Monday, December 5, 2022
HomeCrypto NewsMarketTerraForm Labs Launches New Proposal to Expand and Strengthen the Terra Ecosystem 

TerraForm Labs Launches New Proposal to Expand and Strengthen the Terra Ecosystem 

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TFL has proposed an ecosystem expansion program.  

The team behind the Terra project, TerraForm Labs (TFL), is not relenting in its quest to make Terra investors whole again. 

According to an announcement today, a new proposal that would contribute to the ongoing LUNC revival initiative was posted on Terra Agora. The proposal, dubbed Terra Expedition | an ecosystem expansion program, was created in a bid to strengthen and expand the Terra ecosystem through several initiatives. 

The program, which is expected to run for four years, will focus on incentivizing developers to build decentralized applications (dApps) on the Terra Classic network, deepening liquidity, and onboarding new users to the Terra ecosystem. 

“The Terra Expedition is a revised iteration of the Developer Mining Program and Developer Alignment Program initially defined at the launch of the Terra blockchain […] This revised proposal aims to better align incentives across the ecosystem and focus on attracting developers, onboarding users and promoting deep liquidity,” the team noted

Terra Investors React

Meanwhile, victims of Terra’s debacle are not willing to support any proposal from the company believed to have caused them huge losses worth over $40 billion. 

Many took to the comment section to air their grievances at the Terra team for putting them in an unfortunate situation. Popular Terra whistleblower, FatMan, lead the charge at the TerraForm Labs team by saying: 

“Terraform Labs scammed thousands of people through the UST scheme. Never forget, no matter how much they try to distract you.” 

Other aggrieved Terra investors also took time out to slam the Terra team. 

The major reason why LUNC investors are angry with TFL is that the team opted for a different approach as opposed to what the community wanted. LUNC investors had called on the team to burn a part of the token’s supply to boost its value, instead TFL launched a new chain and tokens as part of its compensation plans. 

Based on this, the Terra Classic community had to embark on the LUNC burn program themselves.

 

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Lele Jima
Lele Jima
Lele Jima is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.

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.

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