According to TechFlow, Terra said that as Terraform Labs (TFL) begins to gradually end operations, Proposal 4818 will be the last chain upgrade they implement.
Pursuant to TFL’s settlement agreement with 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 said it will seek community-driven initiatives such as the Phoenix Directive to take over responsibility for the maintenance and operation of the Terra blockchain in the future.
