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.
Congratulations to Do KWON, he defrauded a lot of people and stole their money. Instead of being punished and jailed, he released another ponzi and continues to defraud people again. 😘😘 I also condemn CZ, who still supports this project and allows people to be scammed.
— Enver temlik (@ETemlik) October 17, 2022
This project is over. Just give up. Don’t pretend like nothing happened.
HISTORY cannot be erased
— Youie (@youie23) October 17, 2022
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.