Terra Rebels have officially released the LUNC roadmap, as they call for community donations in the revival journey.
Once battered and beaten down, Terra Classic (LUNC) might rise like the phoenix from the ashes. The Terra crash of May led to a loss in investor funds at an unprecedented scale in the crypto markets.
Nonetheless, a group dubbed the Terra Rebels has taken to revive the old LUNA token, now called Terra Classic, as several measures in a laid-out plan have been revealed. The official roadmap for this revival was just released.
The official Twitter handle for the Terra Rebels recently brought the public’s attention to the development.
“It brings us great pleasure to release to all of you the official Terra Rebel Roadmap. The roadmap is readily viewable on our website here: terrarebels.net,” the handle mentioned in a tweet Thursday. They further informed the community that a change in the roadmap is possible as things progress.
It brings us great pleasure to release to all of you the official Terra Rebel Roadmap. The roadmap is readily viewable on our website here : https://t.co/OJSShSXRgN. Please be aware that the roadmap is subject to change. pic.twitter.com/AE0BZ0J6Eh
— Terra Rebels (@TerraRebels) September 29, 2022
reXx the popular figure of terra Rebels, writes:
“LUNC community, It brings us great pleasure to release to all of you the official Terra Rebel Roadmap.”
The community-based group is looking to facilitate the Terra Classic revival in a little over a year. A look at the revival roadmap shows laid-out plans for the resurrection of the asset starting from Q2 2022 to Q2+ 2023.Â
At the time of reporting, up to six measures have been successfully undertaken to start from the formation of the Terra Rebels group to the release of the whitepaper. With the release of the whitepaper, the group has about eight more measures to put in place before year-end.
These measures are expected to begin soon as they are scheduled for Q3 2022. They mostly involve a series of upgrades at the initial stage.Â
However, things get more interesting as they progress, with the team looking to end the year by working on a second algorithm that would assist in the launch of an Algorithmic Fungible Token (AFT).
Per data from the roadmap, the measures include:
- Disable market swap.
- Rework the underlying Cosmos/Tendermint skeleton.
- Upgrade to Vanilla Cosmos v0.45.8.
- Upgrade to Tendermint v.0.34.x.
- Upgrade CosmWasm v1.0.0.
- Assess burn tax.
- Begin work on v2 algorithm.
- Solidify the plan around an Algorithmic Fungible Token (AFT).
The Terra Rebels plan to start 2023 with tests of the blockchain upgrade. Furthermore, the end of the roadmap as of press time reveals a plan to work on new reward mechanisms for the network to improve decentralization.Â
Additionally, between Q1 and Q2+ 2023, the team plans to repeg the AFT and start supporting dApps through the CosmWasm upgrade.
The measures for Q1 2023 to Q2+ 2023 include:
- Testing, validation and security audit for the chain upgrade.
- Upgrade chain to parity with LUNA V2.
- Support dApps with CosmWasm upgrade.
- Repeg the Algorithmically Fungible Token (AFT).
- Deploy APS module into production
- Establish new capital controls on the AFT.
- Partially collateralize the AFT.
- Re-enable the market swap module.
- Begin work on new rewards mechanism to increase decentralization of network validators.
The Terra Rebels have officially opened the project for donations to meet these demands.
“We are also happy to announce that Terra Rebels is now capable of accepting donations, utilizing Open Collective as well as a native Terra Classic Wallet,” the handle noted. Donations are to be sent to a provided Terra wallet or through an Open Collective page.
We are also happy to announce that Terra Rebels is now capable of accepting donations, utilizing Open Collective as well as a native Terra Classic Wallet.#LUNC Open Collective | https://t.co/OXF90wq7nw
Donations Wallet Address | terra1067mhg3qwdccep2sp95cca8nmj8ds395w2rue7
— Terra Rebels (@TerraRebels) September 29, 2022
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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