New proposal outlining new ecosystem expansion program is out
Following Terra Ecosystem Falling in May, the community made several proposals to protect it – one of which resulted in the creation of a new chain referred to as Terra (LUNA), while the old Terra chain was rebranded as Terra Classic, with LUNC And there were USTC tokens. Terra 2.0 debuted five months ago, yet the new Terra series is still having trouble engaging users and projects on its network.
As shared on the Terra LUNA Twitter handle, a new proposal outlining a new ecosystem expansion program — The Terra Expedition — is up for a vote.
The Terra campaign, as described by the team, will be a four-year program with three primary objectives: encouraging developers to build on Terra, deepening liquidity on Terra, and engaging users in Terra.
This program will be funded with 9.5% of the total LUNA supply that was earmarked at the launch of the new Terra chain. This incentive program will run for four years and will be managed by a community-elected committee that will be evaluated every 12 months.
The Terra campaign will be made up of the following four programs: the Developer Grant Program, the Developer Mining Program, the Liquidity Mining Incentive Program – which will deliver 50 million LUNA over four years – and the User Incentive Program, which aims to increase end-user adoption and 5G on Terra. Million Luna is expected to be delivered.
Will this suffice?
The new Terra Project has a long road ahead of it with respect to the legal issues of Terra founder Do Kwon. Terra needs to rebuild trust. As reported by U.Today, Do Kwon’s passport faces expiry on Oct. 19 as he already has an Interpol red notice.
In an interview with the Unchained podcast, Terra’s producer, Do Kwon, said he is not on the run and that the allegations against him by South Korean authorities are “politically motivated”. But he was adamant that he had not left Singapore, although he did not specify where he was now.
