Terra Classic Developers Squabble Over Millions In Off-Chain Assets
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Terra Classic developers are at loggerheads when disagreements arise over how the community should handle off-chain assets.
Members of the independent Terra Classic development teams slammed each other on Twitter yesterday as discussions about the management of the newly discovered millions of off-chain funds heated up.
It comes when an unknown community member under the alias Rabbi Jebediah Aaron-David Shekelstein did administration proposal which allocates more than 40% of the fund to Terra Rebels. In addition, the proposal also seeks to exclude former Terra Rebels quantitative analyst Alex Forshaw from the incoming administration in exchange for a 1% finder’s fee.
In response to a suggestion by Rex Harrison, aka Rexzy of TerraCVita, argued that he would vote against the administration’s proposal, describing it as “racist, elitist and exclusive”. Furthermore, he agreed with Forshaw’s view that although the proposal was intended to compensate the rebels for their previous work, many of the key contributors were no longer part of the group.
That’s a no-no for me.
It is racist, elitist and exclusive.
Banishing a community member is disturbing. How can a group say they are community oriented and exclude community members.
– Rexyz (@RexYellerBelly) November 23, 2022
Rexzy’s comments were particularly attractive strong criticism from senior Terra Rebels member Vegas. Terra Rebel insisted that the Rebels had nothing to do with the proposal and told a TerraCVita member to keep the Rebels out of it.
Can you please stop linking anything you don’t like to TR. it’s kind of sad.
– Vegas (@VegasMorph) November 24, 2022
The conversation turned into a war of words between Rexzy, Vegas, Forshaw and Tobias Andersen, AKA Zaradar, culminating in Zaradar accusatory Rexzy for having a tendency to steal people’s work.
It is currently unclear where the community stands on the controversial proposal. However, community influencer Classy has assured that his constituents will vote against it, saying“You can’t exclude people from the administration of LUNC.”
It is worth mentioning that the handling of off-chain assets has been the subject of several discussions discussions in this month. While Forshaw, who discovered the wallet during his interaction with Terraform Labs, Do Kwon believes that the community should keep some of it in a multisig wallet to fund development, Vegas thinks the network should send it to the community pool.
While the value of off-chain assets was originally around $4 million, it is now only worth around $2.5 million per Etherscan. informationwhen crypto prices fell following contagion fears caused by the FTX collapse.
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