Terra Announces Final Chain Upgrade Amid TFL's Operational Wind-Down

According to Odaily, Terra has announced on Platform X that Proposal 4818 will be the final chain upgrade implemented by Terraform Labs (TFL) as the company begins to wind down its operations. This decision follows the settlement agreement between TFL and the U.S. Securities and Exchange Commission (SEC) and the implementation of TFL's proposed Chapter 11 bankruptcy plan. As a result, TFL will no longer have the capacity to support future chain upgrades. Terra has indicated that it will seek community-driven initiatives, such as the Phoenix Directive, to take over the maintenance and operational responsibilities of the Terra blockchain moving forward.