Terra Grants Foundation Submits Proposal For 750M LUNC Allocation

Terra Grants Foundation Submits Proposal For 750M LUNC Allocation
  • A proposal has been made to reserve 750M LUNC tokens from the community pool.
  • There is still time to vote in this community poll; one has until Tuesday.

The initial proposal, number 10946, was submitted by Terra Grants Foundation (TGF) programme director and Professor Edward Kim. This proposal is to reserve 750M LUNC tokens for developers, projects, validators, and community members that make significant contributions to the Terra Classic resurrection between the months of May and October.

Edward Kim is a vital cog in the wheel that has brought the Terra Classic blockchain back to life after the Terra-LUNA turmoil in May. The LUNC 0.2% Tax Burn, Terra Classic Revival Roadmap, Terra Rebels, and the Terra Grants Program are among programmes he has backed.

Proposal Voting Underway

The Terra Grants Foundation is supported by the community. Has put out “Proposal 10946: Signaling Proposal for the Terra Classic Recovery Acknowledgement Opportunity” for consideration. To honor businesses and people for their commitment to the blockchain from May 27th through October 27th. A proposal has been made to reserve 750M LUNC tokens from the community pool.

If the vote is positive, TGF will begin accepting applications, recruiting impartial evaluators, and proposing how the 750M should be allocated. A “No” vote, however, indicates that the voter is opposed to the proposal. So far, almost all voters have said yes to this proposition. There is still time to vote in this community poll; one has until Tuesday.

Edward Kim promises to follow the procedure and share all reports and suggestions with the group. A governance plan outlining how the monies would be dispersed after the evaluations are complete. In reality, the community has the option to reject the distribution of monies at any point in time.

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