Luna LUNC News: Terra Luna Classic developer L1 Terra Classic Task Force (L1TF) announces progress with the v2.2.0 core upgrade of the chain. The upgrade will be tested on the rebels-2 testnet for a week before the mainnet is expected to go live in September starting. Meanwhile, LUNC and USTC tokens are building momentum for an upside move.
Terra Luna Classic v2.2.0 Core Upgrade
L1 Terra Classic Task Force (L1TF) developer Vinh Nguyen took to X to reveal that the developer group has successfully completed Sprint 2 from August 8-21. The team has released core v2.2.0 first version (rc1) and will work with front-end, contract teams on the rebels-2 testnet to ensure backward compatibility.
According to the report, code work for the v2.2.0 core upgrade including cosmos SDK upgrade to SDK 46, tendermint migration to CometBFT, IBC-go to v6, and wasmd is completed.
“We expect mainnet upgrade will happen by the end of sprint #3. Further more, we will investigate the possibility of migrating oracle and 20% VP limit logic from forked cometbft and cosmos – sdk to core. This will allow terra – classic to use canonical cometbft and cosmos – sdk which will greatly reduce upkeep effort.”
L1TF also looked at LUNC cap proposal, which stops the chain to not mint more LUNC in every block. However, it’s the primary source of income for delegators, validators, and the community pool. L1TF recommends avoiding the change as it may damage the chain.
In addition, it will impact USTC swap functioning. If LUNC is capped, no LUNC will be issued to a trader when swapping USTC. The L1TF is also tracking developments related to community-owned Station, Finder, and wallet.
LUNC Price Picks Up Momentum
Terra Luna Classic and USTC prices are gaining upside momentum, recovering from the recent drop due to the recent selloff in the broader crypto market.
LUNC price fell 1% in the past 24 hours, with the price currently trading at $0.000065. The 24-hour low and high are $0.0000638 and $0.0000663, respectively.
Meanwhile, USTC price trades at $0.013, up nearly 5% in the past 24 hours. The 24-hour low and high are $0.0126 and $0.0137, respectively.
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