Terra Classic’s 160M LUNC Funding Proposal Enrages Community


 The Terra Luna Classic community got into a heated debate after developer Vinh Nguyen posted a funding proposal for developer work to be done in Q4 of 2023. The community is already split into two camps, as some members point out flaws made by the Layer-1 Joint Task Force (L1JTF) in Q3, which harmed several dApps on the chain.


160M LUNC for Voluntary Work?

Many prominent community members pointed out that the Layer-1 Joint Task Force’s spending proposal promises to ”solve technical debts and stabilize layer 1 voluntarily.” Nevertheless, the proposal by L1JTF still requested $9,000, or 160 million LUNC, to cover the computing budget for the three months of Q4.


This polite request didn’t bode well with several validators on the Terra Classic chain. Jebediah Shekelstein argued, “we’ll get nowhere with just the 3 dudes left on the current team.” WSB Trader Rocko rhetorically asked: “Can someone from the $LUNC community explain how someone can work for completely free but also want $9k Opex money?”

Shekelstein refers to Superman, Vinh, and Gevik – the three active members of L1JTF. Another three previous members of the voluntary developer team left the dev collective a few months ago due to safety concerns.


Terra Luna Classic is hanging off a cliff, occupying the #100 position by global market capitalization. $LUNC market price has remained stagnant throughout the week, with a slight drop of 1.3% in the last seven days. Technically, the short-term downturn for $LUNC is caused by insufficient support for a breakout.


However, LUNC trades at just $0.00005703, failing to reclaim the crucial northward resistance at $0.00006 since September 10th, 2023. The currency MACD points to a minor bullish divergence, as some oversold conditions remain. 

Regardless, crypto traders on Twitter forecast a hard time before a breakout happens, some even expecting a full retracement to Terra Luna’s all-time low if it doesn’t break out of the bearish trading channel with support from the 20-day moving average (MA).

On the Flipside

Samurai Team has offered to lend a helping hand in Terra Classic’s chain revitalization crusade. 
However, the proposal to assemble the Six Samurai Team has yet to pass the voting threshold.

Why This Matters

Governance proposals are an efficient way to make collective decisions in crypto communities.


Source : DailyCoin by Tadas Klimasevskis / September 20, 2023

rayn.finance logo


240 rue Evariste Galois,

06410 Biot,

Sophia Antipolis

Automata Pay

65-66 Warwick House 4th

Floor, Queen Street, London

England, EC4R 1EB

Automata Pay Europe Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata ICO Ltd

Italian Branch

Via Archimede, 161,

00197 Roma


The purchase of digital assets is subject to a high market risk and price volatility. Changes in value can be significant and occur rapidly and without warning. Past performance is not a reliable indicator of future performance. The value of an investment and returns can fluctuate both up and down, and you may not recover the amount you invested. RISK WARNING

Automata ICO Limited has a branch in Italy with its registered office at Via Archimede, 161, Roma, Italy, and registered in Italy under number 96550860587 with the Organismo Agenti e Mediatori (OAM) as a Virtual Asset Service Provider (VASP).

Automata France SAS is a company registered in France with the company number 902 498 617. Automata FRANCE SAS is registered with the french Financial Market Authority, l’Autorité des marchés financiers (“AMF”), as a provider of Virtual Asset Service Provider under number E2023-087.

Automata Pay Europe Limited is a partner of Modulr Finance B.V., a company registered in the Netherlands with company number 81852401, which is authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution (Firm Reference Number: R182870) for the issuance of electronic money and payment services. Your account and related payment services are provided by Modulr Finance B.V. Your funds will be held in one or more segregated accounts and safeguarded in line with the Financial Supervision Act.