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HomeCrypto NewsMarketTerra Classic L1JTF Seeks to Launch Community-Owned Mobile Wallet App & L2 Team

Terra Classic L1JTF Seeks to Launch Community-Owned Mobile Wallet App & L2 Team


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The Terra Classic L1 Team proposed creating a LUNC Station wallet owned by the community and managed through governance.

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Steve, commonly known as LuncBurnArmy (LBA), the project manager of the Terra Classic L1 Team, has submitted a proposal to create a Station wallet owned by the community. The proposal also aims to introduce an L2 Team tasked with managing updates to the wallet.

This endeavor seeks to achieve objectives such as enhancing the existing Station wallet’s codebase, diversifying client wallets, and alleviating the burden on TFL (Terraform Labs) in terms of testing Station for LUNC upgrades pushed by the L1 Team.

LBA recently released the proposal on Commonwealth and further called public attention to it through his Twitter handle.

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To ensure widespread accessibility, the community-owned wallet will be made available across various platforms. These platforms include a user-friendly web version of Station, a mobile application compatible with iOS and Android devices, and a Chrome extension. 

To ensure complete independence from the Terraform Labs, the community had previously encouraged the development of forked versions of the official Station wallet, such as the Rebel Station. However, these wallets are under the control of specific groups or individuals. The L1 Team’s proposal seeks to create one controlled by the community.

By placing ownership and governance of the wallet in the hands of the community, this move aims to foster inclusivity and sustainability, offering users a dependable and regularly updated wallet experience. 

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The funds required for the initial stages will come from the L1 Team’s computing budget. As a result, there will be no need for a separate proposal regarding community expenditure at this juncture. However, the L1 Team recommends setting up a monthly budget of up to $3,000. This is for covering management, maintenance, and upgrades of the wallet.

Introduction of a Terra Classic L2 Team

The proposal also seeks to create a separate L2 Team independent of the existing L1 Team. Working autonomously in the Terra Classic ecosystem, part of this L2 Team’s work will include ensuring stable wallet operations, particularly in the aftermath of updates. They will work in collaboration with the L1 Team.

In the event of a significant change in the features of the community-owned wallet, the L1 Team will put up a proposal for a community governance vote. In addition, should the L2 Team discover the need to include further development resources in the future, a governance proposal for such inclusion will come up.

This latest proposal came up a week after the L1 Team successfully upgraded Terra Classic to v2.1.1, introducing parity to Luna 2.0 and Cosmos. However, following the upgrade to parity, the LUNC blockchain faces a series of issues. 

The aftermath of the parity upgrade has affected community opinion on this wallet proposal. While some Terra Classic proponents support the proposition, others first call for a resolution of the post-parity issues.

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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.



Albert Brown
Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

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