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The Terra Luna Classic community has unanimously approved a proposal for the v2.2.1 core upgrade. This proposal was submitted by the L1 Terra Classic Task Force (L1TF).
The Terra Luna Classic community has agreed unanimously to a proposal for the v2.2.1 core upgrade, which was submitted by the L1 Terra Classic Task Force (L1TF) core developer group.
This upgrade will introduce important changes to the blockchain and put into effect changes that were previously approved through governance voting. However, the prices of LUNC and USTC tokens are still facing downward pressure.
Terra Luna Classic Officially Approves v2.2.1 Upgrade Proposal
The Terra Luna Classic community has officially passed Proposal 11766, submitted by the L1 Terra Classic Task Force (L1TF), to upgrade the blockchain to v2.2.1.
This proposal received overwhelming support from the community, with a 99.85% “Yes” vote. Out of 50 validators participating in the governance vote, 49 voted in favor, including top validators like Allnodes, Interstellar Lounge, HappyCattyCrypto, Stakely, 1maxfee, and others.
The L1 Terra Classic Task Force (L1TF) developer team, led by Vinh Nguyen, has confirmed their readiness for the v2.2.1 core upgrade. The upgrade is scheduled to take place at block height 14,514,000, estimated to occur at 10:21 UTC on September 12.
The v2.2.0 core upgrade includes several significant changes, such as an upgrade to the cosmos SDK, migration to CometBFT for tendermint, and IBC-go to v6, along with wasmd. Additionally, it implements key changes that were previously approved through governance voting, including the split of the burn tax to the distribution module.
LUNC and USTC Prices Continue to Decline
Despite recent community-approved proposals, Terra Luna Classic and USTC prices are still facing selling pressure. Additionally, these prices continue to decrease due to the overall selloff in the cryptocurrency market.
In the last 24 hours, the price of LUNC has dropped by 5%, and it’s currently trading at $0.000056. The price ranged between $0.0000565 and $0.0000605 during this period.
Meanwhile, USTC is trading at $0.012, marking a decrease of over 4% in the past 24 hours. Its price fluctuated between $0.0119 and $0.0132 within this timeframe.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
