- The Tier 1 Task Force recently received $124,000 in funding for a Level 1 update.
- The community recently voted on a motion to repeal the crippled USTC designation.
- Terra Luna Classic (LUNC) fell 1.2% after the announcement of support.
Binance is the world’s leading cryptocurrency trading platform announce Terra Luna Classic network upgrade support. This comes just one day after Proposition 11511 was officially passed. Submitted by volunteers from the Layer-2 Task Force, the proposal aims to bring Terra Luna Classic (LUNC) even with the forked version of Terra Network 2.0 and all other Cosmos-based crypto projects.
According to the proposal, this means that Terra Luna Classic The blockchain will support the same dApps as Luna 2.0. The critical upgrade of the network will occur at an altitude of 12812900 today. It is worth noting that leading cryptocurrency exchange Binance will halt LUNC USD deposits and withdrawals until the network upgrade is deemed successful.
Several proposals have been passed to help combat LUNC
Besides Proposal #11511, the broad LUNC community has some other significant developments that could lead to a brighter future for cryptocurrency. First, a 0.5% cremation tax proposal was passed. Tax Burn Proposal #11515 focuses on reducing the circulation of LUNC coins.
Secondly, LUNC recently passed the Terra Classic USD coin (USTC) Suggestion of reconnection, which revolves around creating a staking store to re-peg a broken stablecoin. at the time of publication, Faulty stablecoin The USTC trades for less than two cents on the dollar.
On the other hand, the LUNC Index rose by 3.5% on the daily charts, while it was mostly competitive alternative currencies In red color. At the time of publication, it is the #83 ranked LUNC in dollars At $0.00009212according Queen Gekko.
on the flip side
- Binance received a lot of criticism in the Twitter thread for this move. some Crypto Dealers He argues that Binance supports “old scams,” while ignoring new projects that are equally beneficial.
Why should you bother
Binance’s support for the Terra network can help many disgruntled investors gain clarity.
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