Terra Luna Classic core developer Joint L1 Task Force (L1TF) submitted a proposal to create a community-owned wallet, which will be managed by the Terra Luna Classic (LUNC) community through governance. LUNC validator Happy Catty Crypto has submitted a similar proposal for voting to prioritize building wallet infrastructure and prevent privatization.
The proposal recommends Professor Edward Kim, a trusted figure in the community, be responsible for the domain and other controls of infrastructure. The Joint L1 Task Force will develop the community-owned wallet free of charge. Costs such as domain registration and hosting can be used from Joint L1 Task Force’s compute budget.
As Happy Catty Crypto’s proposal is based on the L1TF proposal, the developer team will create a Terra Luna Classic community-owned web version of Station, iOS & Android mobile apps, and Chrome browser extension.
Similar to L1TF, validators, and the community believes privatization and reliance on TFL must reduce to improve the reliability and uptime of the Station. Many members argue the community should stop funding Terra Rebels for Rebel Station and infrastructure.
LUNC price jumped 4% in the past 24 hours, with the price currently trading at $0.000083. The 24-hour low and high are $0.0000799 and $0.0000853, respectively. Terra Luna Classic fell below key support amid a recent pullback in the broader crypto market.