The Terra Luna Classic community approved a crucial proposal to update the IBC client, enabling connection with Kujira. This move unlocks liquidity and releases frozen funds, enhancing the Terra Classic revival initiative.
The Terra Luna Classic community has approved a crucial proposal to update the IBC client between Terra Classic and Kujira (from 07-tendermint-178 to 07-tendermint-246). This update will restore the functionality of the connection between the two chains. This will increase liquidity and release locked funds, bolstering the Terra Classic revival initiative.
Unanimous support is given to Proposal 12099, “Restore IBC to Kujira,” by the Terra Luna Classic community. Re-enabling the IBC client 07-tender mint-178 connection between Terra Classic and Kujira was the proposal of the RakoffToken team.
Upgrades will be made to IBC clients 07-tender mint-178 and 07-tender mint-246 to reestablish the chain link and release blocked funds.
The proposal has garnered 99.99% of the community’s ballots in favor, signifying unanimity regarding the implementation of inter-blockchain communication (IBC) to restore the lost connection between chains. In addition, 36 validators, including Allnodes, Interstellar Lounge, HappyCattyCrypto, and Luna Station 88, demonstrated steadfast support.
In the interim, the community actively seeks a comprehensive solution to mitigate the dangers of peer-to-peer storm attacks. Genuine Labs proposes to reduce MaxBlockSize from 5mb to 2mb to combat peer-to-peer abuse as an initial security measure.
The LUNC price has increased by 1% in the previous twenty-four hours and 6% in the past week, reaching $0.0001112. The 24-hour high and low are, respectively, $0.0001063 and $0.0001121. Moreover, there has been a minor decline in trading volume over the past twenty-four hours, suggesting an increase in investor interest. The community maintains optimism that the price of LUNC will reach $1.
In the interim, the price of USTC has increased by 1% since its 20% surge last week; it is presently trading at $0.0200. The respective 24-hour low and high are $0.01918 and $0.02036.
