terra luna Classic Core Developer Makes Big Offer: LUNC for $1?
Terra Luna Classic developer Original Labs is offering to become the official core developer of the Terra Classic chain. The developer group believes that the chain needs a team for code review, PR merge, and maintenance, and this became critical after JL1TF was deployed.
Original Labs Offers to Manage Terra Luna Classic Repository
Original Labs, a team of three developers, submits a bid to be the maintenance team for the classic world/core repository. The core repository is currently managed by the community and different developer groups.
“Since the JL1TF team disbanded, the need for a team to assist with code review, PR merge and chain maintenance has become increasingly important,” said a senior developer known as ‘Expert’.
All three team members of Original Labs have gone through the required KYC processes through strict proof. They believe that regular maintenance updates are necessary for the Terra Luna Classic blockchain.
According to the proposal, their work includes:
- Code review, PR merge and repository maintenance.
- Integrate new features with e2e-testing and cross-chain testing.
- Maintain security patch for Cosmos-sdk, ibc-go, comet-bft and wasmd.
- Other technical support
- Support during online and chain upgrade
Original Laboratories charges $10,000 per month in LUNC for maintenance and the above-mentioned tasks. The team will continue to work in accordance with the PPJ to recommend other tasks such as upgrades that are not maintenance related.
Also Read: Terra Luna Classic Votes on LUNC Payment Proposal
Can LUNC Price Increase to $1?
With the burning of Binance, the latest upgrades and upcoming upgrades like cosmos SDK 0.50, increasing utility, agreement between the SEC and Terraform Labs and co-founder Do Kwon, LUNC price may start moving towards $1. However, it must first surpass the $0.0005 resistance level.
Analysis from parofix Markets points to a likely 65% upside in LUNC price following a breakout of the rectangular pattern with the $0.00012 support. LUNC price is currently in a consolidation phase and a ‘golden cross’ is expected in June, which will initiate a major rise in LUNC.
LUNC price has pared its 200% rally this year to just 50%, and a breakout with a bullish pattern is expected to reach a target price of $0.0005. The price is currently trading below the key support zone at $0.0001187.
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Varinder has 10 years of experience in the Fintech industry and has been dedicated to blockchain, crypto and Web3 development for over 5 years. A tech enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in more than 5,000 news stories, articles, and articles. Varinder believes in the great potential of future innovative technologies with parofix Media. He currently covers the latest updates and developments in the crypto industry.
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