Terra Luna Classic’s Big v2.4.2 Upgrade Proposal Passed, LUNC’s New Futures Listing

Terra Luna Classic is all set for another major chain upgrade as the community has unanimously approved the proposal, receiving major support from validators. Terra Classic v2.4.2 upgrade to primarily introduce IBC-Hooks that will enable onboarding of dApps on the Terra Luna Classic, with mostly notably Enterprise DAO.

Terra Luna Classic v2.4.2 Upgrade Proposal Officially Passed

Software upgrade proposal “Upgrade v2.4.2” has surpassed the pass threshold, grabbing major support from Terra Luna Classic validators and the community to update the terrad client to v2.4.2 (upgrade name v7). Terra Luna Classic chain will be halted at block height 17309000. It is expected at 16:00 UTC on March 25, as per StakeBin data.

The proposal received 100% “Yes” votes from the LUNC holders and validators. All validators including Allnodes, Orion, Interstellar Lounge, Stakely, and HappCattyCrypto voted in favor of the proposal. The unanimous support indicates the significance of the proposal.

There are several changes after a discussion in the community as every proposal before voting has to undergo a discussion period of a week. The major changes are package-forward-middleware (PFM) removed from mainnet release and minimum initial deposit addition.

Other details on the proposal are as reported earlier by CoinGape. Thus, the key Terra Classic upgrade will have the following developments:

• Introduction of IBC-Hooks (by Genuine Labs and Fragwuerdig)
• E2E and Interchain Testing Suite (by Genuine Labs)
• A fix regarding the processing of MsgExec in Tax Ante Handler (by Fragwuerdig)
• Introduction of IBC-Hooks (by Genuine Labs and Fragwuerdig)
• Add tests for MsgExec handling by StrathCole
• Fix minimum initial deposit handler by Frag and StrathCole

Terra Luna Classic community has also approved Genuine Labs’ major security upgrade proposal updating key components to Cosmos SDK 0.47.10, IBC go v7, and Wasmd 0.45.0.

Read More: Terra Classic Genuine Labs Proposal Officially Passed, LUNC Burn Rate Skyrockets

LUNC Spot and Futures Listing

Singapore-based crypto futures trading platform WEEX has announced the listing of LUNC spot and futures pairs. Users can trade LUNC/USDT futures and LUNC/USDT spot on March 11.

LUNC price jumped 1% in the past 24 hours and 4% in a week, with the Terra Luna Classic price trading at $0.000190. The 24-hour low and high are $0.000178 and $0.000198, respectively. The trading volume has dropped further by 4%in the past 24 hours.

USTC price also leaped 1% in the last 24 hours. The price currently trades at $0.0350, with a 24-hour low and high of $0.0331 and $0.0360, respectively. Furthermore, trading volume has increased by 4% in the past 24 hours.

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Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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