Community-Owned Station Wallet Proposal Aims for Greater Accessibility and Independence
In a significant development within the Terra ecosystem, Steve, also known as LuncBurnArmy (LBA), the project manager of the Terra Classic L1 Team, has submitted a groundbreaking proposal to create a community-owned Station wallet. This ambitious endeavour seeks to enhance the existing Station wallet’s codebase, diversify client wallets, and alleviate the burden on Terraform Labs (TFL) by introducing an independent L2 Team responsible for managing wallet updates.
Community-Owned Station Wallet Proposal To Provide Users With dependable and regularly updated wallet experience
The proposal aims to provide users with a dependable and regularly updated wallet experience while fostering inclusivity and sustainability. By placing ownership and governance of the wallet in the hands of the community, this move represents a milestone in empowering Terra users.
Read Also: Terra Classic’s (LUNC) Recent Milestone and Parity Upgrade Fuel Speculation on Price Potential
LBA recently released the proposal on Commonwealth and further called public attention to it through his Twitter handle.
https://twitter.com/luncburnarmy/status/1671654244162650114
To ensure widespread accessibility, the community-owned wallet will be made available across various platforms, including a user-friendly web version of Station, a mobile application compatible with both iOS and Android devices, and a Chrome extension. This multi-platform approach ensures users can conveniently access the wallet regardless of their preferred device.
Previously, the community had encouraged the development of forked versions of the official Station wallet, such as the Rebel Station. However, these wallets were controlled by specific groups or individuals. The L1 Team’s proposal seeks to address this limitation by creating a wallet genuinely owned by the community.
The initial funding required for this ambitious project will be sourced from the L1 Team’s computing budget, eliminating the need for a separate proposal regarding community expenditure. However, the proposal recommends setting up a monthly budget of up to $3,000 to cover the wallet’s management, maintenance, and future upgrades, ensuring its ongoing development and sustainability.
Read Also: XRP Surge at 24,950% To Reach $124 According to Engrag
L2 Team was Created To facilitate the independent management of the wallet
To facilitate the independent management of the wallet, the proposal also suggests creating a separate L2 Team that will operate autonomously within the Terra Classic ecosystem. This team will work closely with the L1 Team to ensure stable wallet operations, particularly in the aftermath of updates, thereby enhancing the overall user experience.
Furthermore, the proposal emphasizes community governance and inclusivity. In the event of significant changes to the community-owned wallet’s features, the L1 Team will initiate a community governance vote, ensuring transparency and giving users a voice in shaping the wallet’s future. Additionally, if the L2 Team identifies the need for additional development resources in the future, a governance proposal will be put forth to accommodate such requirements.
The submission of this comprehensive proposal marks a significant step towards creating a community-owned Station wallet that is accessible, independent, and continuously evolving. As Terra continues to grow, this initiative holds the potential to enhance the user experience and solidify the ecosystem’s long-term sustainability.
Â
Follow us on Twitter, Facebook, Telegram, and Google News
Dr. Olajide Samuel juggles the demands of medical studies with a passion for cryptocurrency. A seasoned blogger, Olajide shares his vast global knowledge of the crypto space, offering insights to enthusiasts. Despite his busy schedule, his commitment to crypto remains strong, and he actively seeks ways to contribute to its future.
