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Genuine Labs Proposes Plan for LUNC and USTC Rebirth!

Genuine Labs Proposes Plan for LUNC and USTC Rebirth!

In a bid to breathe new life into the Terra Luna Classic community, which is actively seeking to revive LUNC and USTC repeg, developers at Genuine Labs have stepped forward offering their expertise. The team has extended a helping hand with the aim of addressing the identified issues within Terra Classic. The developer team has proposed a vote to collectively tackle and resolve these challenges. Proposal 11940, titled the "Genuine Labs Terra Classic Development Proposal," has entered the governance voting phase within the community-backed Station wallet. The team is gearing up for collaborative efforts with L1 teams within the Terra Luna Classic domain.

Diving into their strategy, the developer group is set to concentrate on the seamless integration of IBC Hooks and Packet Forward Middleware (PFM) features, coupled with the development of comprehensive end-to-end and cross-chain tests for the tax fee mechanism.

Comprising the adept trio of senior developers Nguyen and Minh, alongside junior developer Dong, this team has left their mark on notable projects such as Osmosis, Quicksilver, Stride, and Composable. Their involvement extends to core repositories like Gravity-Bridge, IBC-Go, and Cosmos-SDK. Noteworthy is their creation of a fee-minimizing module.

With the aim of ushering in valuable enhancements for the Terra Luna Classic ecosystem, the team seeks $16,000 for a 6-week initiative. Initial voting results reveal an impressive 97% approval from the community, a testament to the rarity of such high support even in low-risk proposals. Despite this, 2% have opted to veto the proposal, and an additional 1% voted against it.


DISCLAIMER: This article is solely for informational purposes and not for financial, investment, or trading advice, and should not be relied upon for making decisions. Furthermore, has positions in the cryptocurrency mentioned in this article. For more see our full disclosure here.

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