No Chance for LUNC Recovery? Terra Classic Community Rejects Proposal for Revival

  1. Rejection of EVM Functionality Investigation Proposal:
  • The LUNC community faced a setback as their proposal titled ‘(Signal Prop) Investigate EVM functionality’ was rejected.
  • The proposal aimed to make the Terra platform compatible with Ethereum Virtual Machine (EVM), fostering interoperability with existing EVM-based chains.
  • Potential benefits included increased network processing power, compatibility with Optimistic transactions, and enhanced liquidity, positively impacting LUNC’s price.
  1. Reasons for Rejection:
  • DiamondHandz, a prominent community member, shared insights suggesting that the rejection may be due to concerns about the implementation costs.
  • Allnodes, one of the validators, expressed reservations about the project’s financial feasibility.
  • Some community members argued that approving analysis and investigation proposals is crucial for progress, and misunderstanding or underestimation of funding might have led to the rejection.
  1. Community Progress Despite Setback:
  • Despite the setback, the community witnessed the approval of the ‘Genuine Labs Terra Classic Development Proposal,’ focusing on making Terra more interoperable with other chains and enhancing liquidity and cross-chain DeFi applications.
  1. Overall Impact:
  • The rejection raises questions about the feasibility of LUNC’s recovery, and the community needs to address funding concerns for future proposals.
  • The approved Genuine Labs proposal offers an alternative avenue for progress and interoperability within the Terra ecosystem.

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