The team behind Terra Luna Classic is getting ready for a core upgrade called v2.2.0. People are wondering if this could help LUNC’s price bounce back.
The team behind Terra Luna Classic, known as L1 Terra Classic Task Force (L1TF), has given an update on their plan to decrease the supply of USTC and LUNC in Q3. They’re also getting ready for a significant core upgrade called v2.2.0. This upgrade aims to enhance the Terra Luna Classic blockchain, fix problems, and ensure stability.
On August 9, Vinh Nguyen, the lead developer of L1 Terra Classic Task Force (L1TF), shared a report on sprint #1 and revealed preparations for the significant core upgrade v2.2.0. A former LITF member known as “Frag” expressed gratitude to Vinh Nguyen for providing a written update about the progress and future plans for the Terra Luna Classic blockchain.
Listen to the wish of our #LUNC community members, here is L1 Terra Classic Task Force sprint #1 report:https://t.co/5uopmw5TMy
We are preparing for major core V2.2.0 upgrade which will include cosmos – sdk v46 as cosmos – sdk v45 is no longer supported by foundation.
— 🇻🇳⚛️The Vinh Nguyen⚛️🇻🇳 (@TheVinhNguyen4) August 9, 2023
As per the report shared on the Commonwealth forum, the sprint has now become open source. This allows the community to track real-time updates on tasks and additional work accomplished by the developer team.
In recent days, the L1TF team focused on implementing changes based on community-approved proposals, resolving issues faced by DApps, and maintaining the chain.
For Sprint #2, L1TF is getting ready for the v2.2.0 upgrade, involving Cosmos SDK v46, CometBFT migration, and IBC – go v6. The aim is to tackle various chain-related issues and ensure stability. The upgrade also includes proposals for logic above layer 1 and fixes for the smart contract module (wasmd).
Following the departure of LuncBurnArmy and Frag from L1TF, Vinh, Inon Man, Xi, and Gevik are now handling tasks. The community has acknowledged the dedication of these developers in revitalizing LUNC and USTC.
LUNC and USTC Prices Still Reaching Support Levels
LUNC’s price has declined to support levels because of limited momentum and group activity, as developers concentrate on USTC repeg. Additionally, the community has approved two proposals to burn 800 million USTC associated with the Ozone protocol.
LUNC’s price recently fell to $0.000075, representing almost 1% drop in the last 24 hours. Currently, it’s trading at $0.000078. The price ranged between $0.0000758 and $0.0000787 in the past 24 hours.
Meanwhile, USTC’s price stands at $0.015, having decreased nearly 1% in the last 24 hours. This follows a 31% rise in a month, linked to USTC repeg efforts. The trading volume has also gone down by 33% in the last 24 hours.
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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