Terra: Proposal 4818 will be the last chain upgrade implemented by TFL, and future upgrades will be community-led

ChainCatcher message, Terra stated that as Terraform Labs (TFL) begins to gradually wind down operations, proposal 4818 will be the last chain upgrade they implement. According to the settlement agreement reached between TFL and the U.S. Securities and Exchange Commission (SEC) and the implementation of its proposed Chapter 11 bankruptcy plan, TFL will no longer be able to support future chain upgrades.

Terra indicated that in the future, it will seek community-driven initiatives, such as the Phoenix Directive, to take over the maintenance and operational responsibilities of the Terra blockchain.