Terra Luna Classic v2.3.2 Upgrade Proposal
The Terra Luna Classic community is preparing for another upgrade with the introduction of Proposal 11890, which aims to resolve the sequence mismatch issue. This proposal has already received unanimous support from validators and LUNC and USTC holders, making it almost certain to pass.
Background on the Issue
The community had previously approved a proposal to address the sequence mismatch issue. However, validators and core developer L1TF decided to change it to an upgrade proposal to simplify the process for validators. This means that the chain will automatically halt, allowing for an easier upgrade for validators and node operators.
Details of the Upgrade
The upgrade will involve the on-chain deployment of terrad client v2.3.2, which specifically addresses the critical issue of sequence mismatch affecting certain validators during dyncomm commission edits.
To accommodate this upgrade proposal, the binary has been changed to version v2.3.2 (v6_1). The chain will halt at block 15751600, estimated to occur at 1:18 pm on December 8.
LUNC And USTC Rally
The LUNC and USTC tokens have experienced significant rallies in recent weeks, with gains of 85% and 350% respectively this month. Traders anticipate some profit booking as the month comes to a close due to lower trading volumes and expiration.
Recent developments such as Mint Cash news and Binance launching a USTC perpetual contract, along with new USTC trading pairs, have contributed to the surge in prices.
Price Movements
LUNC price has seen a slight decline of 3% in the past few hours, currently trading at $0.000114. The 24-hour low and high are $0.0001126 and $0.0001269 respectively, with a 50% decrease in trading volume over the last 24 hours.
Meanwhile, USTC price is currently at $0.051, experiencing a 4% decrease after a 300% rally this week. The 24-hour low and high are $0.0496 and $0.0574 respectively.
Hot Take: What Lies Ahead for Terra Luna Classic?
The Terra Luna Classic community is poised for another upgrade that aims to resolve the sequence mismatch issue. With overwhelming support from validators and token holders, this proposal is likely to pass smoothly.
Additionally, the recent rallies in LUNC and USTC prices have garnered attention from traders. However, it remains to be seen how these tokens will perform as the month comes to an end and trading volumes potentially decline.
Overall, the future of Terra Luna Classic looks promising with ongoing upgrades and positive price movements.
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