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Terra Classic (LUNC) Community Votes On Edward Kim’s Critical Proposal

Terra Classic community votes on Proposal 11310 by core developers Edward Kim and Zaradar to upgrade the chain with v1.0.5

Published by

Varinder Singh

Updated 19 Jan, 2023 | 04:46:30 PM UTC

Terra Classic (LUNC) Community Votes On Edward Kim’s Critical Proposal

The Terra Classic community has started voting on another crucial Proposal 11310. The proposal is put forward by Terra Classic core developer Edward Kim to software upgrade the blockchain from v1.0.4 to v1.0.5.

Currently, the proposal has received nearly 99.99% votes in favor, indicating support for the proposal. The LUNC community has always supported proposals suggested by professor Edward Kim.

Terra Classic Community Votes on Proposal 11310

Terra Classic core developer Edward Kim submitted Proposal 11310 last week and updated it with the necessary changes. The proposal aims to software upgrade the Terra Classic blockchain to transition from v1.0.4 to v1.0.5. It will make transaction fees (gas and burn tax) estimation and future chain upgrade a lot easier and smoother.

Joint L1 Task Force consisting of Edward Kim, Tobias “Zaradar” Anderson, and other developers will fix the node’s LCD endpoint that corrects a calculation issue on the LCD. The upgrade is scheduled to happen at block 11,543,150, expected on February 14.

In fact, this is the first upgrade for the Terra Classic blockchain as per the Q1 roadmap. It will be followed by v1.0.6, Cosmos SDK, Tendermint, and v2.0.4 upgrades.

As per current voting details, 99.99% of voters support the proposal. Also, the proposal looks to reach the “pass threshold” before the set voting period. The proposal has received 21 validator votes until now and all have voted in favor of the proposal. Among the top validators, StakeBin, moonshot, and CryptoKing have voted “Yes” to the proposal.

Meanwhile, former Terra Rebels developer Duncan raised concerns over whether the Joint L1 Task Force team still has access to the Terra Rebels repo and which repo the validators have been using.

Also Read: Another Massive LUNC Tokens Burn By Terra Classic Community

LUNC Price Continues Its Rally

LUNC price increased nearly 10% in the last 24 hours, with the price currently trading at $0.0001755. The 24-hour low and high are $0.000158 and $0.0001773, respectively. Meanwhile, the trading volume has increased by 37% in the last 24 hours, indicating a slight interest from traders.

Also Read: 5 On-Chain Indicators Signals Bitcoin Entering Bull Market Cycle

Varinder Singh

Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.

Published by

Varinder Singh

Updated 19 Jan, 2023 | 04:46:30 PM

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