The Terra ecosystem tokens—Luna Classic (LUNC), Luna (LUNA), and TerraUSD Classic (USTC)—experienced significant price increases after the announcement of a new proposal to re-peg USTC to $1. Vegas Morph, a former Terra Rebels developer, outlined this plan to revive the previously unsuccessful peg restoration attempts.
Key elements of the proposal include:
Oracle Integration for real-time USTC price feeds.
Burn and Allocation Strategy, with a 20% burn rate, 20% allocated to the Oracle Pool, and 60% to a peg-maintenance pool.
Liquidity Pool Limits, controlling virtual liquidity pools.
Supply Cap to avoid unwanted token minting.
A Kill Switch for emergency deactivation of the module.
Following this announcement, $LUNC rose by 4.86%, $LUNA by 8.01%, and $USTC by 8.33%, reflecting optimism in the Terra community.
Source: CoinMarketCap
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