Terra Luna Classic Submits Revised Core Upgrade Proposal, LUNC Price to $0.0005 Next?

Terra Luna Classic developer Genuine Labs resubmits a revised proposal for major core updates to boost security, functionality, and interoperability. The security upgrade package from Genuine Labs includes improvements and optimizations to Wasmd, IBC Go, and Cosmos SDK.

Terra Luna Classic Set For Major Upgrade

Proposal 12088 “Genuine Labs’ security upgrade packages” is up for governance voting on Station wallet. After notable developers raised concerns over the odds of successfully upgrading to Cosmos SDK 0.50.1, the developer group will first upgrade to Cosmos SDK 0.47 in the major core upgrade. The proposal now outlines the strategic upgrade to Cosmos SDK 0.47.10, IBC go v7, and Wasmd 0.45.0

Genuine Labs comprising three developers plan to complete all developments in 8 weeks, with an estimated budget of $30K. Cosmos SDK 0.47.10 offers enhanced security, increased interoperability, developer-friendly improvements, and overall performance benefits for building or using applications on the Cosmos network. The slated upgrades in the security package are:

• Upgrade Wasmd
• Upgrade Comet BFT
• Upgrade Cosmos SDK
• Upgrade dependencies, includes: ibc-go v8, cosmos proto and cometbft-db
• Writing upgrade handler
• Applied changes on Terra Classic Core
• Testnet Upgrade
• Mainnet Upgrade

The proposal has received 99.89% “Yes” votes in the initial voting, with all 21 validators who participated in the voting have favored the proposal.

Meanwhile, IBC hooks & PFM introduction are under discussion in core upgrade v2.4.1 as L1 developers have created a new release of the “terrad” client as part of the core upgrade.

Read More: Terra Classic Core Dev JL1TF Founded by Edward Kim Disbands, Here Why

LUNC Price Performance

As predicted by CoinGape, LUNC price surpassed the $0.0002 psychological level backed by various factors. LUNC price jumped over 1% in the past 24 hours, with the Terra Luna Classic price trading at $0.0002005. The 24-hour low and high are $0.0001609 and $0.0002517, respectively. Moreover, trading volume has increased by 70% in the last 24 hours. In order to kick off to $1, LUNC first needs to break major resistance at $0.0005 in September 2022.

USTC price continues to trade sideways near $0.03800 for a week 25%, with volatile price movements in the last 24 hours. The price is currently trading at $0.03672, with a 24-hour high of $0.04512. Furthermore, trading volume has jumped 74% in the past 24 hours.

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