Terra Luna Classic (LUNC) is experiencing a significant resurgence following the overwhelming approval of a major upgrade proposal by its community. The upgrade, aimed at revising the burn tax distribution, is expected to bolster staking rewards and potentially drive LUNC's price even higher

Key Points of the Upgrade:

  • Oracle Split Logic: This mechanism will divert a portion of community pool rewards from the burn tax to the Oracle Pool (OP).

  • Reward Redistribution: The terrad client will reallocate short-term rewards to long-term rewards, further incentivizing staking.

  • Community Consensus: The upgrade proposal garnered nearly unanimous support from validators and delegators,showcasing strong community backing.

Impact on LUNC and USTC:

The combined effects of the upgrade and anticipation of the Tax2Gas upgrade have ignited a rally in both LUNC and its sister token, USTC. While both have seen impressive gains of over 40% since the recent market downturn, they still trade below their year-to-date highs.

Market Outlook

The increased trading volume for LUNC suggests growing investor interest in the project. As the upgrade is implemented and the broader cryptocurrency market remains supportive, LUNC and USTC could potentially extend their upward trajectory. However, as with any investment, caution is advised, and thorough research is essential before making any decisions.

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