Empowering the Terra Luna Classic Community: Introducing a Community-Owned Station Wallet and the Return of Terra Rebels

Bombolo | News and Media

Are you ready for an exciting development in the world of Terra Luna Classic? The Joint L1 Task Force (L1TF) has recently submitted a groundbreaking proposal to establish a community-owned wallet managed by the Terra Luna Classic community through governance. This initiative aims to enhance wallet diversity, improve the client experience, and alleviate the burden on TFL (Terraform Labs) for testing and maintenance after each upgrade. Let's delve into the details of this exciting proposal!

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Introduction: The Need for a Community-Owned Wallet

Terra Luna Classic, a prominent blockchain platform, recognizes the importance of empowering its community members and ensuring their active involvement. Currently, L2 wallet dApp providers such as TFL (Station), Keplr, and Trust Wallet exist, but none are owned collectively by the community. To address this gap, the Joint L1 Task Force proposes the creation of a community-owned wallet, fostering inclusivity and shared ownership.

The Scope of the Community-Owned Wallet

The proposal outlines an extensive plan for the community-owned wallet, encompassing various platforms and functionalities. The goal is to develop a web version of Station, along with dedicated iOS and Android mobile apps, and a convenient Chrome browser extension. By offering these options, Terra Luna Classic aims to cater to a wide range of users and provide a seamless experience across different devices and platforms.

Benefits and Impact

Implementing the community-owned wallet brings several advantages to the Terra Luna Classic ecosystem. First and foremost, it enhances client wallet diversity, giving users more options to choose from based on their preferences and requirements. Additionally, the Station codebase enhancements resulting from this initiative will contribute to a more robust and reliable wallet infrastructure. Furthermore, by sharing the responsibility of testing L1 upgrades and maintaining the Station after each Terra Luna Classic upgrade, the community-owned wallet will significantly ease the burden on TFL.

The Role of the L2 Team

To ensure efficient management and continuous improvement of the community-owned wallet, the proposal suggests the establishment of an independent L2 team. This team will be responsible for maintaining the wallet, handling upgrades, reducing end-user downtime, and performing regular maintenance tasks. By having a dedicated team focused on the community-owned wallet, Terra Luna Classic aims to provide a seamless user experience and ensure that the wallet remains up-to-date with the latest advancements in the blockchain industry.

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Development Timeline and Budget

The Joint L1 Task Force plans to develop the community-owned wallet free of charge during Q3. The necessary funds for domain registration and hosting can be allocated from the Joint L1 Task Force's compute budget, eliminating the need for a separate community spend proposal. However, to ensure the effective management, maintenance, and future upgrades of the wallet, a separate monthly budget of up to $3,000 is required.

Community Decision and Next Steps

If the proposal receives a positive vote from the community, the L1TF will proceed with forking and providing a fully functional community-owned wallet to the L2 team. In this scenario, a separate community spend proposal will be prepared, listing the team members and their roles. However, it is important to note that if the community votes against the proposal, the L1TF will respect their decision and not proceed with creating a community-owned Station wallet.

The Joint L1 Task Force's proposal to establish a community-owned wallet and L2 team marks an exciting milestone in the development of Terra Luna Classic. This initiative aims to empower the community, enhance wallet diversity, and share the responsibilities of testing and maintaining the Station wallet. By actively involving the community in the decision-making process, Terra Luna Classic demonstrates its commitment to fostering inclusivity and collaboration.

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FAQs:

1. What is the purpose of the community-owned wallet in Terra Luna Classic?

The community-owned wallet aims to provide users with a diverse range of options and foster shared ownership within the Terra Luna Classic ecosystem.

2. Who will manage the community-owned wallet?

The community-owned wallet will be managed by an independent L2 team, working closely with the L1TF and the Terra Luna Classic community.

3. What platforms will be supported by the community-owned wallet?

The community-owned wallet will include a web version of Station, iOS and Android mobile apps, and a Chrome browser extension.

4. Will the community-owned wallet be free to use?

Yes, the development of the community-owned wallet will be free of charge. However, a separate monthly budget will be required for its management, maintenance, and future upgrades.

5. What happens if the community votes against the proposal?

If the community votes "No" on the proposal, the L1TF will respect their decision and not proceed with creating a community-owned Station wallet.