC News: Terra Classic Recovery Proposal Submitted by TGF 10946
Professor Edward Kim, Terra Grants Foundation’s program director, has submitted Proposal 10946. The proposal aims at setting aside 750 million LUNC tokens to developers, validators, community members, and project managers to contribute to the Terra Classic revival between May-October.
Terra Classic Core Developer Submits a Signaling Proposal
Edward Kim is a key member of the core group that revived Terra Classic blockchain following the Terra-LUNA crisis. He is the man behind Terra Rebels, Terra Classic Revival Roadmap and Terra Grants Program.
Terra Grants Foundation, a community-backed foundation, has submitted “Proposal10946: Signaling proposal for the Terra Classic Recovery Acknowledgement Opportunity” to vote. It is a signaling proposal that 750 million LUNC tokens be set aside from the community pool to reward individuals and organizations for their contributions to the blockchain between May 27 and October 27.
“Excited to announce the first TGF initiative. We want to acknowledge and highlight the incredible contributions of individuals and organizations that have revived the blockchain between May and Oct.”
TGF will begin collecting applications, find independent reviewers, then recommend the distribution of the 750M. A “No” vote will reject the initiative. The proposal has received majority votes for approval, with 99% voting “Yes”. The community still has six days to vote.
Edward Kim claims to have submitted all documentation and recommendations to the community in accordance with the rules. A governance proposal will be made for the actual distribution. The community can reject the distribution of funds during this process.
“If this passes we encourage all who may be eligible to apply. We would love to hear from you, and we would like to recognize your efforts!
Terra Classic (LUNC) Price Recovers Amid Market-Wide Recovery
The market recovery has seen Terra Classic’s price rise by more than 13% over the past 24 hours. Nevertheless, the LUNC price plunged once more after profit-booking traders.
The LUNC price is currently trading at $0.000159, an increase of 6%. The 24-hour lows and highs are $0.0001528 (or $0.0001686) respectively. The trading volume has increased by nearly 40%
Edward Kim, Terra Rebels’ core developer, also published a proposal for re-enable IBCs to Terra Classic and three channels of Cosmos-based chains Osmosis Crescent, Crescent, and Juno. It will bring back utility to the chain.
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