With version 3.3.0, this is a monumental move for #TerraLunaClassic and provides an outlook on improving utility from the chain to developers and projects involved, reported CNF. This iteration is essentially about tax mechanism enhancements and improvements in the total functioning of the platform.
Binance made an official statement stating that the exchange fully supports the Terra Luna Classic v3.3.0 upgrade. It is going to temporarily suspend deposits and withdrawals on the network, but trading of $LUNC
tokens will not be affected during this process.
“Binance will handle all technical requirements involved for all users,” the exchange assured in its announcement. The exchange will ensure a seamless transition for its users. Meanwhile, other crypto exchanges, like Bybit and OKX, have also announced support for the v3.3.0 upgrade.
Moreover, it’s worth noting that Binance has also been actively contributing to the revival efforts of the network in Terra Luna Classic. For instance, Binance participates in monthly LUNC burn initiatives that intend to decrease the token supply. To date, the community has burned a total of 393.87 billion LUNC tokens, and Binance accounts for 68.39 billion of this through its contributions.
The v3.3.0 upgrade includes a number of features aimed at making operations smoother and the network performance better. The upgrade will simplify the process of handling taxes, which automatically deducts taxes from the transactions before sending them to the recipient’s wallet.
The update is likely to improve the efficiency of the network and attract more developers who are willing to develop decentralized applications (dApps) on the platform. Whilst community efforts toward reviving Terra Luna Classic involve focusing on key areas such as increasing utility, supporting the $USTC
repeat, and accelerating the LUNC burn initiative.