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Terra Luna Classic Proposal To Revive LUNC and USTC Fails Proposal 11767 “Test market swap with mint limiter” aims to make the L1TF test using the limiter in the market swap only, which will successfully reopen the LUNC and USTC market swap. Terra Luna Classic community enabling the market swap function will significantly reduce LUNC and USTC supply and help the community meet its vision of USTC repeg to $1 and Terra Luna Classic (LUNC) revival to $1. advertisement However, the USTC Quant Team and L1 Terra Classic Task Force denied the benefits of testing using the limiter in the market swap only at this time. Quant team member RedlineDrifter earlier shared several issues with the market module. It caused Allnodes, a validator with 17.25% of voting power to refuse the proposal. The proposal has received only 45% “Yes” votes, but gets 50%”No” and 5% “Abstain” votes. Among 38 validators who voted, 17 including Interstel...

Also Read: Ex SEC Chief Warns Of More Crypto Lawsuits Ahead; Which Exchange Can Be Next? advertisement LUNA Classic To Be Treated Separately? As per reports, a South Korean District Court rejected the prosecution’s claims around the crypto LUNA. However, the court also dismissed the state’s appeal of confiscating Hyun-Seong Shin, Terraform Labs ’ former co-CEO. In the judgment, the court mentioned that it is difficult to see LUNA (now LUNC ) as a financial investment product that can be regulated by the Capital Markets Act. It is important to note that most of the previous South Korean court trials declared that cryptos were not examined as securities. However, the other courts used terms such as “there is a room for dispute in terms of the law”. Read More LUNC News Here… The World’s first licensed Crypto Casino. Begin your journey with 20% cashback up to 10,000 ...

Terra Luna Classic v2.2.0 Core Upgrade Readiness L1 Terra Classic Task Force (L1TF) developer Vinh Nguyen took to X to reveal that the developer team is ready for the v2.2.0 core upgrade and will process it after it passes the governance proposal mechanism. Moreover, all full nodes and validators should update with the v2.2.0 release after approval of the proposal by the Terra Luna Classic community. advertisement The team successfully completed the testnet upgrade and all reported issues are now fixed. Several validators joined the rebel-2 testnet prior to scheduling the mainnet upgrade. According to the report, code work for the v2.2.0 core upgrade including cosmos SDK upgrade, tendermint migration to CometBFT, IBC-go to v6, and wasmd are completed. The upgrade introduces key changes earlier passed through governance voting including splitting the burn tax to the distribution module. Read More: Terra Luna Classic Requisite Market Swap Reopening For LUNC ...