Terra Luna Classic’s developer team, Genuine Labs, has set the v3.0.1 upgrade for June, which will be up for governance voting. This upgrade includes SDK 47 and other significant updates to enhance the system’s efficiency and robustness.
The proposal comes after Genuine Labs announced they are ready for a major upgrade. Investors are wondering if LUNC’s price will rally in June.
Genuine Labs’ v3.0.1 Upgrade Proposal for Terra Luna Classic
Genuine Labs has submitted Proposal 12110 for the v3.0.1 upgrade, now up for governance voting on the Station wallet. The proposal seeks community and validator approval for the upgrade, which includes SDK v0.47, wasmd v0.45, ibc-go v7, and a p2p storm fix to improve network performance and operation.
If approved, the proposed binary will be deployed through a chain halt software upgrade. This means the Terra Classic chain will be halted at block height 18,303,000, requiring validators to replace the old binary with the new one. The upgrade is scheduled for June 2, 2024, at 16:00 UTC.
The proposal has received unanimous support from the community so far, with 100% votes in favor. Among the validators, four have participated in the governance voting, and all have voted in favor of the proposal.
LUNC and USTC Trading Update
LUNC’s price has been trading sideways over the last 24 hours, currently sitting at $0.0001134. The 24-hour low and high are $0.0001127 and $0.0001155, respectively. Trading volume has decreased by 30% during this period.
Similarly, USTC is trading sideways at $0.02252. The 24-hour low and high for USTC are $0.02244 and $0.02319, respectively. Despite the sideways movement, the price is up 16% this month.
There are low trading volumes in both spot and derivatives markets, as traders likely await cues from the broader crypto market.
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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