Coin exchange rate
$BTC 62110.69 USD (+2.7%) 🟢$LUNC 0.00008450 USD (+3.5%) 🟢$LUNA 0.38413184 USD (+2.65%) 🟢Vegas Morph, a former Terra Rebels developer group member, has suggested a plan for USTC repeg after recent efforts failed to advance and benefit the Terra Luna Classic community.
In a recent post on Medium, the validator explained the following changes required to safely reactivate the market module. He asserts it will help repeg USTC to the US dollar.
The developer working on repeg needs to integrate an oracle module that provides real-time price feeds for USTC. The burn amount must be set to 20% of the fee, allocate 20% for Oracle Pool, and designate the remaining 60% to a pool to maintain the peg.
In addition, the virtual liquidity pool size should come with limits and introduce multiple pools with conditional activation steps. Developers must impose a hard cap on LUNC and USTC supply, which will address unwanted minting of tokens. Also, there needs to be a kill switch for the module.
RedlineDrifter, member of Quant USTC repeg team, reacted positively to the efforts and asked the Terra Luna Classic community to review it.
Please open Telegram to view this post
VIEW IN TELEGRAM
👍7🔥5😡3🥴2
Terra Luna Classic price lost most of last week’s gains. The price currently trades at $0.00008109, with a 24-hour low and high of $0.00008104 and $0.00008832, respectively. The LUNC trading volume has also decreased by 46% in the last 24 hours. The next resistance is near the $0.00009 level.
Meanwhile, USTC price is trading at $0.01653, down 8% over the last day. The 24-hour low and high are $0.01652 and $0.018, respectively. The price is still up 3% in a week.
Please open Telegram to view this post
VIEW IN TELEGRAM
❤2👍1
Coin exchange rate
$BTC 63099.624 USD (-0.71%) 🔴$LUNC 0.00008449 USD (-4.26%) 🔴$LUNA 0.38817848 USD (-3.14%) 🔴As the $4.5 billion settlement in the legal case against TerraForm Labs obliges the Web3 company to seize its business, the assets in protocols such as Anchor or Mirror are bound to be burned soon. According to popular YouTuber and LUNC validator HappyCatKripto, four known wallets are tied to the Mirror protocol, which holds above 500M tokens.
Paired with the funds on Anchor protocol, the Terra Classic tokens waiting for the incinerator pile up to a hefty 275 billion coins, or roughly $22 million. This potentially opens doors for the most grandiose LUNC burn, with a quarter of a trillion Terra Luna Classic tokens in one go.
“Getting those burns early will really provide the momentum we need,” spills out HappyCatKripto. Naturally, a burn of this magnitude would play out favorably in further coordination with Binance and other exchanges dedicated to the chain’s restoration efforts.
To achieve this, the validator urged the community to migrate Mirror and Anchor protocol contracts to a new code using a governance model similar to Risk Harbor. While both governance proposals are open for voting and discussion, the timeline of this grandiose burn has yet to be decided.
Please open Telegram to view this post
VIEW IN TELEGRAM
🤔1
Coin exchange rate
$BTC 62956.156 USD (-0.23%) 🔴$LUNC 0.00008441 USD (-0.09%) 🔴$LUNA 0.39044728 USD (+0.58%) 🟢🤔1
LUNC News: Terra Luna Classic Burns 726 Million USTC From Anchor Protocol
LUNC News: Over 726 million USTC were burned after the Terra Luna Classic community approved proposal 12135 to burn tokens in Anchor Protocol via contract migration. With Terraform Labs (TFL) cleared to wind down operations by a US bankruptcy court, the community expects billions of LUNC and USTC burns from related projects.
LUNC News: Over 726 million USTC were burned after the Terra Luna Classic community approved proposal 12135 to burn tokens in Anchor Protocol via contract migration. With Terraform Labs (TFL) cleared to wind down operations by a US bankruptcy court, the community expects billions of LUNC and USTC burns from related projects.
👍7😐1
LUNC News: Over 726 Million USTC Burned After Proposal Passes
In the major news for the LUNC community today, more than 726 million USTC were burned through Anchor Protocol contract migration. The burn came after the community approved proposal 12135 to burn tokens in wallets of Terraform Labs-owned Anchor Protocol.
The proposal was passed narrowly by the Terra Luna Classic community with 27.23% votes in favor. Among validators, nearly 25% voted “Yes” and 48% voted “Abstain” including Allnodes. However, 92% of delegators supported the proposal as the tokens belong to the community.
The developer migrated Anchor Protocol contract to a new code via governance similar to Risk Harbor. However, the execution on the Mirror Protocol failed to burn 46 million USTC. The proposal is submitted again, but developer claims to investigate the reasons behind the failed execution.
All Terra Luna Classic assets as stated by TFL CEO Chris Amani and ordered by the court judgment should be burned. TFL will not interact with Columbus-5 or Phoenix-1 chains after October 31. Any token burn or transfer will be difficult post the court-approved date.
In the major news for the LUNC community today, more than 726 million USTC were burned through Anchor Protocol contract migration. The burn came after the community approved proposal 12135 to burn tokens in wallets of Terraform Labs-owned Anchor Protocol.
The proposal was passed narrowly by the Terra Luna Classic community with 27.23% votes in favor. Among validators, nearly 25% voted “Yes” and 48% voted “Abstain” including Allnodes. However, 92% of delegators supported the proposal as the tokens belong to the community.
The developer migrated Anchor Protocol contract to a new code via governance similar to Risk Harbor. However, the execution on the Mirror Protocol failed to burn 46 million USTC. The proposal is submitted again, but developer claims to investigate the reasons behind the failed execution.
All Terra Luna Classic assets as stated by TFL CEO Chris Amani and ordered by the court judgment should be burned. TFL will not interact with Columbus-5 or Phoenix-1 chains after October 31. Any token burn or transfer will be difficult post the court-approved date.
👍4🔥2
Coin exchange rate
$BTC 63550.591 USD (+0.94%) 🟢$LUNC 0.00008493 USD (+0.61%) 🟢$LUNA 0.38372667 USD (-1.72%) 🔴USTC and LUNC Price Jumps
Amid this LUNC news, Terra Luna Classic ecosystem tokens witnessed a slight jump of 2% in the last 4 hours. The tokens also saw a buying activity in derivatives market as futures open interests climbed more than 2% in last few hours.
LUNC price climbed nearly 2% from the 24-hour low, with the price currently trading at $0.0000858. The 24-hour low and high are $0.00008372 and $0.00008631, respectively. However, the trading volume remained low amid the pressure in the broader crypto market.
Meanwhile, USTC price is trading at $0.01798, up 2% in the last 24 hours. The trading volume saw a 37% jump decline in the last 24 hours.
Amid this LUNC news, Terra Luna Classic ecosystem tokens witnessed a slight jump of 2% in the last 4 hours. The tokens also saw a buying activity in derivatives market as futures open interests climbed more than 2% in last few hours.
LUNC price climbed nearly 2% from the 24-hour low, with the price currently trading at $0.0000858. The 24-hour low and high are $0.00008372 and $0.00008631, respectively. However, the trading volume remained low amid the pressure in the broader crypto market.
Meanwhile, USTC price is trading at $0.01798, up 2% in the last 24 hours. The trading volume saw a 37% jump decline in the last 24 hours.
🥴2
Terra Luna Classic Community Passes Key Proposal, LUNC To $0.0003?
The Terra Luna Classic community has unveiled a proposal, that appears to have fueled optimism among market participants. The proposed upgrade aims to correct a major issue that was implemented mistakenly in a previous upgrade. Notably, this proposal has also sparked discussions over its potential impact on LUNC price, after the crypto rallied over 17% last week. But the price has failed to maintain its momentum this week amid a volatile scenario in the broader crypto market.
Despite that, the community seems to be bullish over a potential rally, with community-driven upgrades and the latest security updates and developments.
The Terra Luna Classic community has unveiled a proposal, that appears to have fueled optimism among market participants. The proposed upgrade aims to correct a major issue that was implemented mistakenly in a previous upgrade. Notably, this proposal has also sparked discussions over its potential impact on LUNC price, after the crypto rallied over 17% last week. But the price has failed to maintain its momentum this week amid a volatile scenario in the broader crypto market.
Despite that, the community seems to be bullish over a potential rally, with community-driven upgrades and the latest security updates and developments.
🔥3🥱3🥴1
Terra Luna Classic Proposal Sparks Community Interest
The Terra Luna Classic community has revealed a major proposal aiming towards a vital correction. It would address a prior upgrade error that could significantly impact the future of the Terra ecosystem.
The latest Terra proposal, dubbed Proposal 12133, is primarily focused on correcting the number of validators allowed on the network. In the previous upgrade, which was mistakenly changed in a recent SDK update. Notably, the current upgrade aims to fix this issue by restoring the maximum number of validators to 110, ensuring the stability of the ecosystem.
According to the revelation, the error stemmed from a module in 12125, which mistakenly outdated code during the SDK upgrade. However, community members are rallying now to support the correction, with 63.81% of votes already cast for a “yes”. Notably, the voting on the proposal, which was submitted on September 13, will end in two days.
Meanwhile, the latest ecosystem developments like the Tax2Gas upgrade also have boosted the community sentiment. In addition, other recent developments aimed at bolstering the security and efficacy of the ecosystem have also gained attention from market watchers, supporting a much-anticipated rally for the LUNC token.
The Terra Luna Classic community has revealed a major proposal aiming towards a vital correction. It would address a prior upgrade error that could significantly impact the future of the Terra ecosystem.
The latest Terra proposal, dubbed Proposal 12133, is primarily focused on correcting the number of validators allowed on the network. In the previous upgrade, which was mistakenly changed in a recent SDK update. Notably, the current upgrade aims to fix this issue by restoring the maximum number of validators to 110, ensuring the stability of the ecosystem.
According to the revelation, the error stemmed from a module in 12125, which mistakenly outdated code during the SDK upgrade. However, community members are rallying now to support the correction, with 63.81% of votes already cast for a “yes”. Notably, the voting on the proposal, which was submitted on September 13, will end in two days.
Meanwhile, the latest ecosystem developments like the Tax2Gas upgrade also have boosted the community sentiment. In addition, other recent developments aimed at bolstering the security and efficacy of the ecosystem have also gained attention from market watchers, supporting a much-anticipated rally for the LUNC token.
🥱5👍2
Coin exchange rate
$BTC 63548.336 USD (-0.0%) 🔴$LUNC 0.00008593 USD (+1.18%) 🟢$LUNA 0.38677422 USD (+0.87%) 🟢👀1
LUNC Price Rally To $0.0003 Imminent?
The Terra Luna Classic price was up about only 1% today and exchanged hands at $0.00008175 during writing, after rallying over 17% in the prior week. Its trading volume also noted a slump of 38% in the last 24 hours to $11.36 million.
However, a recent LUNC price analysis hints at a potential rally for the crypto to $0.0003, if it breaks the certain resistance levels ahead. Notably, the optimism stems from the Terraform Labs Chapter 11 bankruptcy upgrade, which appears to have bolstered the community sentiment lately.
Meanwhile, the LUNA price was up over 2% during writing and exchanged hands at $0.3819. The crypto has touched a 24-hour high and low of $0.3832 and $0.3684, respectively, with its trading volume declining 32% to $27.66 million.
The Terra Luna Classic price was up about only 1% today and exchanged hands at $0.00008175 during writing, after rallying over 17% in the prior week. Its trading volume also noted a slump of 38% in the last 24 hours to $11.36 million.
However, a recent LUNC price analysis hints at a potential rally for the crypto to $0.0003, if it breaks the certain resistance levels ahead. Notably, the optimism stems from the Terraform Labs Chapter 11 bankruptcy upgrade, which appears to have bolstered the community sentiment lately.
Meanwhile, the LUNA price was up over 2% during writing and exchanged hands at $0.3819. The crypto has touched a 24-hour high and low of $0.3832 and $0.3684, respectively, with its trading volume declining 32% to $27.66 million.
✍2👍1🤡1
LUNC News: Terra Luna Classic Upgrade Goes Live, Binance Announces Support
LUNC News: Terra Luna Classic successfully completed the v3.1.5 upgrade offering improvements including a critical security fix for wasmd, improved transaction efficiency, and preparedness for Tax2Gas implementation. The world’s largest crypto exchange Binance expressed support for the Terra Luna Classic security upgrade.
LUNC News: Terra Luna Classic Completes v3.1.5 Upgrade
Terra Luna Classic developers successfully applied the wasmd security patch included in the v3.1.5 upgrade on September 18. The chain was halted at block height 19850000 for applying the terrad client release pull request. The upgrade was started at 11:26:59 UTC, with the block proposed by validator Interstellar Lounge. This was the quickest upgrade of the chain.
The Terra Classic upgrade bumps wasmd to 0.46 and wasmvm to 1.5.4. This update also includes the changes from v3.1.4. The previous version v3.1.4 containing a fix for gas estimation of taxable transactions was only released to endpoint providers as it did not contain consensus-relevant changes.
Binance announced support for the Terra Luna Classic upgrade. The exchange suspended the deposits and withdrawals of Terra Classic ecosystem tokens to support its network upgrade and ensure the best user experience. Notably, Binance burns billions of LUNC tokens monthly to support the community’s campaign to revive LUNC.
Binance, one of the best crypto exchanges, has burned 64.47 billion LUNC tokens in the last two years. This accounts for 48.5% of the total tokens burned by the community.
LUNC News: Terra Luna Classic successfully completed the v3.1.5 upgrade offering improvements including a critical security fix for wasmd, improved transaction efficiency, and preparedness for Tax2Gas implementation. The world’s largest crypto exchange Binance expressed support for the Terra Luna Classic security upgrade.
LUNC News: Terra Luna Classic Completes v3.1.5 Upgrade
Terra Luna Classic developers successfully applied the wasmd security patch included in the v3.1.5 upgrade on September 18. The chain was halted at block height 19850000 for applying the terrad client release pull request. The upgrade was started at 11:26:59 UTC, with the block proposed by validator Interstellar Lounge. This was the quickest upgrade of the chain.
The Terra Classic upgrade bumps wasmd to 0.46 and wasmvm to 1.5.4. This update also includes the changes from v3.1.4. The previous version v3.1.4 containing a fix for gas estimation of taxable transactions was only released to endpoint providers as it did not contain consensus-relevant changes.
Binance announced support for the Terra Luna Classic upgrade. The exchange suspended the deposits and withdrawals of Terra Classic ecosystem tokens to support its network upgrade and ensure the best user experience. Notably, Binance burns billions of LUNC tokens monthly to support the community’s campaign to revive LUNC.
Binance, one of the best crypto exchanges, has burned 64.47 billion LUNC tokens in the last two years. This accounts for 48.5% of the total tokens burned by the community.
❤1👍1
LUNC and USTC Prices Fell On Wider Market Sentiment
Despite the positive news, LUNC price lost most of today’s gains, with the price now down 1.74% in the last 24 hours. The 24-hour low and high are $0.00007942 and $0.00008332, respectively. The LUNC trading volume saw a 25% increase in the last 24 hours, indicating interest among traders.
Meanwhile, USTC price is trading at $0.01645, down 1% in the last 24 hours and 8% in a week. The 24-hour low and high are $0.01633 and $0.01711, respectively. The USTC futures open interests are down 3.35% in the past 24 hours and 0.84% in the past hour.
Despite the positive news, LUNC price lost most of today’s gains, with the price now down 1.74% in the last 24 hours. The 24-hour low and high are $0.00007942 and $0.00008332, respectively. The LUNC trading volume saw a 25% increase in the last 24 hours, indicating interest among traders.
Meanwhile, USTC price is trading at $0.01645, down 1% in the last 24 hours and 8% in a week. The 24-hour low and high are $0.01633 and $0.01711, respectively. The USTC futures open interests are down 3.35% in the past 24 hours and 0.84% in the past hour.
🥱6🥴2🔥1
Coin exchange rate
$BTC 63843.452 USD (+0.46%) 🟢$LUNC 0.00008728 USD (+1.57%) 🟢$LUNA 0.39190703 USD (+1.36%) 🟢👍2🥴2
Crypto exchange Binance performed LUNC burn mechanism multiple times this month, sparking speculation in the Terra Luna Classic community. The exchange is the largest contributor, with 64.47 billion LUNC burned until now to support the revival of chain and price.
Please open Telegram to view this post
VIEW IN TELEGRAM
Has Binance LUNC Burn Mechanism Revised?
Binance LUNC burn data indicates that the crypto exchange has likely revised its LUNC burn mechanism, increasing the number of burns monthly. According to an earlier announcement, the exchange burns Terra Luna Classic tokens on the first of every month. However, the exchange burned the tokens six times this month.
This has sparked speculations as Binance had earlier reduced its Terra Luna Classic spot and margin trading fees to 50% instead of 100%. It even delayed sending the Terra Luna Classic trading fee burn contribution for months. However, the exchange is burning more tokens this time.
Binance burned 1.19 billion LUNC tokens in the 25th batch of the LUNC burn mechanism, the crypto exchange burned $97,229.23 in trading fees for the period between July 31 to August 29.
In addition to the main burn, the exchange burned 199,389 LUNC tokens in five transactions until now. Some Terra Luna Classic members believe the exchange has changed the way it has burned the tokens.
Binance LUNC burn data indicates that the crypto exchange has likely revised its LUNC burn mechanism, increasing the number of burns monthly. According to an earlier announcement, the exchange burns Terra Luna Classic tokens on the first of every month. However, the exchange burned the tokens six times this month.
This has sparked speculations as Binance had earlier reduced its Terra Luna Classic spot and margin trading fees to 50% instead of 100%. It even delayed sending the Terra Luna Classic trading fee burn contribution for months. However, the exchange is burning more tokens this time.
Binance burned 1.19 billion LUNC tokens in the 25th batch of the LUNC burn mechanism, the crypto exchange burned $97,229.23 in trading fees for the period between July 31 to August 29.
In addition to the main burn, the exchange burned 199,389 LUNC tokens in five transactions until now. Some Terra Luna Classic members believe the exchange has changed the way it has burned the tokens.
👍7
Terra Luna Classic Ecosystem Tokens Jump
LUNC price climbed 3% in the last 24 hours and 7% in a week, with the price currently trading at $0.00008557. The 24-hour high and low are $0.00008188 and $0.00008622, respectively. Moreover, the trading volume has increased by 16% in the past 24 hours, indicating a rise in interest among traders.
Coinglass data indicate 1000LUNC open interest on Binance and Bybit has jumped more than 5% in the past 24 hours. This indicates that derivatives traders are actively buying the crypto.
Meanwhile, USTC price climbed more than 2%, with the price now trading at $0.0177. Moreover, the trading volume saw a 72% rise in the last 24 hours. Traders are buying the dip, with an increase of 9% in a week.
LUNC price climbed 3% in the last 24 hours and 7% in a week, with the price currently trading at $0.00008557. The 24-hour high and low are $0.00008188 and $0.00008622, respectively. Moreover, the trading volume has increased by 16% in the past 24 hours, indicating a rise in interest among traders.
Coinglass data indicate 1000LUNC open interest on Binance and Bybit has jumped more than 5% in the past 24 hours. This indicates that derivatives traders are actively buying the crypto.
Meanwhile, USTC price climbed more than 2%, with the price now trading at $0.0177. Moreover, the trading volume saw a 72% rise in the last 24 hours. Traders are buying the dip, with an increase of 9% in a week.
🥱3🌭3👍1🌚1