Terra Luna Classic All Set for Community-owned Wallet

• Nearly 71% of voters approved the initiative, while 2% disapproved and 27% stayed neutral.
• The community-owned wallet will be developed at no cost by the Joint L1 Task Force.

The Terra Luna Classic (LUNC) community will administer a wallet that is owned by the community and operated by the Joint L1 Task Force (L1TF). The Terra Luna Classic community has approved LUNC validator Happy Catty Crypto’s updated proposal to avoid privatization and emphasize creating wallet infrastructure.

As Proposal 11645 “L1 Team To Build Wallet Infrastructure” filed by Happy Catty Crypto gained enough votes to succeed, it is now deemed to have been successfully approved. Nearly 71% of voters approved the initiative, while 2% disapproved and 27% stayed neutral.

No Development Cost

The proposal has been supported by 20 validators so far. Based on the L1TF concept, the development team proposes to create a community-owned web version of Station for Terra Luna Classic. As well as iOS and Android applications and a Chrome extension. The community-owned wallet will be developed at no cost by the Joint L1 Task Force. The Joint L1 Task Force may utilize the computing budget for things like domain registration and web hosting.

The plan for endpoint infrastructure will be prepared separately. It suggests that Professor Edward Kim, a respected member of the community, takes charge of the domain and other infrastructure controls. However, the community places a premium on the wallet’s infrastructure development. And the creation of an L2 team to oversee the wallet’s operations in its entirety.

With a majority vote in favor, the Terra community has earlier approved the on-chain request to upgrade to Phoenix v2.4. According to CMC, the price of LUNC is $0.00008891 and is up 0.25% in the last 24 hours.

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