Terra Classic Community Proposes Binance CEO CZ for Leadership in Revitalization Efforts.
The Terra Classic (LUNC) community has made a bold decision by suggesting the formation of a central authority to address internal conflicts. They have nominated Changpeng Zhao, the CEO of Binance, a renowned cryptocurrency exchange, for this leadership position.
Let’s explore the proposal in more detail, discussing the reasons behind the community’s support and the potential effects it could have on the Terra Classic ecosystem.
Critical Requirement for a Central Authority:
The community’s proposal, known as number 11614 and submitted on June 29, stems from their urgent need to address ongoing conflicts within the Terra Classic ecosystem. They believe that establishing a central authority would be crucial in revitalizing the ecosystem by efficiently managing blockchain resources, coordinating development efforts, and making strong decisions that support the revival of Terra Classic.
Is CZ the Right Choice for the Role?
The person considered for this important role is Binance CEO CZ. The reason for choosing him is based on Binance’s support for LUNC burns, CZ’s expertise in cryptocurrency, and his access to ample resources necessary for development activities.
https://twitter.com/CosmoSreXx/status/1675743190505144320?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1675743190505144320%7Ctwgr%5Ed3b6b1171493e9c5ec6d8a567f369fe2d933d43e%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcoinpedia.org%2Fnews%2Flunc-proposal-aims-to-appoint-binances-cz-as-leader-of-terra-classic-amidst-internal-turmoil%2F
The community imagines CZ leading the Terra infrastructure, overseeing the development of L1 and L2, and making important decisions regarding the governance of LUNC. Their goal is to drive the value of LUNC towards the desired $1 milestone.
Advancements within the Community:
In an important update, the Terra Luna Classic community voted in favor of a proposal put forth by the core developer Joint L1 Task Force (L1TF) on June 30th. The L1TF developer group aims to accelerate the reduction of LUNC and USTC supply by leveraging the market module. Their primary focus is on Q3 chain developments and maintenance.
A Significant Setback in Progress:
However, the Terra Luna Classic community faced a setback when they rejected the proposal for the Terra Allies ‘Six Samurai’ team. This assembly of six experienced developers aimed to revitalize the Terra ecosystem but was turned down due to insufficient funds in the community pool. Despite this setback, the community remains determined and resilient in their efforts to revive the Terra Classic ecosystem.
The recent LUNC community proposal for CZ’s leadership showcases the community’s practical approach to addressing internal issues and their strong determination to revive the Terra Classic ecosystem.
The outcome of this proposal has the potential to be a significant milestone in the journey of Terra Classic. The community is working hard to overcome challenges and unleash the full potential of the ecosystem, with the guidance of a central authority led by Binance CEO CZ.
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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