2 years ago
While the co-founder of Terraform Labs has been sentenced to 4 months successful jailhouse successful Montenegro, a squad of six anonymous developers person been attempting to revive the Terra Classic ecosystem aft its illness successful May 2022. The six programmers, known arsenic the “Six Samurai,” wholeheartedly judge that luna classical (LUNC) has “limitless upside potential.”
Developers Rally to Breathe Life Into Terra Classic
Following the collapse of the Terra ecosystem successful May 2022, a caller blockchain called Phoenix was formed, and the web issued caller luna (LUNA) tokens. However, the aged blockchain, present referred to arsenic the “Classic” network, continues to beryllium and has a marketplace valuation of astir $531 cardinal arsenic of Monday, June 26, 2023. The autochthonal token of the Terra Classic chain, present known arsenic luna classical (LUNC), presently trades astatine astir $0.00009140 per unit.
A radical of developers, self-identified arsenic the “Six Samurai,” present aims to revive the struggling web and infuse caller beingness into the Terra Classic blockchain ecosystem. The Six Samurai released a proposal outlining their idea, which was submitted by 2 developers named Bilbo Baggins and Solid Snake.
“If this connection passes the full squad volition dedicate themselves to performing their duties for the full quarter, truthful the assemblage doesn’t person to interest astir anyone leaving partway done it,” the developers Bilbo Baggins and Solid Snake detail.
Although LUNC has experienced a 0.6% summation since the proposal, it pales successful examination to its all-time precocious of $119 per unit, which was recorded connected April 5, 2022. However, LUNC has surged by 9,029% from its all-time debased of $0.000000999967, which was registered connected May 13, 2022, soon aft the illness of Terra’s ecosystem.
This is not the archetypal lawsuit of developers discussing the revival of the Terra Classic ecosystem. In precocious April 2023, supporters of Terra Classic deliberated connected restoring terrausd classical (formerly UST) to its $1 parity. However, the program ne'er afloat materialized, though terrausd classical (USTC) experienced a flimsy summation during the week the thought was deliberated.
The Six Samurai connection encompasses galore ideas to revive the chain, specified arsenic token burns, the constitution of a USTC testnet, and the instauration of a feeshare module. The token pain conception entails “burning each the LUNC reminted from Binance customers’ fees to date.” A reappraisal of the remark conception successful the connection reveals that respective individuals expressed enactment for the idea.
What are your thoughts connected the Six Samurai’s connection to revive Terra Classic? Share your thoughts and opinions astir this taxable successful the comments conception below.
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