✍️ 30 September, 2022 – 11:44 👤 Editor: Jakub Motyka
- A group of developers dubbed ‘Terra Rebels’ are working to reconstruct Terra Luna Classic.
- The experts have unveiled a one-year roadmap with multiple network upgrades.
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Terra Luna Classic (LUNC) could be nearing a comeback after a new roadmap surfaced. A group called Terra Rebels has released a detailed plan to reboot the blockchain after May’s historic death spiral.
According to the group’s website, Terra Rebels is a decentralized organization seeking to revamp Terra Classic ecosystem. Additionally, the developers will reportedly deliver software clients for the community and validators. The group members are notably anonymous. They describe themselves generally as seasoned developers and business professionals.
Terra Luna Classic Roadmap Debut Started Second Quarter Of 2022
Terra Rebels announced their roadmap through a Twitter post. The message read: “LUNC community, It brings us great pleasure to release the official Terra Rebel Roadmap to all of you.” The post included a link to the terrarebels.net website.
The timeline for the roadmap starts from the second quarter of 2022 to the same period of 2023. According to the group, the milestone began with the formation of the entity and the release of a whitepaper. From the roadmap, 2023 will start with the test of the blockchain upgrade.
According to the post, one notable milestone is the second algorithm’s release. V2 would pave the way for a new algorithmic fungible token (AFT). The token would re-peg over the course of the roadmap.
Other measures set for the first quarter of 2023 to the second quarter includes decentralized app support through the CosmWasm upgrade. The developers will reportedly reboot the market swap module and introduce a reward mechanism. The model aims to enhance the decentralization of the blockchain.
New Roadmap Highlights Governance, Staking, And Tax Burn In Terra Ecosystem
Terra Rebels said, in a disclaimer, that the roadmap was bound to change. The group has cited governance, token staking function, and the tax burn as some the key steps. The extent to which the group can turn around the fortunes of Terra Luna Classic remains to be seen.
The announcement comes amid a new proposal by the Terra Luna Classic community to have the token list on Coinbase. Meanwhile, Terra’s co-founder Do Kwon has been put on the wanted list by Interpol. The executive is allegedly facing fraud charges.
At the time of writing, the LUNC token was trading at $0.0002829. The value represents a 1% increase in the past day. On the other hand, LUNA has not changed much in the same period. The forked token currently trades at $2.48, according to CoinMarketCap.
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