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What does establishing a new station by Terra Rebels mean for LUNC price?

The LUNC community Terra Rebels Station is now operational as an alternative to the recently revealed Station wallet software.

Photo by Jorge Gardner / Unsplash

The LUNC community Terra Rebels Station (1) is now operational as an alternative to the recently revealed Station wallet software after the announcement by Terra Rebels of a plan to split from the blockchain corporation Terraform Labs (TFL) and its creator and CEO Do Kwon.

The rise of the rebels

The community has built a new station after LUNC DAO revealed the end of the Station wallet support for Terra Classic (LUNC) (2) as part of the Terra ecosystem resuscitation plan and urged Terra Rebels developers to make improvements for the support to continue. Notably, one of the Terra Rebels developers, VegasMorph, introduced the fully functional Terra Rebels Station app on Twitter. On December 7, supporters of the station and rebel members.

TFL stops supporting Terra Station for LUNC

Six months ago, Terraform Labs began developing Interchain Station, a new wallet application, with a vision of delivering free support for all Cosmos chains, as LUNC DAO said on December 6.

Terra Classic climbs more than 10% despite the cryptocurrency market suffering significant losses. The DAO said that because wallets, in general, do not store your LUNC  but rather are "simply a mechanism to communicate with the blockchain," users' "LUNC lives on the LUNC Columbus 5 chain, not in Terra Station or any other wallet," according to the statement.

Furthermore, according to LUNC DAO, "if additional Cosmos chains wish to opt-in to LUNC is not compatible with the new Station wallet until TR makes these updates, the statement said, adding that "making these adjustments to receive support" was "completely voluntary for TR / the LUNC Community." The current Terra Station, XDefi, Trust wallet, Rebel Station, and so forth will all continue to support LUNC, the DAO contended.

Moving away from TFL

Despite this, Terra Rebels stated in its community pool spending plan that the community will relocate to Rebel Station (3) when Terra Station stops supporting LUNC by December 14 and that LUNC was incompatible with the new Station "without considerable and expensive L1 development work." (4) As stated in the proposal: We estimate that this repair will cost $150,000 and take two months to complete. The Terra Classic Revival Roadmap, which previously expressed the community's intention to break from the TFL infrastructure and CEO Do Kwon, has also been merged into Terra Rebels.

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The announcement of the Terra Rebels Station launch hasn't yet resulted in any notable changes in the price of LUNC. However, the token has registered a gradual rebound over the last several hours. In particular, Terra Classic's LUNC token is now trading at $0.0001653, a decrease of 4.27% from the previous day but an increase of 2.28% from the preceding seven days as it attempts to recover.