A landmark moment has occurred again in the crypto world. On January 16, 2025, Terraform Labs will officially withdraw completely from the LUNC and USTC ecosystems. This is not just a personnel change but a fundamental shift in the power structure of Terra Classic—the decision-making authority of the entire ecosystem will be fully transferred to the community.

How significant is this change? Looking back at the shocking LUNA disaster in 2022 makes it clear. At that time, the algorithmic stablecoin UST suddenly lost its peg, and LUNA plummeted from over $100 to nearly zero. Many investors lost everything, and the event was dubbed the "Lehman moment of the crypto market." Most people believed that the Terra project was doomed and had no chance of recovery.

However, surprisingly, a group of loyal community members chose not to give up. Without official funding or backing from large corporations, they managed to keep the Terra Classic chain alive and created a new ecosystem token, LUNC. Over these three years, community members have revitalized a chain that was considered dead through spontaneous organization, voting governance, and ecosystem development.

The official exit of Terraform Labs on January 16 can be seen as the final institutional confirmation of this "community self-rescue movement." From now on, there will be no more corporate-level decision-making, no official executives wielding authority. Every major decision in the ecosystem will be made through community voting. This is indeed a form of "decentralized endgame"—not just an ideal in a white paper, but a real transfer of power happening in reality.

However, community control also brings new challenges. Pure enthusiasm and slogans are not enough. True community governance needs to be built on a clear institutional framework, full transparency of information, and broad participation. Whether the LUNC community can continue to maintain ecosystem vitality and the correct development direction without official guidance is a key issue to watch.

From a market perspective, this transition is also worth noting. Can community-driven governance truly stimulate innovation within the ecosystem? Can it attract more developers and users to join the Terra Classic ecosystem? The answers to these questions could influence LUNC’s long-term performance in the entire crypto market.

Overall, Terraform Labs’ exit marks a new phase for Terra Classic. From centralized project management to community-driven governance, this is not only a transfer of power but also an experiment in the governance model of crypto ecosystems. The success or failure of this experiment will have implications for the entire Web3 ecosystem.