In an unprecedented move, Terra Classic JTF Returns 344M Unused Funds from Q3 2023, marking a significant development in the world of cryptocurrencies. This comes as the Layer One Joint Task Force (L1JTF), a core group of developers within the Terra Luna Classic (LUNC) community, embarks on a rigorous revitalization campaign.
A Noteworthy Refund
Leading this revitalization campaign is Vinh Nguyen, the squad leader of L1JTF, who has shown unwavering commitment to addressing the bugs plaguing the LUNC ecosystem. Nguyen recently announced that the unused funds from Q3 2023, amounting to 344 million LUNC tokens, have been returned to the community pool (CP).
This is a significant development, as these funds were initially allocated to support the developer work of L1JTF for the third quarter. The returned amount can now be utilized for the upcoming quarter’s ecosystem developer tasks, thereby bolstering the LUNC community pool holdings to 2.12 billion LUNC and 6.1 million Terra Classic USD (USTC).
Entering Maintenance Mode
Following this announcement, Nguyen revealed that the L1JTF development team has entered maintenance mode for Q4 2023, a period spanning from October to January 2024. During this time, the team will focus on three main tasks:
- Resolving issues surrounding Astroport, a leading decentralized exchange built on the Terra Classic blockchain.
- Addressing technical chain issues.
- Supporting pull requests for governance-approved L1 logic.
A Look Ahead
As the team gears up for these tasks, community members are keen to know what lies ahead. Responding to a query about the team’s activity roadmap, Nguyen stated that the roadmap for the next year would be prepared during the Q4 maintenance period.
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