- Joint L1 Task Force (L1TF) announces its Q3 development plans for Terra Luna Classic, contributing to a 20% rise in LUNC and 50% in USTC.
- A deal with on-ramp provider Guardarian to list LUNC for free, paired with USTC negotiations, forms a key part of L1TF’s strategic initiatives.
The Joint L1 Task Force (L1TF), the core developer team for Terra Luna Classic, confirmed on Monday their advancement into Q3 development plans, subsequently sharing Q2 achievements. Focusing on the USTC stablecoin repeg in Q3, alongside significant upgrades and a reduction in LUNC and USTC circulating supplies, forms the backbone of these plans.
Guardarian Deal Stimulates Q3 Progress
In addition, a strategic alliance with on-ramp provider Guardarian to list LUNC at no cost forms a part of this forward momentum, while discussions surrounding USTC continue. This deal was facilitated by Block Entropy team members, led by Edward Kim.
The project manager for the L1TF developer team, LuncBurnArmy, publicly announced the conclusion of Q2 development work via Twitter, signaling the successful completion of multiple major upgrades and maintenance tasks. As Q3 development plans commence, running from July 17 to October 17, L1TF pledges to release updates every two weeks.
LuncBurnArmy disclosed the exciting news that Guardarian has agreed to provide services to the Terra Luna Classic community free of charge, also planning to list LUNC without incurring listing fees. A test version of Station is currently trialing this on-ramp.
Assessments of potential service providers will be made before recommendations or governance proposals move forward. Despite this, the technical implementation has been completed, thus achieving the Q2 goal.
Among other accomplished tasks outlined in a Medium post, L1TF successfully upgraded Cosmos SDK and CosmWasm, initiated IBC to the Kujira chain, implemented vital security patches, and resolved smart contract issues with Dapps and various projects, primarily Astroport.
In the coming period, L1TF intends to return the budget surplus from Q2 to the community pool, promising to communicate further details to the investor community upon completion.
LUNC and USTC Skyrocket
Significant price rises have been witnessed within the Terra Luna Classic ecosystem following these announcements, with LUNC experiencing a 20% surge and USTC an impressive 50% rise in just one week. Trading volumes for both cryptocurrencies have also experienced substantial increases.
As of the last 24 hours, LUNC has seen a price surge of nearly 5%, now trading at $0.000094. Meanwhile, USTC is currently trading at $0.018, marking a 25% increase within the same timeframe. This positive momentum anticipates a continued upward trajectory for these digital assets.