The Terra Luna Classic community recently approved the v2.4.2 upgrade, leading to a slight jump in the price of LUNC. This increase coincided with the listing of new spot and futures trading pairs for the cryptocurrency.
The Terra Luna Classic community has given the green light for a significant chain upgrade, with the unanimous approval of the proposal. This upgrade, known as Terra Classic v2.4.2, will introduce IBC-Hooks, paving the way for the integration of decentralized applications (dApps) on the Terra Luna Classic network. One notable addition will be the Enterprise DAO, a move expected to enhance the platform’s functionality and utility.
Terra Luna Classic Community Approves Upgrade v2.4.2
The software upgrade proposal “Upgrade v2.4.2” has successfully surpassed the pass threshold, garnering substantial support from Terra Luna Classic validators and the community. This proposal entails updating the terrad client to v2.4.2, also known as upgrade name v7. The scheduled halt of the Terra Luna Classic chain is set to occur at block height 17309000, expected at 16:00 UTC on March 25, according to StakeBin data.
The proposal received unanimous approval, with 100% “Yes” votes from LUNC holders and validators alike. Key validators, including Allnodes, Orion, Interstellar Lounge, Stakely, and HappCattyCrypto, voted in favor of the proposal, underscoring its significance.
Following community discussions, several changes have been implemented. Each proposal undergoes a week-long discussion period before voting. The major changes include the removal of the package-forward-middleware (PFM) from the mainnet release and the addition of a minimum initial deposit requirement.
Terra Luna Classic to Implement Key Upgrades
The upcoming Terra Classic upgrade will introduce several significant developments, aimed at enhancing the platform’s functionality and security:
Introduction of IBC-Hooks and the E2E and Interchain Testing Suite by Genuine Labs and Fragwuerdig, respectively.
A fix regarding the processing of MsgExec in Tax Ante Handler, also contributed by Fragwuerdig.
Additionally, Genuine Labs has proposed a major security upgrade, which has been approved by the Terra Luna Classic community. This proposal includes updating key components to Cosmos SDK 0.47.10, IBC go v7, and Wasmd 0.45.0, ensuring the platform’s security and stability.
WEEX Lists LUNC Spot and Futures Pairs
Singapore-based crypto futures trading platform WEEX has announced the listing of LUNC spot and futures pairs, providing users with more trading options. Starting March 11, users can trade LUNC/USDT futures and LUNC/USDT spot on the platform.
Following the listing announcement, the price of Terra Luna Classic (LUNC) experienced a modest 1% increase in the past 24 hours and a 4% increase over the week. Currently trading at $0.000190, LUNC’s 24-hour low and high are $0.000178 and $0.000198, respectively. However, the trading volume has decreased by 4% in the past 24 hours.
Additionally, the price of USTC also saw a 1% increase in the last 24 hours. Currently trading at $0.0350, USTC’s 24-hour low and high are $0.0331 and $0.0360, respectively. Notably, the trading volume for USTC has increased by 4% in the same period.
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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