Major Proposal for Terra (LUNA) Receives Community Approval
Terraform Labs (TFL), the cryptocurrency development team behind Terra (LUNA), announced that Proposal 4790 was successfully passed with great community support. The proposal outlines plans to strengthen Terra’s economy by leveraging TFL’s resources and expertise.
According to TFL’s statement, it has begun evaluating opportunities to leverage non-LUNA capital in collaboration with community partners to support ecosystem growth. The company will cover 50% of the fees charged by Terra apps through January 2025, allowing ecosystem teams to earn 75% of the fees they earn on-chain.
Terraform Labs CEO Chris AMANI recalled the challenges Terra’s founders faced due to the collapse of UST. Amani said Terra’s success should also depend on founders staying with Terra and developing useful products. Amani also emphasized the need for aggressive investment to create products that will be useful and interesting to the community and stay ahead of the competition.
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