• The Joint L1 Task Force (L1TF), Terra Luna Classic’s core developer group, is focusing on reducing the circulating supply of LUNC and USTC in the upcoming quarter.
• The team plans to prioritize upgrading Astroport’s smart contract before transitioning to Q3 roadmap.
• There are discussions within the community regarding validators’ participation in the LUNC burn campaign, with concerns raised about reduced contributions following Binance’s restoration of its LUNC burn mechanism in March.
Overview
The Joint L1 Task Force (L1TF), Terra Luna Classic’s core developer group, has issued an update on their progress and future plans for Q2. In the upcoming quarter, the developer group aims to focus on reducing the circulating supply of LUNC and USTC. Additionally, the community pool has started to refill after reaching low levels, providing some relief. However, there have been discussions within the community regarding validators‘ participation in the LUNC burn campaign with concerns raised about reduced contributions following Binance’s restoration of its LUNC burn mechanism in March.
Project Manager Update
Joint L1 Task Force project manager, LuncBurnArmy, shared a status update on Twitter outlining tasks from June 26 to July 11. The team plans to prioritize upgrading Astroport’s smart contract before transitioning to Q3 roadmap. A separate end-of-quarter update will provide a comprehensive review of completed tasks during Q2.
Ongoing Initiatives
The LITF is currently working on Burntax split to the distribution module, dApp whitelisting, contract upgrades using MigrateContractProposal and supporting Quant team for USTC repeg. Unused funds will be returned to community pool which has already started refilling and currently holds over 525 million LUNC.
Community Concerns
Some members of the community have expressed concern over reduced contribution following Binance’s restoration of its LUNC burn mechanism in March raising questions about validator participation in this campaign going forward.
Conclusion
Overall, Terra Luna Classic’s developer group is making progress towards decreasing token circulation and increasing liquidity by returning unused funds back into their community pool as well as addressing concerns about validator participation going forward.