$LUNC News: Terra Luna Classic Makes Final Key Changes To Upgrade
LUNC News: Terra Luna Classic developers worked together to make swift progress in preparedness for upcoming tax distribution upgrade.
Terra Luna Classic developers have made final changes to the tax distribution upgrade. After completing development for Oracle Split logic to divert community pool rewards from tax burn to the Oracle Pool (OP), a release of the terrad client is created that will reroute short-term rewards to long-term rewards.
Terra Luna Classic Tax Burn Distribution Upgrade Preparedness
The new Release v3.1.3 was announced by Terra Classic popular developer Till Z, known as Fragwuerdig in the LUNC community. The latest update was done in collaboration with a few other developers including StrathCole as per proposals 12098 and 12114 passed by the community.
A proposal will be submitted to get validator and community approval to update terrad client to v3.1.3. The chain will halt at block height 19108180, anticipated on July 29 at 13:00 UTC. The community anticipates key LUNC news regarding token burns by TFL before the update.
The logic will divert Block rewards to the Oracle Pool (OP), slowing down its depletion rate. This effectively makes the requirement change from short-term rewards to long-term rewards as per the proposals. The Genuine Labs made a second key change regarding the security and memory leak issues in wasmvm, which was fixed by bumping wasmvm version to v1.5.2.
LUNC and USTC Jump Amid Market-Wide Recovery
In a major LUNC news for the community, Terra Luna Classic rallied more than 27% this week to recover from last month’s correction. LUNC price soared over 1% in the last 24 hours, with the price currently trading at $0.00009066. The 24-hour low and high are $0.00008865 and $0.00009411, respectively. Moreover, trading volume decreased slightly in the last 24 hours.
As per LUNC price analysis by CoinGape Markets, the price can easily surpass $0.0001 resistance. The leading indicators are showing signs of bullishness.