Max Callisto, One Of The LUNC DAO’s CEOs To Re-Open IBC Protocol While Terraform Labs Re-Affirm The Implementation Of LUNC 1.2% Tax Burn Proposal On the Sept 20th.
According to a tweet by Max Callisto, he disclosed launching a proposal for the Terra classic community to enable again the Inter Blockchain Communication (IBC) protocol.
Terra Classic Community Members To Re-Enabling IBC Protocol
Max Callisto is one of the LUNC DAO’s CEOs, it stated in his tweet;“As one ofLUNCDAOCEOs, reopen the IBC gates of Terra Classic!”
https://twitter.com/MaxCallisto/status/1569171666143707138
Why Was The Protocol Created?
The IBC protocol was created by Cosmos to connect independent blockchains and allows them to exchange data and tokens. As a Cosmos chain, Terra Classic used IBC but had to disable it during the LUNA Classic (LUNC) crash following the Terra USD (USTC) de-pegging incident to prevent LUNA liquidity pools from suffering impermanent lo...