Text proposal 12142 “Removal of Forked Modules from #TerraClassic $LUNC
” 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 #TerraLunaClassic 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.
#BinanceBlockchainWeek

The Terra Luna Classic (LUNC) community isn’t slowing down! With Binance’s recent LUNC burns chipping away at the circulating supply, the goal is clear: bolster long-term value and drive momentum for LUNC. 🔥🐂
Key Updates to Watch 🔍
1️⃣ LUNC Burn Initiative Gains Steam:
Binance’s continued commitment to burning LUNC tokens is all about reducing circulating supply. This strategic move aims to strengthen LUNC’s market position, benefiting long-term holders and increasing scarcity to potentially drive up value.
2️⃣ Important Deadline for Private Wallet Holders:
Mark your calendars! October 31 is the final day for private wallet holders to withdraw tokens from the TFL Shuttle Bridge wallet. If you hold LUNC in this wallet, make sure to take action to safeguard your assets.
3️⃣ New Burn Initiatives & Tax Mechanics:
Despite lower-than-ideal trading volumes keeping prices stable, the LUNC community is pressing forward. Creative burn strategies and new tax mechanisms are being explored to boost momentum and keep the excitement alive among LUNC loyalists.
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What This Means for LUNC Army 🌕💪
With these impactful changes, LUNC is staying strong and committed to growth. The community’s relentless efforts reflect a bullish outlook, so keeping a close watch on LUNC’s evolving tokenomics and the community's next moves could mean a solid opportunity for holders and new investors alike.
🔥 Liked this update? Show your support for the LUNC Army by liking, sharing, and following – stay tuned for more! 🔥
#LUNC #LUNCArmy #Binance #TerraClassic #CryptoBurns $LUNC

#TerraLunaClassic ’s price has climbed alongside the increasing burn activity. Over 320 million $LUNC
tokens were removed from circulation this past week.

LUNC.TECH data shows that 15 million #LUNC✅ were burned today alone, both through direct burns and tax mechanisms. This increased burn rate has played a key role in the token’s price performance. Reducing the supply often leads to higher demand, which can drive prices up. #TerraClassic ’s strategic token burn initiative is a central part of its plan to restore value and stability to its ecosystem.
#BinanceBlockchainWeek

#TerraLunaClassic (LUNC) is gaining traction following a significant weekly token burn of 320 million $LUNC
. This burn, which reduces the token’s overall supply, is seen by traders as a positive sign for price appreciation.

As the supply of #LUNC✅ shrinks, investors are anticipating increased price pressure, which could fuel an upward trend. This burn event, coupled with growing interest in the #TerraClassic ecosystem, has contributed to a surge in LUNC’s price over the past 24 hours, making it a key focus in the cryptocurrency market.
#BinanceBlockchainWeek

The Terra proposal dubbed 12141 and titled “Dealing with #CoinMarketCap   and other listings” seeks the community’s approval to gain access to TerraForm Lab’s listed #TerraClassic   on cryptocurrency aggregators like CoinMarketCap the world’s most trusted and accurate source for crypto market capitalizations.

These platforms display key information about crypto assets, such as price data, #tradingvolume , and links to official websites, which are vital for the visibility and reputation of the token. Despite TFL’s bankruptcy, it is still the sole entity that has the ability to log in and control these important management systems. No one else can access or update them without these “keys.” Notably, network validators Interstellar Lounge, JESUSisLORD, LUNCLIVE, moonshot, and Community First $LUNC
were first to vote “Yes” with 99.95% votes in favor.

Allnodes, a node hosting, and validator service has volunteered to temporarily take responsibility for managing access to these dashboards and any related agreements. As a custodian, Allnodes will safeguard and oversee these access rights until the TerraClassic governance decides on a long-term solution.

In other developments in the Terra ecosystem, OrbitLabs a cutting-edge blockchain development team that offers comprehensive solutions for both on-chain and cross-chain decentralized applications, submitted a proposal to the Terra Luna Classic Ecosystem. The primary goal of the proposal is to remove forked modules in the network’s standard upstream modules that have caused the Terra Classic codebase to move further away from the original or “upstream” version. This has increased divergence, driving up maintenance costs because it requires more effort to manage and support the differing codebases.

The Singapore-based company filed for Chapter 11 bankruptcy in Delaware following the collapse of its algorithmic stablecoin UST and its companion cryptocurrency $LUNA
, which precipitated a market implosion wiping out around $40 billion in value last year.

As part of the bankruptcy process, the company may be forced to wind down its operations leading to the closure of its products and services such as the Alliance Hub, Mantlemint, FCD, and API services. If no third parties take them over, the company will shut down on October 30. #LUNC✅   trades at $0.00009238, gaining 0.99% in the last 24 hours as its trading volume surged 73.14% while its market cap stands at $526 million.
#BinanceBlockchainWeek

Orbit Labs has submitted a new proposal to the #TerraLunaClassic ($LUNC
) ecosystem, pushing to remove forked modules in the network’s standard upstream modules. It also supported another proposal for a reserve charge tax.

Today, the #TerraClassic codebase relies on several forked versions of Cosmos modules, which were integrated to accommodate some of its unique features. Orbit Labs claims that these forks have caused the codebase to increasingly diverge from the upstream modules and this has kept the maintenance costs high.

These forks have also made the network vulnerable to potential security attacks due to delayed updates and massively reduced its interoperability with other networks based on the Cosmos codebase, Orbit Labs added in its proposal. It proposes to remove the forked modules and integrate the standard upstream modules.

The company also pledged support for reverse charge tax in Terra Classic, a proposal that was first submitted by two other developers. Reverse charge deducts tax from the recipient, rather than the sender, “hence eliminate the need for the sender to attach tax as an additional fee.”

The company has offered to “conduct a review under the terms of PPJ in case the proposed tax implementation passes governance.” After assessing the code, the company will ensure it’s secure and efficient and also aligns with the goals of the Terra Classic ecosystem. It says this process could cost as much as $2,500, pledging to accept LUNC payment at the prevailing rates as of when the community approves the proposal.
#TetherUnderInvestigation

Big news is brewing for LUNC (Terra Luna Classic) holders as the SEC orders Terraform Labs to burn or destroy private keys associated with LUNC wallets. This pivotal event, set to unfold before the end of the month, could lead to a significant supply shock, sparking a potential rally in LUNC’s price.
💡 What Does This Mean for LUNC?
The impending burn of private keys means that these associated wallets will be rendered inaccessible, effectively reducing the total circulating supply of LUNC. With a decreasing supply, the dynamics of scarcity could drive demand higher, leading to exciting possibilities for price appreciation.
🌱 The Terra Classic Community’s Efforts
The Terra Classic community has been proactive in its mission to cut down the circulating supply of LUNC. Various burn mechanisms have already been put into place, demonstrating a committed effort to enhance the token's value. The more LUNC that is burned, the more significant the impact on its market dynamics.
A recent proposal from OrbitLabs aims to refine the Terra Classic blockchain, focusing on removing forked modules. This alignment with the broader Cosmos ecosystem not only strengthens the technical framework of LUNC but also enhances its overall usability and interoperability.
📈 Potential Price Implications
As the burn event approaches, market speculation is likely to increase, with investors eyeing LUNC for its potential upside. The combination of reduced supply and community-driven initiatives could set the stage for a bullish trend.
Now is the time to pay attention—if you’re a LUNC holder or considering an investment, the coming weeks could be crucial for your portfolio!
🚀 Conclusion: Get Ready for the LUNC Wave!
With the SEC’s order leading to an impending supply reduction and ongoing community initiatives, LUNC is positioned for a transformative moment. Keep your eyes peeled and your wallets ready—the burn could be just the catalyst needed to spark a significant price surge!
Stay tuned for updates and insights from the Binance community as we track the unfolding events surrounding LUNC! 🌐✨
#LUNC #TerraClassic #CryptoNews #Binance #CryptoCommunity $LUNC