Developers of Cosmos Stacks Provide Assistance For The Revival of Terra Luna Classic (LUNC)

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Last Updated on December 23, 2023 by Bitfinsider

A team of engineers with expertise in Cosmos stacks, Genuine Labs, extended a helping hand to the Terra Luna Classic community, which may have an impact on the resuscitation of LUNC and USTC reg. After finding several problems with Terra Classic, the development team put up a proposal for vote to fix these problems.

Plan 11940 On the community-backed Station wallet for Terra Luna Classic, there is a governance vote over the “Genuine labs Terra Classic Development Proposal.” The group suggests collaborating on the Terra Luna Classic with the L1 teams.

The development team’s first priorities will be completing the integration and enhancement of the Packet Forward Middleware (PFM) and IBC Hooks features, as well as refining the interchain and end-to-end testing of the charge tax charging mechanism. IBC-hooks and PFM have already been deployed on the following branch, according to former L1TF member Fragwuerdig, and Genuine labs might need to repost work proposals.

Dong is a junior developer, Minh is a senior developer, and Nguyen is a senior developer. Among other things, they produced fee abstraction module, worked on core repositories such as Gravity-Bridge, IBC-Go, and Cosmos-SDK, and contributed to Osmosis, Quicksilver, Stride, and Composable.

With a six-week schedule, the team aims to restore the ecosystem of Terra Luna Classic and is seeking $16,000.

97% of community members are in favor, according to the results of the initial vote. But there have also been 1% of “No” votes and 2% of “No with veto” votes cast for the plan. The proposal has also received support from a few validators.

The price of LUNC increased by 3% over the previous day to trade at $0.000161. $0.000153 is the 24-hour low, and $0.000170 is the 24-hour high. Additionally, there has been a 60% spike in trading volume over the past 24 hours, suggesting that traders are becoming more interested.

The price of USTC is currently trading at $0.0361, up 3% over the previous day. In response to several USTC burn plans, the trading volume has grown by 120%.

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