HomeCrypto NewsMarketProposal Passed To Allocate 937.5M LUNC To Terra Rebels

Proposal Passed To Allocate 937.5M LUNC To Terra Rebels


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Terra Classic Proposal Allocating 937.5M LUNC To Terra Rebels Passes Governance Vote.

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Validators on the Terra Classic network have voted to approve 937.5M LUNC for Terra Rebels to make Rebel Station independent of TFL infrastructure.ย 

A proposal to allocate 937.5 million Terra Luna Classic (LUNC) to the Terra Rebels to make Rebel Station independent of Terraform Labs infrastructure has passed the governance vote, according to a tweet from community influencer Classy (@ClassyCrypto_).

The Terra Rebels confirmed the development in a tweet hours later. Thanking validators for their support, the independent developers’ group pledged to make contributions that would ensure the chain’s sustainability.

“Thank you to the validators and community for contracting us to secure the chains wallet interface and backend infrastructure,” the group wrote. “We look forward to providing the chain with deliverables, building out and maintaining software clients that will see lunc far into the future.”

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Recall that the Rebels launched the proposal after TFL support of The Terra Station for the classic network came into question earlier this month, highlighting the risks of TFL dependence. In a bid to provide a community-owned wallet alternative, the Terra Rebels launched the proposal requesting almost $150k from the community pool. As previously reported, the proposal says it will take developers two months to separate Rebel Station from TFL infrastructure.

Despite passing the governance vote, it is worth noting that several influential voices within the community remain opposed to the proposal.

TerraCVita, a competing development group, described it as a waste of community pool funds. Contrary to the Terra Rebels’ assertion that the work will take two months, the TerraCVita says the work can be accomplished by a single developer in just a few days.

LUNCPenguins member StrathCole (@ColeStrathclyde), in a lengthy Twitter thread picking apart the proposal, expressed the opinion that it failed to give a detailed breakdown of how exactly the Terra Rebels will spend the funds. According to StrathCole, the community is better spending the money carrying out the upgrades that will make the Terra Classic chain compatible with the Interchain Station, as uncertainties over continued Terra Station support have been cleared.

Popular Community validator LUNC DAO disclosed that they could not understand the rationale of validators who voted for the proposal they believed to be vague.

It bears mentioning that TFL independence has always been in the Terra Rebels roadmap. In September, core developer Edward Kim noted that several developers hoping to help rebuild the chain were hesitant due to ties to Do Kwon and TFL.

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Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
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.

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