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HomeCrypto NewsTerra Classic Joint L1 Task Force Completed Q1 Goals Under Budget: Project Manager

Terra Classic Joint L1 Task Force Completed Q1 Goals Under Budget: Project Manager


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The Joint L1 Task Force ends Q1 on a high.

In December, the Terra Classic Joint Layer 1 Task Force was contracted with only one purpose: to conduct “essential maintenance upgrades” on the Terra Classic network. To this end, the team conceived by Edward Kim and Tobias Andersen, popularly known as Zaradar, received over $141,000 in community pool funding for Q1 2023.

LuncBurnArmy (@luncburnarmy), the team’s project manager, in a status report published yesterday, disclosed that the team achieved all its Q1 targets and additional features not outlined in its original roadmap, as they were ahead of schedule for their Q1 targets. What’s more, LuncBurnArmy revealed that the team achieved this under budget.

“Q1 was completed under budget!” the project manager wrote in a thread. “This means that we will be returning some funds to the community pool. We are just awaiting a few final invoices for the month of March to provide the exact amount.”

Notably, some of these funds are in USDC and would need to be converted. The group also plans to provide public access to receipts of payments and a breakdown of its expenses.

The team’s efficiency has not gone unnoticed, as several community members appreciated the team’s efforts.

As reported by The Crypto Basic last week, the team has already submitted its roadmap for Q2 and a funding proposal. If approved, the Joint L1 Task Force promises to bring about parity with the rest of the Cosmos ecosystem.

Notably, this has been among the most important short-term goals of the community. The network took its first step toward achieving this with the re-opening of Inter Blockchain Communication channels last year. Parity with the rest of the Cosmos ecosystem is important as it could tempt developers building for other chains to also consider building on the Terra Classic network to attract its budding community, speeding up the resurrection of the lost economic activity following the Terra crash in May.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Okoya David
Okoya David
Okoya David Kio is a crypto enthusiast passionate about understanding what makes the nascent market tick. When he's not pondering about cryptocurrencies, you might find him in a BP debate room trying to proffer solutions to age-old societal problems.

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