- Terra Luna Classic’s community rejected a proposal to establish a paid developer team, favoring their existing pay-per-job model over concerns of inefficiency and lack of transparency.
- This decision coincided with a broader crypto market downturn, where Luna’s price declined by 29% over the previous month, emphasizing the community’s focus on cost control amid market volatility.
In a recent development within the Terra Luna Classic (LUNC) community, Proposal #12093 to establish a paid team of developers has been decisively rejected. This decision highlights a divergence in governance models and priorities within the project, particularly during a challenging period for the broader cryptocurrency market.
The proposal aimed to emulate a system akin to the defunct Layer-1 Joint Task Force (JLTF), which faced criticism and eventual abandonment due to concerns over centralization and cost efficiency. However, the LUNC community, entrenched in its existing pay-per-job (PPJ) framework and the implementation of a know-your-customer (KYC) policy for developers, voiced strong opposition to the new governance approach.
Critics of the proposal argued that instituting a paid team of developers would introduce inefficiencies and lack transparency, potentially slowing down the project’s progress. Instead, the community appears steadfast in prioritizing cost control and maintaining the current PPJ-based model, which rewards developers for individual tasks rather than sustained employment.
I vote "NO" in #LUNC proposal 12093 – "Establish a Terra Classic Team".
— 🌕 LunaClassicNode.com – LUNC Validator (@LunaClassicNode) April 15, 2024
I think that this proposal is a return to our dark past, when the system of monthly payments for L1 Team proved ineffective in terms of management, efficiency, transparency and sustainability.
Personally, I… pic.twitter.com/dnQx1BWJhU
The rejection of Proposal #12093 coincides with a broader downturn in the crypto market, with Luna’s price experiencing a significant 29% decline over the past month. Although LUNC has since seen a modest recovery, it remains far from its peak value of $0.000258 recorded in December 2023.
As of the latest data from CoinMarketCap, Terra is currently trading at $0.000100, representing a marginal decrease of 0.19% in market capitalization over the past 24 hours. Market analysts speculate that LUNC’s value could potentially rebound should it break out of its current bearish trajectory.
The community’s resolute stance against establishing a paid developer team underscores its emphasis on fiscal prudence and decentralized development practices. By continuing to rely on a PPJ-based system, the LUNC community reaffirms its commitment to controlling costs while maintaining an open and flexible approach to project development.
Community Priorities Amid Market Volatility
The rejection of the paid developer team proposal reflects a broader sentiment within the Terra Luna Classic community—a commitment to fiscal responsibility and decentralized development. This stance, taken amidst a challenging market environment, underscores the community’s dedication to navigating market volatility while upholding its core principles and operational frameworks.
