Saturday, December 3, 2022
HomeCrypto NewsMarketTerra Classic Core Developer Asserts No One Will Mint More LUNC

Terra Classic Core Developer Asserts No One Will Mint More LUNC

- Advertisement -

Developer spat over how to repeg USTC raises centralization concerns.

In a tweet on Tuesday, Tobias Andersen, AKA Zaradar, a Terra Classic core developer, asserted that no one would be minting more LUNC as long as he remains in charge.ย 

The statement comes in response to a proposal to mint 500 billion LUNC as part of a plan to restructure and repeg UST by Alex Forshaw.

“We can fix USTC without minting more LUNC,” Zaradar wrote. “Don’t make other peoples bad ideas my personal problem, and trust me when I say that as long as I’m in charge of the code, no one will be minting additional LUNC tokens.”

Consequently, Zaradar’s comments have sparked centralization concerns. Nonetheless, the developer has pointed out that some level of censorship is inevitable as there are only two core developers on the project.

Moreover, when asked if his stance would remain the same if the network votes for the proposal, Zaradar responded in the affirmative. Highlighting that he continues to work for free, he noted that he could not implement such a proposal but will also not stand in the way if the community can get others who will.

While Zaradar’s statements have garnered the support of those opposed to the proposal, they have also highlighted the need for the community to find ways to fund development and attract developers to the network.ย 

It bears mentioning that TerracVita, a group comprising some key members of the Terra Rebels, launched a LUNC validator in September to do just that.ย 

The community awaits Zaradar’s USTC repeg proposal as debates continue over the proposal from Forshaw.

- Advertisement -
Mark Brennan
Mark Brennan
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

- Advertisment -

Recent News & Articles

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.