Genuine Labs Proposes Ambitious Revival Plan for Terra Classic (LUNC) and USTC, Community Overwhelmingly Supportive
In a bid to breathe new life into Terra Classic (LUNC) and USTC, a promising contender has emerged on the scene. Genuine Labs, a team of seasoned developers hailing from the Cosmos stacks, has presented a comprehensive proposal aimed at addressing the challenges faced by these cryptocurrencies and ushering in a renaissance.
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#LUNC community,
I am registering a new proposal – 11940 – Genuine labs Terra Classic development proposal.
Honestly, we don't have enough information to vote at this time.
Anyway, Luna Classic Labs insists that a proposal must meet the criteria under our voting approach:
YES… pic.twitter.com/EI2dEctUKb
— 🌕 LunaClassicLabs.com – LUNC Validator (@LunaClassicLabs) December 23, 2023
The proposal, currently under community vote, meticulously identifies key areas for improvement, with a particular focus on IBC Hooks and Packet Forward Middleware (PFM) functionality. Genuine Labs envisions an integrated approach to enhance these features, including robust end-to-end and interchain testing to fortify the critical fee tax charging mechanism.
Boasting a team with a stellar track record, Genuine Labs brings forth experienced developers who have previously contributed to projects like Osmosis and Quicksilver, along with core repositories such as Gravity-Bridge and IBC-Go. Their specialization in fee abstraction modules adds a layer of credibility to their expertise.
Community response has been overwhelmingly positive, with an impressive initial approval rating of 97%. Validators, recognizing the proposal’s potential, have rallied behind Genuine Labs, signalling a shared vision for the future of Terra Classic. The community’s resounding support is evident in the numbers, reflecting a strong backing for the revival initiative.
Traders have also taken notice of the unfolding narrative. LUNC’s price has surged by 3%, accompanied by a notable increase in trading volume, indicative of renewed interest in the cryptocurrency. Similarly, USTC witnessed a 3% uptick, coupled with a staggering 120% surge in trading volume, driven by a flurry of USTC burn proposals circulating within the community.
While the initial signs are encouraging, challenges loom on the path to recovery. Genuine Labs must navigate the remaining 3% of community dissent to secure definitive approval. The implementation of their ambitious plans will demand overcoming technical and logistical hurdles, putting their capabilities to the test.
Genuine Labs’ intervention injects a much-needed dose of optimism into the Terra Classic narrative. With their expertise and unwavering community support, the collaboration holds the potential to spark a sustainable revival for LUNC and USTC. The upcoming weeks will be pivotal, in determining whether the Cosmos ecosystem’s helping hand can guide Terra Classic toward a brighter future.
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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.
