LUNC News: Terra Classic Community Passes Four Monumental Burn and Staking Proposals | Coingape

Four proposals related to increasing burn tax, LUNC burn, and staking were passed by the Terra Classic community. The proposals outline key changes including raising the LUNC burn tax to 0.5%, rewarding people for staking, whitelisting Dapps contracts, and increasing community pool funding.

Timeline of Terra-luna

Terra Classic new project DFLunc, gaining popularity for its massive LUNC burn mechanism, has burned almost 2 billion LUNC tokens in two weeks. The DeFi protocol was launched in April to deflate LUNC circulating supply more rapidly by burning billions of tokens.

After denying many proposals related to raising LUNC burn and burn tax, the Terra Luna Classic community finally decided to increase the LUNC burn tax. The move came as LUNC price fell below $0.000010 last week, reaching levels of last May when TerraUSD (UST) and LUNA prices collapsed drastically.

The Proposal for v2.0.1 Upgrade submitted by Terra Classic core developer Joint L1 Task Force (L1TF) has passed the threshold limit. This is a major upgrade on the LUNC blockchain, along with Cosmwasm v1.1.0 upgrade (parity) on May 31 to allow projects and builders across Cosmos and Terra (LUNA) to build on the Terra Classic chain.

It's been a year of the most dreadful events in the crypto space, wherein the Terra ecosystem collapsed, bringing the value of its token from its highs to almost zero. Since then, many efforts have been carried out to revive the ecosystem, with the creation of Terra (LUNA) being the most prominent one.

LUNC Price Analysis: Under the influence of a downsloping trendline, the LUNC price has witnessed an aggressive fall over the past three months. From the peak of $0.000208, this downfall tumbled the coin price 61.7% to hit the $0.00008 psychological support.

Terra Classic core developer Joint L1 Task Force (L1TF) submitted Proposal 11511 for governance voting to upgrade the Terra Classic network to v2.0.1. This is a major upgrade on the LUNC blockchain, along with Cosmwasm v1.1.0 upgrade (parity) on May 31 to allow projects and builders across Cosmos and Terra (LUNA) to build on the Terra

Terra Luna Classic (LUNC) started a bullish momentum four days after its testnet upgrade. The asset's Twitter community believes that the current price point might be the bottom for LUNC.

Recently, the Terra Classic ecosystem has been in the spotlight due to its developmental efforts, with the testnet upgrade to version 2.0.0 being the latest advancement. Contrary to general expectations, this recent improvement hasn't translated into the price of the Terra Luna Classic token (LUNC).

In a significant advancement for the Terra Classic blockchain, the L1 Joint Task Force (L1JTF) team has upgraded its testnet to version 2.0.0. The recent development may increase the price of LUNC, as network developments imply the presence of an active team.

Terra Classic (LUNC) developer group Joint L1 Task Force has successfully upgraded the rebel-2 testnet to v2.0.0 with Cosmos SDK v0.45. This is a major accomplishment for the Terra Classic community as core developers plan the Cosmwasm v1.1.0 upgrade (parity) on May 31 to allow projects and builders across Cosmos and Terra Luna 2.0 to