The core developer group of Terra Luna Classic, known as Joint L1 Task Force (L1TF), has put forward a proposal for a bug bounty program.
This program aims to enhance the security of the platform by incentivizing individuals to identify and report any potential vulnerabilities. The initiative seeks to promote a safer environment for users and developers of Terra Luna Classic.
The Joint L1 Task Force (L1TF), a core developer group supported by the Terra Luna Classic community, has announced a bug bounty program. This program aims to encourage security researchers, ethical hackers, and developers to actively participate in identifying and reporting any vulnerabilities found in the Terra Luna Classic network.
The funds for the bounty program will be exclusively sourced from the contributions received by L1TF from the community. This initiative highlights the community’s commitment to ensuring the safety and integrity of the Terra Luna Classic ecosystem.
Terra Luna Classic Launches Bug Bounty Program:
LuncBurnArmy, the project manager of Joint L1 Task Force, recently shared on Twitter that Proposal 11602, known as the “Luna Classic Bug Bounty Incentive Program,” is now open for voting. This proposal comes as the developer group focuses on reducing the circulating supply of LUNC and USTC during the third quarter.
The primary goal of the bug bounty program is to address and gain a better understanding of the bugs present in the Terra Luna Classic network. Some members have reported an increase in bugs following recent upgrades. The community will have the opportunity to vote on the proposal and determine its implementation.
https://twitter.com/luncburnarmy/status/1676062428000395265?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1676062428000395265%7Ctwgr%5E145192f5be620cbaf51a5835ae518cb00988c094%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcoingape.com%2Fjust-in-terra-luna-classic-announces-bug-bounty-program-is-lunc-0-001-next%2F
As outlined in the proposal, the bug bounty program aims to strengthen the security and stability of the network while promoting collaboration and enhancing functionality. It encourages individuals to identify and report any vulnerabilities they discover, and in return, they will be rewarded for their contributions.
The rewards for the bug bounty program will be funded by L1TF, and there is no need for a separate community spend proposal. In the initial phase during the third quarter, L1TF intends to allocate 50 million LUNC towards the bug bounty program.
The bug bounty program welcomes participation from all members of the community, as well as external developers and security experts. To ensure a responsible and ethical approach, participants are expected to follow guidelines for responsible disclosure, as well as legal and ethical standards.
This includes refraining from publicly sharing details of any vulnerabilities discovered and avoiding any malicious activities. By maintaining these standards, the program aims to foster a secure and collaborative environment for identifying and addressing potential issues in the Terra Luna Classic network.
Rewards planned under the proposal include:
1. Confirmed Station Bug: 150,000 LUNC
2. Confirmed Station Bug with developed patch: 1M LUNC
3. Verified L1 bug: 300,000 LUNC
4. Confirmed security vulnerability (Station): 300,000 LUNC
5. Confirmed security vulnerability with developed patch (Station): 1M LUNC
6. Reporting ‘Day-zero’ critical security vulnerability: 5M LUNC
7. Developing, testing, and approving ‘Day-zero’ critical security vulnerability patch: 20M LUNC.
The proposal for the bug bounty program in Terra Luna Classic has garnered strong support from the community and validators. Members and validators like JESUSisLORD, Lunanauts, and DFLunc have unanimously voted “Yes” with 100% approval. The community recognizes the importance of strengthening the network’s security, especially in light of recent developments.
The balance of the Terra Luna Classic community pool has experienced a notable decrease due to the approval of three community pool spending proposals. These proposals were successfully passed by the community, resulting in the allocation of funds from the community pool. As a result, the balance of the community pool has substantially decreased.
Will LUNC Price Recover?
LUNC Price Holding Steady, Showing Signs of Stability : The price of LUNC, the digital asset of Terra Luna Classic, is maintaining its current levels, with the price currently at $0.000087.
Over the past 24 hours, the price has fluctuated between a low of $0.0000866 and a high of $0.0000886. It’s worth noting that there has been a slight increase in trading volume during this period. This stability in price and the uptick in trading activity may indicate a promising outlook for LUNC in the near future.
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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