New Terra Classic Proposal Seeks Faster Smart Contract Updates for Juris Protocol and LuncSwap.fun
A new governance proposal on Terra Classic could make it easier for two DeFi projects, Juris Protocol and LuncSwap.fun (LSF), to introduce updates, improve security, and maintain their services without waiting for a separate community vote every time new code needs to be uploaded.
The proposal requests permission for one specific wallet, controlled by Bumeo, to upload new smart contract code for both projects directly to the Terra Classic blockchain.
The wallet address submitted in the proposal is:
terra1m2u2jxsh4z9jyqj8807g6cptaea6mvu50epwt8
The request is currently seeking feedback from validators and the Terra Classic community before being submitted for an official on chain governance vote.
What Does This Proposal Mean for Terra Classic?
To understand the proposal, it is important to know that Terra Classic currently requires community governance approval before new smart contract code can be uploaded.
This restriction was introduced to give the community greater control over changes made to the blockchain and prevent unauthorized code deployments.
However, it also means that developers may need to wait for a governance process before uploading important updates, including security improvements and new features.
Bumeo believes this process could slow down the development and maintenance of protocols that need to respond quickly to technical issues.
If the proposal passes, the designated wallet will receive permission to upload smart contract updates for Juris Protocol and LuncSwap.fun without requiring a separate governance vote for every upload.
This would not give the wallet complete control over either protocol. Existing governance arrangements would remain responsible for approving major contract upgrades.
The proposal also applies exclusively to these two projects. Other developers and projects on Terra Classic would still need to follow the existing approval process unless they receive separate permission from governance.
Two DeFi Projects Covered by the Proposal
The request covers two projects operated by Bumeo, each providing different services to the Terra Classic ecosystem.
1. Juris Protocol
Juris Protocol is a decentralized finance platform on Terra Classic that provides lending, borrowing, and staking services.
Users can supply supported assets to lending pools and earn interest from borrowing activity. Borrowers can deposit assets as collateral to access loans without needing to sell their holdings.
The platform also offers a Liquidation Vault, where participants can receive a share of collateral from liquidation activities, alongside staking opportunities for JURIS token holders.
According to its official documentation, these services are already available, although certain restrictions and market limits may apply.
Juris Protocol aims to expand its services further, with stablecoins, tokenized real world assets, and payment solutions included in its roadmap.
Official website: https://jurisprotocol.com/
2. LuncSwap.fun (LSF Exchange)
LuncSwap.fun, also known as LSF Exchange, is a wallet connected decentralized exchange aggregator and DeFi platform for Terra Classic.
It allows users to access trading opportunities across its native liquidity pools and selected external decentralized exchanges through one interface.
The platform also provides tools for liquidity providers to manage their positions and gives users access to Juris Protocol’s lending and borrowing services.
By connecting different DeFi services, LSF aims to make accessing the Terra Classic ecosystem easier without requiring users to navigate multiple platforms.
Official website: https://luncswap.fun/
Why Does Bumeo Want Direct Upload Permission?
The main reason behind the proposal is to improve the speed and flexibility of development.
Both projects may require regular updates to introduce new features, fix security issues, and improve their existing services.
Under the current rules, each new code upload would require a separate governance approval process, which can take seven days.
For projects providing financial services, waiting for a full governance process before uploading an important security fix could create unnecessary delays.
Bumeo argues that allowing its designated wallet to upload code directly would help both projects respond more quickly when updates are needed.
The proposal does not establish a fixed number of uploads or a specific development schedule. Updates would be introduced whenever necessary.
Will This Give Bumeo Complete Control Over the Contracts?
No. One important detail in the proposal is that permission to upload new code does not automatically give the wallet authority to change the existing contracts.
Both projects have separate on chain management arrangements that control whether an existing contract can be upgraded.
For Juris Protocol and LuncSwap.fun, their respective management DAOs have three members with equal voting power and require approval from at least two members to authorize a contract migration.
This means the designated wallet could upload new code, but the relevant DAO would still need to approve the actual upgrade.
Furthermore, the community would retain the ability to remove the wallet’s upload permission through a future governance vote.
This distinction is important because the proposal is requesting faster development access, not unrestricted control over users’ funds or the protocols themselves.
What Happens If the Proposal Passes?
If approved by Terra Classic governance, the designated wallet controlled by Bumeo will be allowed to upload new smart contract code for Juris Protocol and LuncSwap.fun without submitting a separate governance proposal for every upload.
The permission would be limited to the two named projects and would not automatically extend to other developers or applications.
The community would also retain the ability to revoke this permission through another governance vote.
At this stage, the proposal is still requesting community feedback before moving to an official on chain vote.
What Should Terra Classic Community Members Consider?
The proposal raises an important question about balancing blockchain governance with development efficiency.
On one hand, requiring governance approval for every code upload provides additional community oversight and helps maintain control over changes made to the network.
On the other hand, projects providing active DeFi services may need to respond quickly to security issues and introduce improvements without waiting for a lengthy approval process.
Allowing trusted project wallets to upload code directly, while keeping actual contract upgrades under DAO control and maintaining the community’s ability to revoke permissions, could offer a middle ground.
The final decision will depend on how validators and the wider Terra Classic community evaluate the benefits and potential risks of this arrangement.
For now, the proposal is open for discussion, with an official governance vote expected to determine whether Juris Protocol and LuncSwap.fun will receive the requested permission.
