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lunc strong Burning 🥵 
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What happened to Lunc, why is it not growing? When will this sleeping giant wake up? 🫥🤐😶‍🌫️🥱

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Terra Luna Classic Passes Forked Modules Removal Proposal Text proposal 12142 “Removal of Forked Modules from Terra Classic” is approved by the Terra Luna Classic community as the votes have surpassed the pass threshold. Developer group OrbitLabs proposes to remove the forked mainline modules from the Terra Luna Classic blockchain to improve maintainability, reduce technical debt, and align with the broader Cosmos ecosystem.The proposal has received 99.97% “Yes” votes, indicating unanimous support from validators and delegators. It also saw some ‘No with veto’ and ‘Abstain’ votes. Validators such as Allnodes, Stakely, HappyCattyCrypto, and others voted in favor of the proposal.The forked versions not only raise operational costs but also increase the risk of missing important security updates, the proposal said. OrbitLabs stressed that without action, Terra Luna Classic would face growing security risks, higher expenses, and diminished competitiveness in the evolving crypto landscape.As CoinGape reported, the Terra Classic proposal plan involves two phases, first focuses on updating the consensus engine and the Cosmos SDK. By doing so, Terra Classic will be more in line with the latest security features and innovations from the Cosmos ecosystem.On the other hand, the second phase will involve upgrading the Wasmd contract system, ensuring compatibility with existing smart contracts, and minimizing disruptions during migration. Notably, if the proposal passes final approval, the timeline includes eight weeks for phase one and another ten weeks for phase two. #lunc #ustc

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Terra Luna Classic Community Plans 1B USTC, 275B LUNC Burn Terra Luna Classic community awaits massive USTC and LUNC burn by Terraform Labs (TFL) as per the Chapter 11 bankruptcy and court order in the U.S. SEC case. While the actual amount of Terra ecosystem tokens to be burned remains uncertain, Terra Classic members claim it’s over 1 billion USTC and 275 billion LUNC tokens. LUNC price and USTC recovers 15% in a week. Terra Luna Classic Community Prepares For USTC & LUNC Burn Terra Luna Classic validator HappyCattyCrypto in an X post on September 9 opened up about his research into the amount of tokens burn expected from TFL. According to him, over 1 billion USTC and 275 billion LUNC tokens could burn as a result of Chapter 11 bankruptcy proceedings. Notably, over 2.58 billion LUNC have been claimed from the shuttle bridge reopened by TFL, as per Terra Finder transactions data. In addition, the validator urged the community to migrate Mirror Protocol and Anchor Protocol contracts to new code via governance similar to Risk Harbor. The funds associated with Mirror Protocol and Anchor Protocol are Columbus-5 native assets USTC and LUNC. All Terra Luna Classic assets as stated by Chris Amani and ordered by the court judgment should be burned. TFL will not interact with Columbus-5 or Phoenix-1 chains after October 31. Any token burn or transfer will be difficult post the court-approved date. “As TFL begins winding down its operations, Proposal 4818 will be the final chain upgrade that we implement. Pursuant to TFL’s settlement with the SEC and implementation of its proposed chapter 11 plan, TFL will no longer have the ability to support future chain upgrades,” as per Terra Money. Total LUNC burn from Mirror Protocol would be 480,404,166, as per a Commonwealth post. Also, a total of 46,556,271 USTC can be burned from Mirror Protocol and 729,976,293 USTC from Anchor Protocol.

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Breaking: WLUNC Soars 28% As Terra Opens Shuttle Bridge WLUNC Soars 28% As Terra Opens Shuttle Bridge Shuttle Bridge Reopens For 30-Day Asset Redemption Wrapped LUNA Classic (WLUNC) has seen a 28% upswing in its price following the reopening of Terra Classic’s Shuttle Bridge. The Shuttle Bridge reopening enables users to transfer their LUNC and USTC assets bridged from networks such as the Ethereum mainnet, BNB Chain (BSC), and Harmony back to Terra Classic. WLUNC Soars 28% As Terra Opens Shuttle Bridge In a recent development for Terra Classic users, the Shuttle Bridge has been reopened, allowing for the transfer of wrapped assets back to the network. This update has sparked a 29.99% Wrapped LUNA Classic price surge to $0.00008246 alongside an increase of 28.94% in the WLUNC market cap. Concurrently, the trading volume for WLUNC increased massively by 237.75% to $173,906.22, indicating heightened trading activity and investor interest. This bullish trend in WLUNC demonstrates the market’s positive reaction to the updates to facilitate asset management and redemption. Additionally, The bridge’s reopening enhances WLUNC’s liquidity and ensures users retain control over their cryptocurrencies. However, LUNC price reaction was mild, with a 0.65% surge at the time of writing. The token has, however, broken the $0.00008406 intraday resistance level, signaling a potential rally.

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