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- L1TF suggests a maximum limit for LUNC supply during July and August.
- Terra Classic will transition from Columbus-5 to Columbus-6 in August and September.
In the third quarter, the Joint L1 Task Force (L1TF), tasked with developing the foundational infrastructure of Terra Luna Classic, has put forth a new proposal aimed at advancing the network’s development and upkeep. The primary objective of the L1TF development team is to utilize the market module to enhance and accelerate the reduction of LUNC and USTC supply.
To assist external teams such as ‘quant’ in the USTC repeg initiative, the L1TF intends to upgrade the Cosmos SDK, incorporate Edward Kim’s Block Entropy AI app chain, enable Token Factory, among other enhancements.
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The project manager for the Joint L1 Task Force LuncBurnArmy has informed the Terra Luna Classic development team regarding a new proposal for Q3. The team has upgraded the Cosmos SDK to version 0.45.13 and Tendermint to version 0.34.24, and has established a minimum validator commission of 5%, which gives them confidence in submitting their Q3 activities and budget.
L1TF proposes a maximum limit for LUNC supply in July and August, along with an upgrade to a stable version of Cosmos SDK and testing of the market module within the USTC test environment. To decrease blockchain size and enhance efficiency for validators and infrastructure providers, Terra Classic will transition from Columbus-5 to Columbus-6 in August and September.
Regarding Terra Classic and the ‘quant’ team for USTC repeg, the Joint L1 Task Force will work with Edward Kim to implement the Block Entropy AI app chain. The proposed budget for the third quarter is $133,000 (1.48 billion LUNC). At the end of each quarter, any unspent funds from the budget will be returned to the community pool.
