The LUNC community is eagerly anticipating the Terra Classic parity upgrade mainnet 2.1.0, scheduled for June 14, 2023.
Alongside this development, Terra Luna Classic (LUNC) has experienced a resurgence in the crypto charts, with a 10.9% gain in the last 24 hours. However, the price of $USTC, the stablecoin associated with Terra Classic, has not seen a similar increase.
The upcoming parity upgrade will ensure full compatibility between the original Terra Classic network and all Cosmos-based blockchains, including Terra 2.0.
This comes at a time when the LUNC community is actively testing options to address issues with the malfunctioning Terra Classic USD (USTC) stablecoin repeg.
Additionally, the highly-anticipated LUNC AI app chain, developed by Drexel University Professor Edward Kim, is preparing for its beta launch.
The Layer-1 Joint Task Force (L1JTF), leading a community campaign, proposed the creation of a staking vault for USTC through a gradual repeg strategy, utilizing a liquidity pool between LUNC and USTC.
Recently, a burn tax increase to 0.5% was approved by major crypto exchanges, Binance and KuCoin. These initiatives, coupled with the clear roadmap for the $124,000 engineer funding received by the L1JTF developer team, have generated significant enthusiasm within the LUNC community.
Excitement among community members has been further amplified by the remarkable staking achievements of Terra Luna Classic (LUNC).
Staking has now exceeded 1 trillion LUNC, reaching an all-time high and boasting an impressive staking ratio of 14.6%.
