Neblio to Launch Mobile Wallet With LUNC Staking Functionality

Neblio to Launch Mobile Wallet With LUNC Staking Functionality

Altcoins

The wallet will enable users to stake and earn rewards in Terra Classic (LUNC).

Neblio, a leading enterprise blockchain solutions firm, will be launching a new mobile wallet with a built-in Terra Classic (LUNC) staking functionality. The wallet will also feature a cross-chain staking mechanism between LUNC and NEBL, Neblio’s native token.

The development was recently highlighted by the Terra Rebels group via their official Twitter handle. “We have something great to share with you! Neblio team has been preparing some exciting news for you guys. Their team is developing a new mobile wallet for Neblio with a staking option,” the group disclosed in a tweet Wednesday.

An announcement for the #LUNC community from #terrarebels and #neblio pic.twitter.com/3nS2EDrWso

— Terra Rebels (@TerraRebels) January 18, 2023

They further revealed that the forthcoming mobile wallet will give users an opportunity to leverage a cross-staking campaign introduced by Neblio. Notably, through this campaign, users can stake NEBL to earn LUNC, and also stake LUNC to earn NEBL. A visual representation of the UI of the wallet was shared with the LUNC community.

As a blockchain platform that facilitates the easy building and deployment of decentralized applications for enterprises and developers, Neblio has gained popularity among LUNC supporters, particularly through a partnership with Terra Rebels last October.

Terra Rebels’ Involvement Sparks Disinterest

Despite the promising nature of the latest development, most community members have not received the news well, due to Terra Rebels’ involvement. The comment section is littered with remarks from proponents showing disinterest in the wallet as well as those reminding the Terra Rebels group of the $150K community funds they allegedly misappropriated.

As TheCryptoBasic reports surfaced last month, accusing the group of misappropriating $150K worth of LUNC that they requested from the community through a proposal. Autonomous validator LUNC DAO noted that the alleged scam could cause Binance to cease support for LUNC.

On December 25, PSX_TX, an anonymous developer and former TR member, hijacked the official Terra Rebels Twitter account to expose some internal issues within the group, noting that the group is at risk of litigation due to how the $150K was appropriated among other alleged offenses. Before these claims gained ground, Zaradar, a prominent LUNC developer, left the TR group, citing structural cracks.

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