- Terra Luna Classic is poised for a significant transformation as developer Genuine Labs proposes to become the chain’s core developer.
- The proposal outlines a $10,000 per month funding requirement in LUNC for comprehensive maintenance and development tasks.
- Indicators such as a price breakout and golden cross suggest that LUNC could experience a strong rally soon.
Discover how Genuine Labs aims to take charge of Terra Luna Classic’s future, with predictions pointing to a potential LUNC price surge to $1.
Genuine Labs Eyes Control of Terra Luna Classic Repository
Genuine Labs, comprising three skilled developers, has put forward a proposal to oversee the Terra Luna Classic (LUNC) repository. The chain, which currently relies on community and multiple developer group contributions, is seen by Genuine Labs as needing a dedicated team for crucial operations such as code review, pull request (PR) merging, and ongoing maintenance.
Core Responsibilities and Funding
Highlighting the disbandment of the JL1TF team as a critical juncture, ‘expertdicer,’ a senior developer at Genuine Labs, emphasized the necessity for structured code reviews and maintenance to sustain the chain’s integrity. The team members have completed the Know Your Customer (KYC) process via Solidproof, reaffirming their commitment to transparency and security.
Genuine Labs’ proposal entails meticulous code reviews, PR integrations, and maintenance activities. Furthermore, the team aims to introduce new features, implement end-to-end testing, and perform interchain testing. They also plan to address security patches for crucial components such as Cosmos-SDK, IBC-Go, Comet-BFT, and Wasmd.
To support these activities, Genuine Labs is requesting a monthly budget of $10,000 in LUNC. However, the team has pledged to continue proposing additional upgrades and tasks as necessary, operating beyond the scope of standard maintenance to boost the chain’s development.
Potential for LUNC Price Surge
CoinOtag Markets’ recent analysis suggests a strong potential for LUNC’s price to rally significantly, especially following a breakout from a rectangular trading pattern. Currently consolidating at around $0.0001187, the price is expected to experience a ‘golden cross’ in the coming months, which could lead to substantial gains.
Several factors could influence this upward trajectory, including recent and upcoming upgrades, increased utility within the ecosystem, and key developments like the settlement between the SEC and Terraform Labs. To reach the anticipated $1 mark, LUNC must first breach the crucial resistance level of $0.0005.
Conclusion
Genuine Labs’ proposal to manage the Terra Luna Classic repository marks a pivotal moment for the blockchain. Their structured and transparent approach to development and maintenance could drive significant improvements in the chain’s functionality and reliability. Coupled with positive market indicators, there is a growing optimism that LUNC could experience a notable price rally, potentially reaching $1. Stakeholders and investors will keenly observe these developments, anticipating an exciting future for Terra Luna Classic.
