Six Samurai Team of Terra Allies Aims to Revive Ecosystem

The Six Samurai’s Q3 Spend Proposal

Following the joint governance proposal on liquid staking derivatives in Terra Luna Classic (LUNC), a new proposal has been presented for the upcoming quarter, proposing the establishment of a specialized team of six senior full-stack engineers.

The Six Samurai, the senior engineering full stack team of the Terra Allies, have unveiled their Q3 spend proposal, showing their strong dedication as LUNC holders. They have vowed to put their efforts and knowledge to use in order to bring about “a true revival of the ecosystem.”

Terra is a blockchain protocol designed to facilitate global payments through the use of fiat-backed stablecoins. Combining the widespread acceptance of fiat currencies with the censorship-resistant nature of Bitcoin (BTC), Terra offers rapid transactions at an affordable cost.

In May 2022, the first block of the new blockchain was initiated to facilitate future transactions under the name Terra (LUNA), and the original Terra Chain was renamed Terra Classic.

Presenting a comprehensive plan for the third quarter of 2023, the group has suggested an expenditure of $116,000. Their Level 1 roadmap contains essential objectives such as transitioning from Columbus-5 to Columbus-6 and advancing to the most recent Cosmos SDK.

In addition, their plan includes seeking to have Terra Classic listed on Keplr’s Web Interface, a web application for data analysis and visualization, as well as Mintscan, a Cosmos blockchain explorer that caters to crypto exchanges and users.

Terra Classic’s Recent Performance

The SEC has opposed Dentons’ request to dismiss the lawsuit brought by Terraform and Do Kwon.

In their proposal, the team demonstrated their commitment to take the necessary steps to bring about a real revival of the ecosystem. Furthermore, they highlighted their eagerness to work together and coordinate with other teams that are given the task of building LUNC. As a result, the LUNC community has responded positively, tending to vote in favor of the proposal.

According to CoinMarketCap, Terra Classic has seen a dip of 1.65% in the last 24 hours, which places it at the 75th spot with a live market cap of $537,523,209 USD. The circulating supply of LUNC coins is 5,822,833,985,154, with no stated maximum supply.

Sunny Aggarwal of Osmosis Labs remarked that “Terra had a very strong impact on us”.