The Terra Grants Foundation (TGF) Submits Proposal 10946 for the Terra Classic Recovery

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Last Updated on November 23, 2022 by Bitfinsider

Proposal 10946, written by Professor Edward Kim, program director of Terra Grants Foundation (TGF), is the inaugural project. The plan calls for allocating 750 million LUNC tokens to projects, validators, community members, and developers in exchange for their support of the Terra Classic rebirth from May to October.

The core team that resurrected the Terra Classic blockchain following the Terra-LUNA dispute in May is led by Edward Kim. He is the driving force behind programs like the Terra Grants Program, Terra Rebels, Terra Classic Revival Roadmap, and LUNC 0.2% Tax Burn.

“Proposal 10946: Signaling Proposal for the Terra Classic Recovery Acknowledgement Opportunity” has been put up for voting by the neighborhood-supported Terra Grants Foundation. 750 million LUNC tokens will be set aside from the community pool as part of a signaling plan to thank businesses and individuals for their contributions to the blockchain from May to October 27.

In the event that “Yes” is chosen, TGF will begin gathering applications, locating impartial reviewers, and offering a suggested allocation of the 750M. Voting “No” defeats the initiative, nonetheless. 99% of the time up to this point, people have voted in favor of the idea. The voting period is still six days away.

Edward Kim promises to present the community with all supporting evidence and suggestions in accordance with the law. A governance proposal for the actual distribution of the cash will come after the reviews. In fact, the community may reject the distribution of monies at any time.

Price Recovery for Terra Classic (LUNC) Amid Market Recovery

The price of Terra Classic has increased by almost 13% in the past day due to the market’s overall rebound. However, as traders booked their profits, the price of LUNC fell once more.

The LUNC price is $0.000159 at the time of writing, up 6%. The trading volume is up nearly 40%.

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