Prominent Terra Luna Classic member and validator Vegas Morph has revealed a proposal to repeg USTC to $1. This has sparked optimism in the community, with LUNC price continuing to rise after a 15% increase in a week.

Additionally, the community is also optimistic due to developments such as Terraform Labs token burn, Tax2Gas upgrade, and security updates.

Renowned Terra Luna Classic Authenticator Proposes USTC Repeg Plan
Vegas Morph, a former member of the Terra Rebels development team, has proposed a plan for a USTC repeg after recent efforts failed to progress and benefit the Terra Luna Classic community.

In a recent Medium post, the validator explained the following changes that were necessary to safely re-enable the market module. He asserted that this would help repeg USTC to US dollars.

The developer working on repeg needs to integrate an oracle module that provides a real-time price feed to USTC. The burn amount should be set to 20% of the fee, allocate 20% to the Oracle Pool, and assign the remaining 60% to a pool to maintain the peg.

Additionally, virtual liquidity pool size should come with limits and introduce multiple pools with conditional triggers. Developers should apply hard caps on LUNC and USTC supply, which should address unwanted token minting.

Additionally, there needs to be an off-switch for the module. RedlineDrifter, a member of the USTC Quant repeg team, responded positively to these efforts and asked the Terra Luna Classic community to reconsider.

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