The major Terra Classic upgrade, which predominantly introduces IBC-Hooks to enable dApp onboarding, is currently up for vote.
The “Upgrade v2.4.2” software upgrade proposal is currently available for voting on the Station wallet. Validators and the community are being asked to grant sanction for the Terrad client to be updated to v2.4.2 (upgrade name v7).
Should the proposal be approved, the Terra Luna Classic chain is anticipated to be suspended at block height 17309000 on March 25 at 14:00 UTC. The proposal’s voting period concludes on March 15.
Several modifications occur after a discourse within the community, given that each proposal is subject to a one-week discussion period before voting. Principal modifications include the removal of package-forward middleware (PFM) from the mainnet release and including a minimum initial deposit.
Other proposal-related information is as previously disclosed by Coincreed. Consequently, the pivotal Terra Classic upgrade will encompass the subsequent advancements:
I. IBC-Hooks are introduced (by Genuine Labs and Fragwuerdig).
II. E2E and Interchain Testing Suite (by Genuine Labs)
III. A fix regarding the processing of MsgExec in Tax Ante Handler (by Fragwuerdig)
IV. Introduction of IBC-Hooks (by Genuine Labs and Fragwuerdig)
V. Add tests for MsgExec handling by StrathCole
VI. Fix minimum initial deposit handler by Frag and StrathCole
The proposal has garnered overwhelming support, as evidenced by the one hundred percent “Yes” ballots. All twenty validators who have cast ballots thus far agree with the proposal.
LUNC Price at $0.0005?
Open interest in LUNC futures has decreased in leading derivative exchanges, but 1000LUNC OI on Binance continues to support the upside movement.
Notwithstanding, the $0.0002 LUNC price foretold was realized. The cryptocurrency bull market may provide additional support for a surge to $0.0005.
The price of LUNC remains in the vicinity of $0.0002. The current price of Terra Luna Classic is $0.000196, with a twenty-four-hour moving average of $0.000188 and a maximum of $0.000198. Further, the trading volume has declined by 25% over the previous twenty-four hours.
Meanwhile, the price of USTC has decreased by 1% over the past twenty-four hours and is currently $0.0361. The 24-hour minimum and maximum values are, respectively, $0.0358 and $0.0369. Additionally, USTC trading volume has decreased by 18% over the last twenty-four hours, suggesting a waning of broker interest.
