- The Terra Luna Classic community has recently engaged in a critical vote on the v3.1.6 upgrade proposal.
- This proposal addresses a necessary security patch to wasmvm and aims to enhance the gas simulation for taxable transactions.
- Both LUNC and USTC prices are experiencing a significant rally amidst these developmental updates.
Discover the latest developments in the Terra Luna Classic ecosystem as the community backs crucial upgrades driving the upward price momentum of LUNC and USTC.
Terra Luna Classic Community Votes on v3.1.6 Upgrade
The Terra Luna Classic community has cast its votes on a pivotal upgrade proposal, v3.1.6, which encompasses critical security improvements. The proposal, submitted by developer StrathCole, focuses on implementing an upstream wasmvm security patch and enhancing the gas simulation for taxable transactions. These updates were initially released to endpoint providers but did not necessitate consensus changes (v3.1.5-sim.2). Moreover, the proposal includes support for the highly anticipated Tax2Gas implementation.
Community Backing and Future Implications
The v3.1.6 upgrade proposal has seen overwhelming support, with validators and delegators casting 100% “Yes” votes. Upon approval, the chain is set to be halted at block height 20085000, projected for October 4th at 1:30 PM UTC. This upgrade is a significant step towards fortifying the Terra Luna Classic ecosystem, ensuring robust security mechanisms and operational efficiency. Community consensus highlights the collaborative effort in improving the network’s integrity and future prospects.
Impact on LUNC and USTC Prices
The recent advancements within Terra Luna Classic are positively influencing its ecosystem tokens, LUNC and USTC. LUNC has surged over 6% in the past 24 hours, now trading around $0.00009369, a notable jump backed by a 50% increase in trading volume. USTC has similarly experienced a price rise, increasing by over 5%, with its trading volume growing by 55% within the same timeframe.
Market Optimism and Future Outlook
Market sentiment remains bullish as the community anticipates the upcoming Binance LUNC burn and statements from Binance CEO Changpeng “CZ” Zhao. This renewed optimism reflects in the price dynamics of both LUNC and USTC, driving a momentum that aims to breach the current resistance levels. These bullish undertones are further supported by increased trading activities and the community’s proactive engagement in governance decisions.
Conclusion
The Terra Luna Classic community’s affirmative vote on the v3.1.6 upgrade mark a pivotal moment in the network’s development trajectory. This unanimous support for enhanced security and improved transactional processes underscores a collective commitment to the project’s longevity and success. As LUNC and USTC prices rally, driven by substantial community and market support, Terra Luna Classic stands at the threshold of significant growth and revitalization.
