Binance is helping with an important upgrade for Terra Classic (LUNC) to version 2.2.1. They are doing this because the TerraClassicUSD (USTC) community wants to make USTC worth $1, which is a big goal.
Binance made an announcement today saying they’re helping with the upgrade of Terra Classic (LUNC). This upgrade will happen when the blockchain reaches a specific point, called block height 14,514,000, at around 2:15 PM (UTC) today.
While they’re doing this upgrade, Binance will stop people from putting money in or taking it out of the Terra Classic network starting at 1:15 PM (UTC) today.
But don’t worry, this won’t stop people from trading tokens on the Terra Classic (LUNC) network. That will keep going as usual.
Binance wants users to know they’ll take care of all the technical stuff to make this upgrade go smoothly. Once everything is working well with the upgraded network, they’ll let people deposit and withdraw money from Terra Classic again without needing to tell them again.
This upgrade is happening because lots of people in the community wanted it. Someone suggested it on September 4, and many people agreed.
The person in charge of the project, Vinh, explained the upgrade in a note on August 29. It’s a big upgrade that will make things better. They’re improving a bunch of important things like the Cosmos SDK, tendermint, and something called the Inter-Blockchain Communication (IBC) protocol. They’re also changing how taxes work and adding support for something called WASM stargate to help with contract stuff on Terra Classic.
They’re also making the Terra Classic code better by doing things like using a new way to manage changes, adding something called Mergify, and making sure the tokens can move safely.
USTC Quant Team Persists
The USTC Quant Team is working hard to find ways to make sure USTC stays equal to the dollar. They are doing this because of the recent LUNC upgrades.
One member of the LUNC community, named Alex, suggested an idea called a “reverse split” as a way to make sure USTC stays the same as a dollar. This shows how the Terra Classic (LUNC) community is always thinking of new and smart ideas.
The Quant Team keeps looking at different ways to make sure USTC is equal to a dollar. That’s their main goal.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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