"Major Upgrades Approved! đ Genuine Labs' Terra Luna Classic Overhaul Gains Massive Community Support!"
We're thrilled to share that Genuine Labs' proposal for substantial core updates has received official approval from the Terra Luna Classic community. These updates are set to fortify security, enhance functionality, and boost interoperability within our ecosystem.
Following extensive improvements to Wasmd, IBC Go, and Cosmos SDK, Proposal 12088, "Genuine Labs' Security Upgrade Packages," garnered an impressive 99.95% "Yes" vote. This overwhelming support comes from validators like Allnodes, Orion, Interstellar Lounge, Stakely, and JesusIsLord.
Genuine Labs plans to implement these critical upgrades over an 8-week period, allocating an estimated budget of $30,000. The upgrades, starting with Cosmos SDK 0.47 and progressing to Cosmos SDK 0.50.1, promise heightened security, improved interoperability, and developer-friendly enhancements for applications within our cherished Cosmos network.
In tandem with these exciting developments, we've observed a notable surge in the LUNC burn rate. The average daily burn now stands at 200 million tokens, resulting in a total burn of 1.3 billion LUNC tokens this week alone. This reduction in supply has contributed to a more than 2% rise in futures open interest on major derivatives exchanges.
On the price front, LUNC has witnessed a 1% increase over the past 24 hours and an impressive 12% surge throughout the week, currently trading at $0.000193. Analysts speculate a potential breakout above $0.0005, creating anticipation for the next phase in our Terra Luna Classic journey! $LUNC
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