The Terra Classic network is set to undergo a major upgrade on June 14th, 2023, which will enhance compatibility with Cosmos-based blockchains.
The upgrade, known as the Terra Classic parity upgrade (mainnet 2.1.0), will ensure full compatibility with all Cosmos-based blockchains, including Terra 2.0.
The LUNC community is eagerly anticipating the upgrade, as it opens up new possibilities for seamless interactions with other blockchain networks.
The upgrade is also expected to boost the adoption of Terra Classic, as it makes it easier for developers to build applications on the network.
In addition to the parity upgrade, the LUNC community is also excited about the recent rebound in the price of LUNC. In the last 24 hours alone, LUNC has recorded a remarkable 10.9% gain.
This rally has been driven by a number of factors, including the upcoming parity upgrade, the launch of the LUNC AI app chain, and the approval of a burn tax increase to 0.5% by major crypto exchanges Binance and KuCoin.
While the LUNC community is optimistic about the future, there are still some concerns about the stability of the USTC stablecoin.
USTC is a rebranded version of the TerraUSD (UST) stablecoin, which lost its peg to the US dollar in May 2022. The LUNC community is working on a number of proposals to restore stability to USTC, including the creation of a staking vault and the approval of a burn tax increase.