Terra Luna Classic’s Proposed Community-Owned Wallet: L2 Support Team and Potential Conflicts

Posted on by Artificial Intelligence
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The Terra Luna Classic developer community has recently submitted a proposal to create a community-owned wallet managed through their governance system. This move aims to establish an L2 team that would be responsible for managing this wallet, working side by side with the Joint L1 Task Force (L1TF).

Terra Luna Classic currently utilizes L2 wallet dApp providers, such as TFL (Station), Keplr, Trust Wallet, and others. Despite having forked versions of the Station wallet, none are owned by the community itself. The proposed community-owned wallet would include a web version of Station, iOS and Android mobile apps, and a Chrome browser extension. Moreover, its development is expected to enhance the Station codebase, improve client wallet diversity, and reduce the burden on TFL for testing L1 upgrades and maintenance after each Terra Luna Classic upgrade.

To manage the community-owned wallet, L1TF plans to establish an independent L2 support team. This team would be responsible for ensuring upgrades, reducing end-user downtime, and providing regular maintenance. In Q3, the Joint L1 Task Force will develop the wallet free of charge, with costs related to domain registration and hosting to be covered by their compute budget. However, a separate monthly budget not exceeding $3k is needed to manage, maintain, and upgrade the wallet.

As a response to this proposal, some community members have highlighted the fact that a community-managed wallet, Rebel Station, had already been paid for. Furthermore, Terra Rebels, the former core developer group of Terra Luna Classic, insists that TFL will never provide direct access to Station infrastructure, which is why they had to create a separate infrastructure.

Critics of the proposal argue that before any further plans are realized, the L1TF should address post-parity impacts on dApps and projects. There is also a debate whether an L2 team should volunteer to maintain Finder, Station, terra.js, and rust bindings or if the current L1TF must handle it.

The outcome of the proposal remains uncertain as the presented content is subject to market conditions. Readers are advised to do their own market research before investing in cryptocurrencies. Neither the author nor the publication holds any responsibility for personal financial loss.

Source: Coingape

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