- Terra Luna Classic v2.2.1 core upgrade, initiated at block height 14514000, spans hours before completion.
- Following the upgrade, LUNC token prices experience a near 4% rise, amidst a lukewarm crypto market recovery.
Unveiling the Upgrades
The blockchain universe watched attentively as the L1 Terra Classic Task Force (L1TF) initiated the v2.2.1 core upgrade for Terra Luna Classic chain. While the upgrade commenced promptly at 10:15 UTC on September 12, it didn’t mirror the swiftness of June’s v2.1.1 upgrade, which was completed in a matter of hours.
🚀 Terra Luna Classic Upgrade Alert! 🌌✨#TerraLuna Classic's v2.2.1 core upgrade is LIVE! 🎉 After hours of hard work, the L1 #TerraClassic Task Force (L1TF) developer group has successfully implemented major changes. 🔄💎#LUNC and #USTC prices are on the rise! 🚀📈 pic.twitter.com/AOzHUw2ShJ
— Collin Brown (@CollinBrownXRP) September 12, 2023
What’s New in v2.2.1?
Designed to amplify the chain’s capabilities, the upgrade was more than just a software patch. Encompassing a new cosmos SDK and migration of tendermint to CometBFT, the modification also saw the integration of IBC-go to its sixth version and a few wasmd versions. Moreover, governance votes paved the way for pivotal changes, such as dividing the burn tax for the distribution module.
Post-upgrade, observers noted the slow rejuvenation of the Terra Classic chain. As per AtomScan data, the chain’s metrics like blocks and inflation are displaying correctly. However, staked LUNC data is still in limbo.
For the upgrade’s smooth rollout, validators and node operators embarked on the v2.2.1 adaptation. As hours progressed, PFC emerged as the first validator to spring back, with others gradually following suit. But the community remains on the edge, awaiting L1TF’s disclosure on upgrade intricacies and potential hiccups.
Concerns have emerged as integral parts of the Terra Classic ecosystem, including the Terra Classic Station, wallet, and Finder, hit a temporary shutdown. Stakeholders are now looking at Hexxagon and L1TF for insights on the v2.2.1 upgrade.
Adding to the optimism is the support pledged by prominent crypto exchange Binance and several other platforms for the Terra Luna Classic network upgrade.
Market Response: LUNC and USTC’s Upswing
In the trading sphere, LUNC and USTC tokens of Terra Luna Classic experienced an uptick post-upgrade. LUNC saw nearly a 4% increase, navigating at around $0.000057, while USTC exhibited a 3% rise, trading at about $0.012. These shifts, albeit modest, signaled the market’s positive reception, even if the trading volume stayed tepid.
