$LUNC

Terra Luna Classic v3.1.3 Upgrade Goes Live, LUNC Awaits Breakout))))))))))

Terra Luna Classic has successfully upgraded to v3.1.3 to revise burn tax distribution. The upgrade implemented Oracle Split logic to divert community pool rewards from burn tax to the Oracle Pool (OP) and terrad client to fix memory leaks. The upgrade happened without any outage and without losing a single chain block

Terra Luna Classic Upgraded to v3.1.3

The v3.1.3 upgrade by popular developer Fragwerdig has successfully goes live on the Terra Classic chain at block height 19108180 on July 29. Validators and developers such as Genuine Labs helped achieve the upgrade without downtime. The updates bundles Oracle split logic and wasmvm v1.5.2 update to prevent memory leaks as primary tasks undertaken by the developers. The upgrade proposal received 99.99 “Yes” votes, which indicates major support from validators and delegators

Terra Classic has a burn tax of 0.5%. With the burn tax distribution, 80% is for burn and 20% is distributed as — 10% to Community Pool and 10% to Oracle pool. This will help validators as the upgrade will bring a major boost to staking and LUNC price.

The number of staked LUNC rises to 1.04 trillion as investors anticipate an increase amid Terraform Labs bankruptcy. The staking ratio has spiked to 15.39%, a new high after the upgrade.