L1TF Proposes Community-Owned Wallet for LUNC

The Joint L1 Task Force (L1TF), a group of Terra Luna Classic core developers, has proposed the creation of a community-owned wallet that will be governed by the Terra Luna Classic (LUNC) community.

The Terra Luna Classic community officially approves LUNC validator Happy Catty Crypto’s revised proposal to prioritize constructing wallet infrastructure and prevent privatization.

Proposal 11645, “L1 Team To Build Wallet Infrastructure,” submitted for voting by Happy Catty Crypto, has received support from the community and is now deemed passed as it surpassed the pass threshold.

The proposal has received nearly 71% “Yes” votes, 2% “No” votes, and 27% “Abstain” votes.

Twenty validators, including Allnodes, HappyCattyCrypto, JESUSisLORD, Classy’s Sphere, and PFC, have supported the proposal up to this point.

In the meantime, validators, including Interstake One, Luna Station 88, and StakeBin, voted “Abstain,” and one validator voted against the proposal.

Based on the L1TF proposal, the developer team will construct a community-owned web version of Terra Luna Classic’s Station, iOS and Android mobile apps, and a Chrome browser extension.

The Joint L1 Task Force will develop the wallet at no cost to the community. The Joint L1 Task Force’s computed budget may be utilized for expenses such as domain registration and hosting.

For the endpoint infrastructure proposal, a distinct proposal will be drafted that recommends Professor Edward Kim, a respected member of the community, be in charge of the domain and other infrastructure controls.

Nonetheless, the community prioritizes the development of the wallet and its infrastructure, as well as the formation of an L2 team devoted to administering all aspects of the wallet.

Validators and the community concur with L1TF that privatization and reliance on TFL must be reduced to enhance Station uptime and reliability.

Many members argue that the community should cease funding the Rebel Station and infrastructure of Terra Rebels.

In the past twenty-four hours, the price of LUNC has increased by 3% and is currently trading at $0.000088. The 24-hour low is $0.0000867, and the 24-hour high is $0.0000896.

Terra Luna Classic fell below critical support as the cryptocurrency market as a whole retreated recently.

The current price of USTC is $0.018, up 7% in the last 24 hours and 40% in the previous week. The trading volume has increased by 100 percent in the past twenty-four hours.