As Terraform Labs (TFL) begins to wind down operations, Proposition 4818 will be the last chain upgrade they implement, Terra said. Under TFL's settlement agreement with the Securities 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 that in the future, it will seek community-driven initiatives such as Phoenix Directive to take over responsibility for the maintenance and operation of the Terra blockchain.