The Terra Luna Classic community has achieved unanimous approval for Proposal 11766, which calls for the implementation of the v2.2.1 core upgrade. This proposal was submitted by the L1 Terra Classic Task Force (L1TF) core developer group and is poised to bring significant changes to the blockchain, including the execution of key modifications previously endorsed through governance voting.
However, despite these positive developments, both LUNC and USTC prices continue to experience downward pressure.
Terra Luna Classic’s v2.2.1 Upgrade Officially Endorsed
The Terra Luna Classic community has officially passed Proposal 11766, submitted by the L1 Terra Classic Task Force (L1TF), to upgrade the blockchain to v2.2.1. Moreover, the proposal received unwavering support from the community, with an impressive 99.85% of votes in favor.
Among the 50 validators who participated in the governance voting, 49 cast their votes in support of the proposal. Notable validators, including Allnodes, Interstellar Lounge, HappyCattyCrypto, Stakely, 1maxfee, and others, have thrown their weight behind this initiative.
Further, L1 Terra Classic Task Force (L1TF) developer Vinh Nguyen has confirmed the readiness of the developer team to execute the v2.2.1 core upgrade. Moreover, this significant upgrade is scheduled to take place at block height 14,514,000, estimated to occur at 10:21 UTC on September 12.
Key Changes in v2.2.1 Core Upgrade
The v2.2.1 core upgrade includes several crucial modifications, actively incorporating a cosmos SDK upgrade, migrating tendermint to CometBFT, upgrading IBC-go to v6, while also actively implementing key changes that the community previously approved through governance voting. One notable change involves the division of the burn tax into the distribution module.
LUNC and USTC Prices Under Selling Pressure
Despite the positive development of the v2.2.1 upgrade, both Terra Luna Classic (LUNC) and USTC prices continue to face selling pressure. In the past 24 hours, the price of LUNC has declined by 5%. With the current trading price standing at $0.000056. The 24-hour price range for LUNC fluctuates between $0.0000565 and $0.0000605.
Meanwhile, USTC is trading at $0.012, experiencing a decrease of more than 4% in the past 24 hours. Further, the 24-hour price range for USTC extends from $0.0119 to $0.0132.
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