Terra Classic JTF Returns 344M Unused Funds from Q3 2023, Enters Q4 Maintenance Mode

L1JTF returns 344 million LUNC tokens, enters maintenance mode, and prepares to address bugs in Terra Luna Classic’s ecosystem.

The embattled Terra Luna Classic (LUNC) ecosystem has continued striving for a much-needed revitalization. Leading the efforts is Layer One Joint Task Force (L1JTF), a core developer group in the LUNC community.

In a recent statement, Vinh Nguyen, the squad leader of L1JTF, expressed his determination to tackle bugs that have further plagued the LUNC ecosystem. In the tweet, Nguyen disclosed that the unused funds from the previous quarter (Q3 2023) have been returned to the community pool (CP). 

The link included in the tweet suggested that the fund was 344,061,616 (344 million) LUNC tokens. 

The remaining funds from Q3 has been returned to CP:https://t.co/y2wg3oH7Ap

The L1 Classic Task Force will now enter maintenance mode for Q4 (17/10/2023 – 17/01/2023)

We will:
1. resolve Astroport situation
2. resolve chain issues
3. support PRs for gov – approved L1 logic

— 🇻🇳⚛️The Vinh Nguyen⚛️🇻🇳 (@TheVinhNguyen4) October 16, 2023

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Notably, the LUNC community had allocated funding to support the developer work of L1JTF for the third quarter. Therefore, the excess 344 million returned can also be utilized for the upcoming quarter’s ecosystem developer tasks. 

Besides, this fund has bolstered LUNC community pool holdings to 2,125,739,475 (2.12 billion) LUNC and 6,106,416 (6.1 million) Terra Classic USD (USTC). These figures are verifiable at the community tracking portal Stakebin.

L1JTF Enters Maintenance

Meanwhile, the L1JTF leader disclosed that the development team had entered maintenance mode for the year’s fourth quarter. It is a three-month period spanning from October to January 2024.

Also, Nguyen highlighted at least three undertakings the LUNC task force team will resolve for the community while on maintenance. According to Nguyen, the team will fix the bugs surrounding Astroport, a top decentralized exchange built on the Terra Classic blockchain.

Furthermore, the L1JTF leader mentioned that they will address technical chain issues alongside Astroport bugs. Moreover, the task force will support pull requests (PRs) — proposed changes to a codebase —for governance-approved L1 logic.

Amid this update, Aru Basu, a concerned community member and full-stack blockchain developer, asked Nguyen about his team’s activity roadmap. Nguyen responded that the roadmap for next year would be prepared in this fourth quarter. 

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• Source: https://thecryptobasic.com/2023/10/21/terra-classic-jtf-returns-344m-unused-funds-from-q3-2023-enters-q4-maintenance-mode/?utm_source=rss&utm_medium=rss&utm_campaign=terra-classic-jtf-returns-344m-unused-funds-from-q3-2023-enters-q4-maintenance-mode