• There is bullish sentiment across Terra Classic (LUNC) investors due to a massive upgrade of the protocol.
• The proposal 11168 which was passed will fund the Joint L1 Task Force for the first quarter of this year.
• This proposal is seen as one of the most important in the history of Terra Classic.
The Terra Classic (LUNC) community is in an uproar due to the recent passing of Proposal 11168, which will see the sum of $141,000 in LUNC allocated to support the Joint L1 Task Force. This proposal was seen as one of the most important in the history of Terra Classic and the news has lead to bullish sentiment among investors.
The Joint L1 Task Force is a group of developers that are dedicated to improving the usability of the Luna Classic Layer 1 platform through regular upgrades and developments. The funding of the Task Force for the first quarter of this year will help with the development of the protocol, allowing for better usability and security.
The news of the passing of Proposal 11168 was revealed by renowned Terra Classic community influencer „Classy“ on Twitter. They described the proposal as “one of the MOST Important $LUNC Proposals In HISTORY” and the community has responded to the news with great enthusiasm. The Terra Classic price is up 1.7 percent today and the cryptocurrency has regained its relevance in the market, ranking as the 40th biggest cryptocurrency.
It is not uncommon for protocols to allocate some funds to active developer work as Luna Classic has recently done. The unanimous passing of Proposal 11168 is seen as a testament to the community’s dedication to the development of the protocol. After the first quarter of the year, the community will assess the work done by the group and decide whether to continue with the funding or not.
Overall, the news of the passing of Proposal 11168 has been met with great enthusiasm from the Terra Classic community and has lead to bullish sentiment across investors. The funding of the Joint L1 Task Force will be instrumental in the development and improvement of the protocol and will ensure that the protocol remains secure and usable.