**Terra Classic Upgrade Proposal Could Revitalize Token Ecosystem**
The Terra Classic community has put forward a proposal to upgrade the Terra Luna Classic ecosystem, with the aim of enhancing its functionality and introducing advanced security features. The proposal, submitted by prominent LUNC developer Till โFragwuerdigโ Ziegler, outlines key improvements that could lead to a more efficient and robust network.
**About The Upgrade Proposal**
Ziegler has submitted a unique proposal to upgrade the Terra Classic Terrad client to version 2.4.0. The proposal seeks to revitalize the Terra Classic network by introducing advanced security features and key changes. The main highlights of the upgrade proposal are as follows:
โ Introduction of IBC-Hooks and Package Forward Middleware (PFM) in collaboration with Cosmos Stack developer group, Genuine Labs.
โ Onboarding of Decentralized Applications (dApps) that utilize IBC-Hooks, particularly Enterprise DAOs.
โ Delivery of an End-to-End (E2E) and Interchain Testing Suite for improved testing performance facilitated by Genuine Labs.
โ Execution of a crucial bug fix related to the processing of MsgExec in the Tax Handler, enhancing Terra Classicโs security.
These proposed upgrades will be led by Ziegler, ensuring a more secure environment for the Terra Classic community.
**Greenlighting Critical Proposals for Terra Luna Classicโs Improvement**
The Terra Classic community has been approving critical proposals aimed at improving and restoring the value of its ecosystem and native tokens. In February 2024, a proposal submitted by Genuine Labs received over 96% votes from the community, resulting in increased functionality and interoperability for Terra Luna Classic.
These developments have contributed to the growth and innovation within the Terra ecosystem. Zieglerโs upgrade proposal is expected to bring new possibilities to the Terra Classic ecosystem, potentially leading to an increase in value for its native token (LUNC), stablecoin, and USTC.
**Expected Price Surge for LUNC and USTC**
Following the announcement of the upgrade proposal, there has been a noticeable increase in the price of LUNC and USTC. LUNCโs price surged by approximately 8.62%, reaching $0.00019 according to CoinMarketCap.
Over the past seven days, LUNC has experienced a significant price leap of over 50%, with Binanceโs recent 2.2 billion LUNC token burn contributing to about 30% of this increase. Additionally, USTC has been approaching the $1 price mark, experiencing slight fluctuations before settling at its current price of $0.037.
With Terra Classicโs focus on developmental improvements, there is potential for both LUNC and USTC prices to rally, breaking crucial resistance levels and reaching the coveted $1 price mark.
**Hot Take: Terra Classic Upgrade Proposal Offers Growth Opportunities**
The proposed upgrade to the Terra Classic ecosystem presents exciting growth opportunities for both the network and its native tokens. With advanced security features, improved functionality, and increased interoperability, Terra Classic could see a surge in value for its tokens LUNC and USTC.
If approved by validators and the community, the Terra Classic chain will undergo a halt by March 25 at block height 17309500, marking the implementation of the upgrade proposal.
Investors and enthusiasts should closely monitor these developments as they have the potential to shape the future of Terra Classic and its associated tokens.
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