LUNC - Optimisus

Terra Luna Classic (LUNC) community is taking steps to restore 800 million malfunctioning stablecoin Terra Classic USD (USTC).

2 months ago 2 mins read

800 Million USTC Burn: How LUNC Community Addresses Kwon’s Missteps

The embattled Terra Luna Classic (LUNC) community is taking steps to restore 800 million malfunctioning stablecoin Terra Classic USD (USTC). The colossal amount of USTC was initially sent to Ozone Protocol by Do Kwon, the controversial founder of Terra blockchain. In an effort to rectify the situation, a community member named Vegas Morph has presented a governance proposal, urging the LUNC community to vote on returning the funds to the Terra community pool. In a Medium post titled “Return 800 million USTC, Now,” Vegas Morph outlines the reasons behind the proposal and calls for action from the LUNC community. If

Binance crypto exchange has completed its 11th burn round

3 months ago 2 mins read

Binance Burns 2.65 Billion LUNC Tokens in 11th Round, Price Sees 3% Increase

Binance, the world’s leading cryptocurrency exchange, has completed its 11th burn round, destroying a total of 2.65 billion Terra Classic (LUNC) tokens. This latest burn brings the cumulative number of LUNC tokens burned by Binance to over 35.5 billion, with the community’s burn reaching an impressive 68 billion. The burn event has received positive feedback from traders, as the price of LUNC experienced a 3% increase. The burn took place on July 1, when Binance executed a transaction transferring 2.65 billion LUNC tokens to the burn address, effectively reducing the circulating supply. The transaction also incurred a transaction fee of

Terra Luna Classic's L1 Task Force Proposes Community-Owned Wallet with L2 Team

3 months ago 1 min read

Terra Luna Classic’s Joint L1 Task Force Proposes Community-Owned Wallet with L2 Team Integration

The Terra Luna Classic core developer group, Joint L1 Task Force (L1TF), has recently submitted a proposal on Commonwealth, outlining their plan to build a community-owned wallet. Currently, Terra Classic utilizes L2 wallet dApp providers like TFL (Station), Keplr, and Trust Wallet, among others. However, none of these providers are owned by the community, as they are forked versions of Station Wallet owned by individual groups. According to the proposal, the L1TF intends to develop a web version of Station, as well as mobile apps for iOS and Android. Additionally, a Chrome browser extension will be created. These efforts aim

3 months ago 1 min read

Do Kwon Sentenced to 4 Months in Jail for Document Forgery

Do Kwon, the founder of Terraform Labs, has been sentenced to four months in jail by a Montenegro court for his involvement in a document forgery case. The verdict, announced on Monday by a Basic Court in Podgorica, also confirmed the confiscation of several falsified passports and identity cards. Details of the Case Kwon and Han were detained in Montenegro on charges of possessing forged documents. The court’s verdict included the seizure of two Costa Rican passports, two Belgian passports, and two identity cards linked to the accused individuals. The four-month sentence takes into account the time already spent in

South Korea's Extradition Bid Keeps Terra Luna Founder Do Kwon Behind Bars

4 months ago 2 mins read

Terra Luna Founder Do Kwon Remains in Custody as South Korea Pursues Extradition

A Montenegro court has granted an extension of Do Kwon’s custody for an additional six months, according to reports from Radio Free Europe. The decision was made as the court considers South Korea’s extradition request. Kwon’s arrest in late March stemmed from allegations of using forged travel documents. The judge of the Higher Court in Montenegro stated that the six-month detention was warranted due to the ongoing extradition case requested by South Korea. In a recent development, the same Montenegro court that extended Kwon’s custody had previously approved his bail request in a document forgery case. This decision marks a

The LUNC community is eagerly anticipating the Terra Classic parity upgrade

4 months ago 1 min read

Terra Luna Classic Surpasses 1 Trillion $LUNC Staked as Terra Parity Approaches Completion

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

A branch of the Podgorica District Court in Montenegro has approved a second bail request for Do Kwon

4 months ago 2 mins read

Terraform Labs Founder Do Kwon Granted a Second Bail in Montenegro

A branch of the Podgorica District Court in Montenegro has approved a second bail request for Do Kwon, the founder, and CEO of Terraform Labs. Kwon and Terra’s former chief financial officer Han Chang-joon were originally granted bail in May for a combined sum of around $856,000. They were released on condition that they did not leave their apartment and continued to attend hearings. However, Montenegro prosecutors appealed the decision at the High Court, and their motion was upheld, with Kwon and Han being taken into custody for a second time. Kwon has since hired the world’s biggest law firm,

4 months ago 1 min read

Terra Classic Token (LUNC) Soars 28.59% in Just 24 Hours

Terra Classic (LUNC), the original chain of the Terra (LUNA) ecosystem, has witnessed a substantial surge in value, offering a glimmer of hope in a period dominated by bearish sentiment. This article explores the recent surge in LUNC’s price and the initiatives undertaken by the LUNC community to enhance the network’s utility. Additionally, it delves into the upcoming v2.1.0 upgrade proposal, which has garnered significant attention and is expected to further strengthen the Terra Classic blockchain. Key Points:

A group of developers working on the Terra Classic blockchain

4 months ago 1 min read

Terra Classic Developers Push Back V2.1.0 Upgrade

The L1 Joint Task Force (L1JTF), a group of developers working on the Terra Classic blockchain, has announced that the v2.1.0 upgrade will be delayed from May 31 to June 14. The delay is due to the need for additional testing. The v2.1.0 upgrade is a major update that will introduce a number of new features to Terra Classic, including: The L1JTF team has been working hard on the v2.1.0 upgrade and is confident that it will be a major improvement for Terra Classic. However, the team also wants to make sure that the upgrade is thoroughly tested before it