Terra Luna Classic Community Votes on v2.4.2 Upgrade Proposal
The Terra Luna Classic community is currently voting on the blockchain’s next major update, known as the v2.4.2 upgrade. This upgrade aims to introduce IBC-Hooks, which will allow for the onboarding of dApps on the Terra Luna Classic platform, including the Enterprise DAO.
Upgrade v2.4.2 Proposal for Voting
The software upgrade proposal, called “Upgrade v2.4.2,” is now open for voting on the Station wallet. This proposal seeks approval from validators and the community to update the terrad client to v2.4.2 (upgrade name v7). If the proposal is passed, the Terra Luna Classic chain will be halted at block height 17309000 on March 25 at 14:00 UTC. The voting period for this proposal closes on March 15.
During the discussion period prior to voting, several changes were made to the proposal based on community input. These changes include removing package-forward-middleware (PFM) from the mainnet release and adding a minimum initial deposit requirement.
Here are some key developments included in the Terra Classic upgrade:
- Introduction of IBC-Hooks by Genuine Labs and Fragwuerdig
- E2E and Interchain Testing Suite by Genuine Labs
- A fix for processing MsgExec in Tax Ante Handler by Fragwuerdig
- Addition of tests for MsgExec handling by StrathCole
- Fix for minimum initial deposit handler by Frag and StrathCole
So far, the proposal has received overwhelming support with 100% “Yes” votes. All 20 validators who have participated in the voting are in favor of the proposal.
LUNC Price Outlook
The futures open interests for LUNC have dropped on major derivative exchanges. However, the 1000LUNC OI on Binance continues to provide support for potential upside movement. As predicted by CoinGape, the LUNC price reached $0.0002. With the ongoing crypto bull market, there is potential for further upside to $0.0005.
Currently, the LUNC price is hovering around $0.0002. The Terra Luna Classic price is trading at $0.000196, with a 24-hour low and high of $0.000188 and $0.000198 respectively. Trading volume has also decreased by 25% in the past 24 hours.
On the other hand, USTC price has fallen by 1% in the past 24 hours, with the current price at $0.0361. The 24-hour low and high for USTC are $0.0358 and $0.0369 respectively. Trading volume for USTC has also dropped by 18% in the past 24 hours, indicating a decline in interest among traders.
Hot Take: What’s Next for Terra Luna Classic?
The Terra Luna Classic community is actively participating in the voting process for the v2.4.2 upgrade proposal, which aims to bring significant improvements to the platform. If approved, this upgrade will introduce IBC-Hooks and allow for the onboarding of dApps, including Enterprise DAO.
In terms of price, LUNC has experienced some fluctuations but remains around $0.0002. With ongoing bullish momentum in the crypto market, there is potential for an upside push towards $0.0005.
As the voting period for the upgrade proposal comes to a close, it will be interesting to see the final results and how the Terra Luna Classic ecosystem evolves with these new developments.
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