Terra Luna Classic L1 Developer Team Announces Core Upgrade, LUNC To Recover?

Terra Luna Classic core developer L1 Terra Classic Task Force (L1TF) shared updates on the progress and direction of its plan to focus on reducing USTC and LUNC supply in Q3. The developer group is preparing for a major core upgrade v2.2.0 to make several improvements in the Terra Luna Classic blockchain while resolving issues and ensuring stability.

Terra Luna Classic Core Developer Prepares For Major Upgrade

L1 Terra Classic Task Force (L1TF) lead developer Vinh Nguyen on August 9 announces sprint #1 report and preparations for the major v2.2.0 core upgrade. Former LITF member “Frag” appreciated Vinh Nguyen for finally coming out with a written update on progress and plans for the Terra Luna Classic blockchain.

According to the report published in the Commonwealth forum, the sprint is now open source and the community can check real-time updates on tasks and additional work completed by the developer group.

In the last few days, L1TF worked on implementing changes as per proposals passed by the community, fixing problems faced by DApps, and maintenance of the chain.

In Sprint #2, L1TF prepares for the v2.2.0 upgrade, which consists of Cosmos SDK v46, CometBFT migration, and IBC – go v6. It aims to address many chain issues and ensure stability. The upgrade also includes above layer 1 – logic proposals and fix to smart contract module (wasmd).

After LuncBurnArmy and Frag resigned from the L1TF, tasks are managed by Vinh, Inon Man, Xi, and Gevik. The community appreciated the efforts put in by the developers to revive LUNC and USTC.

Read More: Fireblocks Situation Risks Binance And Others To Delist Terra Luna Classic (LUNC)

LUNC and USTC Prices Continue To Hit Support Levels

LUNC price falling to support levels due to lack of momentum and activity in the group as developers focus on USTC repeg. Also, the community has passed two proposals to burn 800 million USTC linked to the Ozone protocol.

LUNC price claims nearly 1% in the past 24 hours after falling to $0.000075, with the price currently trading at $0.000078. The 24-hour low and high are $0.0000758 and $0.0000787, respectively.

Meanwhile, USTC price trades at $0.015, down nearly 1% in the past 24 hours after rising 31% in a month amid USTC repeg efforts. The trading volume has also decreased by 33% in 24hrs.

Also Read:

• Binance Expands Support For Dogecoin, DOGE Price Rally To $0.1 Coming?
• Shiba Inu Lead Developer Hints At Imminent Shibarium Mainnet Release
• Bitcoin To Soon Witness Bullish Breakout Amid BTC ETF Expectations: Bloomberg