Terra Classic (LUNC) Triumph: Unanimous Support for IBC Restoration Signals Revival
2 mins read

Terra Classic (LUNC) Triumph: Unanimous Support for IBC Restoration Signals Revival

  • The Terra Luna Classic community unanimously approves Proposal 12099, restoring the crucial Inter-Blockchain Communication (IBC) link between Terra Classic and Kujira chains by upgrading the client from 07-tendermint-178 to 07-tendermint-246, enhancing liquidity and unfreezing frozen funds.
  • Additionally, stakeholders remain vigilant against security threats, implementing measures like reducing MaxBlockSize from 5mb to 2mb to counter peer-to-peer storm attacks, while LUNC and USTC prices demonstrate resilience and upward momentum in the market.

The Terra Luna Classic (LUNC) community has marked a significant milestone with the approval of Proposal 12099, “Restore IBC to Kujira.” This pivotal decision signals a resurgence in connectivity as it greenlights the upgrade of the Inter-Blockchain Communication (IBC) client between Terra Classic and Kujira chains.

The proposal, championed by the RakoffToken team, seeks to transition from the outdated 07-tendermint-178 to the more efficient 07-tendermint-246. This upgrade is poised to breathe new life into Terra Classic’s liquidity ecosystem by unfreezing dormant funds and reinvigorating inter-chain transactions.

Terra Classic Proposal To Restore IBC to Kujira Approved

With overwhelming support, the Terra Luna Classic community has rallied behind Proposal 12099, endorsing a seamless transition towards enhanced connectivity. The unanimous backing, echoed by validators and stakeholders, underscores the collective commitment to revitalizing Terra Classic’s infrastructure.

The transition to IBC client 07-tendermint-246 not only restores the link between Terra Classic and Kujira but also serves as a testament to the community’s resilience and collaborative spirit. This decisive step forward sets the stage for a more robust and interconnected ecosystem.

Addressing Security Concerns: A Holistic Approach

While celebrating this triumph, the community remains vigilant against potential threats. In light of recent peer-to-peer storm attacks, Genuine Labs has proposed a proactive measure to mitigate risks. By reducing MaxBlockSize from 5mb to 2mb, stakeholders aim to fortify the network’s defenses and safeguard against malicious activities.

LUNC and USTC Prices Performance

Amidst these developments, LUNC demonstrates resilience in the market, with a 1% surge in the past 24 hours and a notable 6% uptick over the week. Currently trading at $0.0001112, LUNC’s trajectory inspires confidence, with community members harboring bullish sentiments towards a projected $1 valuation.

Similarly, USTC exhibits promising growth, ascending by 1% following a remarkable 20% surge the previous week. Priced at $0.0200, USTC maintains a steady ascent, reflecting investor enthusiasm and a positive market outlook.

The approval of Proposal 12099 marks a defining moment for the Terra Luna Classic community, signifying a steadfast commitment to innovation and progress. As Terra Classic embarks on this transformative journey, stakeholders are poised to harness newfound connectivity and liquidity, propelling the ecosystem towards greater heights of success and resilience.