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HomeCrypto NewsTerra Classic Request to Give $141k To L1 Team Now Approved

Terra Classic Request to Give $141k To L1 Team Now Approved

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The change occurred shortly after the Terra Classic community discussed issues brought up by various validators.

The Joint L1 Task Force will receive more than $141K in LUNC thanks to Proposal 11168, which has achieved pass status. 

The proposal states that the money would help the group during the first quarter of 2023 as they seek to upgrade and stabilize the Terra Classic Layer 1.

The idea was made public by prominent LUNC influencer Classy, who referred to it as “one of the most important in LUNC history.” 

Classy expressed happiness that the community had found a reliable L1 development team to assist with network upkeep and security improvements. 

He said that at 17:00 (UTC), he would speak with Tobias “Zaradar” Andersen, one of the team’s full-time developers.

The positive response from the Terra Classic community to the development suggests that the validators’ votes accurately represented the community’s sentiment. 

It was hailed as a massive victory for the LUNC community for the year by validator BetterLunc.

Well-known developer Edward Kim presented the plan last month, as was previously reported. 

The L1 team will consider additional innovation through long-term improvements on the network after completing the regular security and maintenance updates. 

After the Q1 work is finished and the community has had a chance to weigh in, a governance vote to keep supporting the team will be available by the end of March.

Concerns About the Allocation and the L1 Team

Recall that the suggestion had prompted discussions within the Terra Classic community, with several validators and community members voicing a variety of reservations about the L1 team’s members and the creation of the community oversight committee.

These worries were mainly brought on by the suspected misappropriation of the $150K given to Terra Rebels

Questions were also raised over the L1 team’s use of Terra Rebels members. 

In particular, Zaradar made an effort to ease these worries surrounding the creation of the community oversight committee.

LUNCDAO, the debate’s champion, ultimately decided to support the motion. 

In contrast, only two validators, TerraCVita and Moon Train Express voted “No.” The most powerful voting bloc, Allnodes, also chose “Yes.”

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