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Juris Protocol founder issued an open letter: LUNC must be built or die

2026-09-03 00:31:03
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Severe warning to the Terra Classic community

Juris Protocol founder Puya has issued an open letter to the Terra Classic community, sending a straightforward message: $LUNC must be committed to real development or risk running out of what little goodwill and capital is left. This letter shows no mercy. "The network cannot recover from political battles, noise and waiting for Binance or other institutions," Puya wrote. He sees external dependence as one of the community's most self-destructive habits.

The background is well known. In May 2022, Terra's algorithmic stablecoin TerraUSD (UST) lost its peg to the U.S. dollar, triggering a death spiral that expanded the supply of LUNA from millions to trillions and wiped out tens of billions of dollars worth. The ecosystem performed a hard fork to create Terra 2.0. The original chain was renamed Terra Classic, and its token was renamed Luna Classic (LUNC), abandoned by the original developers and left it entirely to the community.

Puya cited Lee Kuan Yew as an example and pointed out that community surplus capital must be invested in infrastructure construction in a targeted manner: lending platforms, liquidity pools, cross-chain bridges, developer tools, and a self-sustaining chain economy. This message is not so much about hope as about execution.

Project Flywheel turns to L1 irrelevant, Juris continues to advance

The letter also contained a structured announcement. Project Flywheel, previously closely associated with Terra Classic, will become L1 independent and an optional component in the broader Juris Protocol ecosystem. This move shows that @JurisProtocol is being laid out for a broader business scope, regardless of whether the LUNC community supports it. [TAG

Juris Protocol is a decentralized lending platform built directly on the Terra Classic blockchain and designed to bring back Anchor-like functionality while incorporating modern improvements, security enhancements and a better user experience. The agreement is working to rebuild the Terra Classic DeFi ecosystem, provide an institutional lending market, and is developing the IBC Bridge to enable cross-chain liquidity flows with the broader Cosmos ecosystem.

Despite limited community support, Puya confirmed that the lending platform will continue to be built. The community's broader focus in 2026 is to rebuild basic practicality, with key initiatives including Market Module 2.0, proposals to restore USTC stablecoins, and native protocols such as the Juris Protocol to drive moderate growth in on-chain activity and total locked value (TVL).

The tone of the letter is thoughtful: If recovery comes, it will be the result of those who are implementing it, not those who are waiting. For a chain that has struggled with internal politics and broken commitments for years, Puya's letter is both a dividing line and a rallying call.

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