Terra Classic (LUNC) is preparing for a major upgrade, as the core developer L1TF has decided to transform the previously approved Proposal 11890 into an upgrade proposal. This upgrade, titled “Upgrade to v2.3.2 (Sequence Mismatch Issue Resolution),” is currently in the voting phase and has received 100% support from the community. The goal of this proposal is to implement the terrad client v2.3.2 on-chain in order to address a critical sequence mismatch issue that has been affecting some validators during dyncomm commission edits. The decision to transform the proposal into an upgrade proposal was made after discussions and feedback from validators.
The upgrade process will be simplified for validators as the chain will automatically halt, allowing for a smooth upgrade for validators and node operators. The chain is scheduled to halt at block 15751600, which is estimated to occur on December 8 at 1:18 PM. The dyncomm module, introduced in terrad client v2.3.0, has integrated protocol logic for determining minimum validator commissions based on voting power. However, a crucial problem related to sequence mismatches impacting certain validators during commission edits was discovered, which hindered specific accounts from engaging with the chain.
With 100% support from the Terra Classic community, the upgrade stands to resolve this critical issue. In addition to the upgrade, the LUNC and USTC tokens have experienced significant price surges in recent weeks. LUNC is up 78.17% in the last month, trading at $0.0001172, while USTC has surged 319.17% to its current price of $0.05115. These price surges, along with the upcoming upgrade and ongoing efforts by the community, suggest promising prospects for the Terra Classic ecosystem.
It seems that the Terra Classic ecosystem is poised for continued growth and development. If the active development of the ecosystem is maintained by the community and developers, it is possible that we may see even greater price surges for the ecosystem’s tokens in the future.