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Terra Luna Classic Gears Up for Major Chain Upgrade: Unanimously Approved Proposal Marks Milestone

In a landmark decision hailed by the Terra Luna Classic community, the eagerly awaited software upgrade proposal, “Upgrade v2.4.2,” has officially secured passage with resounding support from validators and stakeholders. With an overwhelming 100% “Yes” vote from LUNC holders and validators alike, the proposal signifies a pivotal moment in Terra Luna Classic’s journey towards greater functionality and interoperability within the blockchain ecosystem.

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Software upgrade proposal

Scheduled to take effect at block height 17309000, the upgrade is slated to commence at 16:00 UTC on March 25, according to data provided by StakeBin, a leading authority in blockchain analytics.

The proposal garnered widespread acclaim for its transformative potential, particularly in facilitating the seamless integration of decentralized applications (dApps) onto the Terra Luna Classic platform. Central to this upgrade is the introduction of IBC-Hooks, a groundbreaking innovation developed collaboratively by Genuine Labs and Fragwuerdig. This milestone achievement promises to unlock new avenues for innovation and adoption within the Terra Luna Classic ecosystem, notably highlighted by the anticipated onboarding of Enterprise DAO, signalling a strategic leap forward for decentralized governance frameworks.

In addition to the introduction of IBC-Hooks, the upgrade encompasses a suite of enhancements aimed at fortifying the platform’s infrastructure and optimizing performance. Noteworthy developments include the implementation of an end-to-end (E2E) and Interchain Testing Suite, spearheaded by Genuine Labs, alongside critical fixes addressing MsgExec processing in Tax Ante Handler, courtesy of Fragwuerdig.

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The community’s unwavering support for the proposal underscores its significance, with key stakeholders such as Allnodes, Orion, Interstellar Lounge, Stakely, and HappCattyCrypto rallying behind the initiative. Reflecting a spirit of collaboration and consensus-building, the unanimous approval signals a unified commitment to advancing the principles of decentralization and innovation within the Terra Luna Classic ecosystem.

Furthermore, the community has greenlit Genuine Labs’ major security upgrade proposal, ushering in key enhancements to core components such as Cosmos SDK 0.47.10, IBC go v7, and Wasmd 0.45.0. This comprehensive security overhaul underscores Terra Luna Classic’s steadfast dedication to ensuring the integrity and robustness of its infrastructure amidst evolving cyber threats and regulatory challenges.

In tandem with these landmark developments, Singapore-based crypto futures trading platform WEEX has announced the listing of LUNC spots and futures pairs, providing users with enhanced liquidity and trading opportunities. The listing, which includes LUNC/USDT futures and LUNC/USDT spot pairs, is set to go live on March 11, marking a significant milestone in Terra Luna Classic’s journey towards greater market accessibility and exposure.

As anticipation mounts for the impending upgrade, market sentiment remains buoyant, with the price of LUNC surging by 1% in the past 24 hours and 4% over the week. Currently trading at $0.000190, with a 24-hour low and high of $0.000178 and $0.000198 respectively, LUNC continues to capture the imagination of investors and enthusiasts alike.

Similarly, USTC has witnessed a commendable uptick in price, with a 1% increase recorded over the past 24 hours. Trading at $0.0350, with a 24-hour low and high of $0.0331 and $0.0360 respectively, USTC’s resilience and market momentum underscore its growing prominence within the broader cryptocurrency landscape.

With the stage set for a new era of innovation and growth, Terra Luna Classic stands poised to redefine the contours of decentralized finance, driving forward a vision of inclusivity, sustainability, and technological progress.

As the countdown to the monumental upgrade begins, stakeholders and enthusiasts alike await with bated breath, eager to witness the dawn of a new chapter in Terra Luna Classic’s storied journey.

 


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