The Terra Luna Classic (LUNC) community is considering the creation of a core team to manage the chain's development and decision-making processes. Following the dissolution of the Joint L1 Task Force (JL1TF) in March, a proposal has been put forward to establish a community-selected team consisting of key contributors and developers.

The Proposal: "Establish a Terra Classic Team"

The proposal, titled "Establish a Terra Classic Team," is currently being voted on through the Station wallet for the Terra Luna Classic community. The proposal seeks the community's approval to establish a permanent team that would be compensated monthly from the community pool.

The proposed team would directly support the Terra Classic blockchain, similar to Terraform Labs' role in supporting Terra (LUNA). The team's roles, salaries, responsibilities, and the number of developers would be determined in a follow-up proposal, subject to governance approval.

Community Discussion and Decision-Making

The Terra Luna Classic community and validators will discuss and determine the team's requirements, roles, and responsibilities on the Commonwealth platform. If the proposal is rejected, the community will review the requirements, roles, and responsibilities until a positive vote and approval are achieved for the next phase of the process.

Once the roles and responsibilities have been approved by governance, the community and validators will be engaged on Commonwealth to propose developers for the positions created.

Mixed Reactions from the Community

The proposal has received 82% votes in favor, with five "Yes" validator votes and six "No" validator votes. However, some community members have expressed concerns about centralization risks, conflicts with pay-per-job, and the lack of mention of developer KYC requirements.

Price Performance of LUNC and USTC

The LUNC price has increased by 1% in the last 24 hours, currently trading at $0.0001301. However, the trading volume has decreased by 23% in the same period, indicating low interest from traders.

LUNC futures open interest has risen by over 5% in the last 24 hours, and 1000LUNC futures OI on Binance and Bybit have jumped by 2%, indicating a potential rebound expected by traders.

Meanwhile, the USTC price has traded mostly sideways in the past week, currently trading at $0.0250. The 24-hour low and high are $0.0245 and $0.0252, respectively.