A proposal that was designed to help bring back projects to Terra Classic has made it way to the public. The proposal intends to fast-track the re-enablement of IBCs between Terra Classic and Osmosis, Juno, and Crescent.
Terra Classic About To Reopen Key IBC Channels
The Terra crash could be said to have come unexpectedly. The price of $LUNC has remained at an all-time low since the crash, but it now appears that efforts are being harnessed to try to get things back into place.
Edward Kim, the top developer at Terra, has made public a proposal that will help in gradually building things back up, at least in theory.
The foolproof plan, according to Kim, is to re-enable the main IBC channels. These channels are between Terra and Osmosis, Juno and Crescent.
Already notional labs, osmosis, and Terra have commenced working on the plan. And as such, work will start immediately on an L1/L2 chain refresh in order to kick-start the IBC very soon.
The proposal, which is subject to the approval of the whole community of developers, intends to keep the IBM channels and the v23 software upgrade distinct from each other in order to ease the general scheme of things.
Also read:Since the proposal made its way to the public, it has already started to enjoy overwhelming popularity and support among the members of the Terra community; however, the decision is still subject to the governance vote by the developers.
Should the proposal be accepted, there are already predictions that it will help turn around the current deplorable situation and particularly help make the $LUNC price rise again.
Are Things Looking Up For Terra Classic?
Since the crash and the number of eventful occurrences afterwards like the disappearance of Do Kwon and the trial of Daniel Shin (Shin Hyun-Seong), it may appear that things might eventually change for Terra Classic, however little.
Fingers are crossed, especially as community members have sort of adopted the idea of the proposal, leaving the next step to be approved by the appropriate quarters.
While this might be a tiny bit of good development, it is still quite early to determine whether Terra Classic will survive the storm.
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