Terra Luna Classic’s core developer, L1TF, has disclosed the next step in the LUNC revival roadmap as it transitions into maintenance mode.
The core developer of Terra Luna Classic, known as L1 Task Force (L1TF), has shared their next steps in the Terra Luna Classic revival plan. They intend to enter maintenance mode in Q4, concentrating on addressing blockchain and Dapp-related issues, along with supporting approved governance proposals. Despite these efforts, the prices of LUNC and USTC are still facing downward pressure.
Terra Luna Classic L1TF Enters Maintenance Mode
In a recent X post, L1TF developer Vinh Nguyen shared important updates. The L1TF developer team has returned 344 million LUNC to the community pool, which now contains 2.10 billion LUNC and 6.08 million USTC, as reported by StakeBin.
Starting from October 17, 2023, and running until January 17, 2024, the Terra Luna L1 Task Force has entered maintenance mode for Q4. During this period, they will focus on addressing issues with the Astroport dapp, blockchain-related problems, and supporting governance-approved L1 developments.
Furthermore, Vinh Nguyen emphasized that the team’s next objective is L2 onboarding, a plan they’ve been carefully strategizing for months. This initiative, initially suggested by Professor Edward Kim, is set to play a significant role in the project’s future. In addition, the team intends to prepare the roadmap for the upcoming year in Q4.
Vinh Nguyen stressed the importance of L2 maintenance alongside L1, stating, “The chain needs maintenance on L2, it is as important as L1. The next focus is about L2 onboarding. So, I have decided to stabilize L1.”
Moreover, the L1TF development team is actively seeking qualified individuals to oversee L2 onboarding and marketing. These efforts will be instrumental in resolving issues and bringing decentralized applications (dapps) to the Terra Luna Classic blockchain.
LUNC and USTC Prices Decline
Terra Luna Classic and USTC prices are facing a drop in value due to the recent decline in the overall altcoin market. Despite important proposals, the tokens in the Terra Classic ecosystem have struggled to gain positive momentum. The departure of key members from L1TF has also had a lasting impact on the chain and the price of LUNC.
As of now, LUNC is trading at $0.000056, reflecting a decrease of over 2% in the last 24 hours. Similarly, the price of USTC has also declined by 2% during the same period.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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