TechFlow news: Terra stated that as Terraform Labs (TFL) begins winding down its operations, proposal 4818 will be the last chain upgrade they implement. Due to the settlement agreement between TFL and the U.S. Securities and Exchange Commission (SEC), as well as the implementation of its proposed Chapter 11 bankruptcy plan, TFL will no longer have the capacity to support future chain upgrades.
Terra indicated that it will seek community-driven initiatives, such as the Phoenix Directive, to take over the maintenance and operational responsibilities of the Terra blockchain in the future.
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