What are the most significant changes to Terra LUNC Classic?
The Terra Luna Classic (LUNC) ecosystem has recently undergone significant developments aimed at recovering and enhancing its structure and operations. One of the most notable changes was the implementation of the V22 update, which reintroduced staking capabilities and voting on ecosystem proposals for LUNC holders. This update is crucial for restoring governance mechanisms in the ecosystem.
Additionally, a 1.2% tax burn has been introduced to all on-chain activities within Terra Luna Classic, aiming to make LUNC's supply deflationary and stabilize its value. This token burning initiative is part of a broader plan that includes the restructuring of $9.5 billion in bad debt and efforts to re-peg the USTC stablecoin to the dollar.
Recently, the community approved the v2.4.2 upgrade proposal, which includes significant improvements such as the introduction of IBC-Hooks and security updates, marking another important step towards strengthening and scaling the blockchain.
At the community level, a group of engineers known as the "Six Samurai" has proposed a revival plan, including a community budget to restore and revitalize the ecosystem, focusing on breaking free from past issues and building a sustainable future for the Terra Classic network.
These initiatives reflect a coordinated effort by the community and developers to regain trust and functionality within the Terra Luna Classic ecosystem following previous challenges.
