Terra Classic Announces Major Upgrades, LUNC Price To Hit $1?

This will be a major boost for the community’s plan related to LUNC and USTC revival. The community looks for a short-term target of $0.0005 and a long-term target of $1.

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Terra Classic Network To Undergo Major Upgrades

After core developers professor Edward Kim and Tobias “Zaradar” Anderson left the Joint L1 Task Force developer group, the community speculates whether the new developer team can pull off the responsibilities of Terra Classic and meet targets.

Joint L1 Task Force project manager LuncBurnArmy in a medium post on April 29 revealed the updated timeline for the Q2 roadmap and milestones.

The developer team targets the v2.0.0 mainnet network upgrade on May 17. A proposal will be published on agora for voting to complete the upgrade on time. While only a few validators have agreed to join the testnet, the developer team plans to conduct the Cosmos SDK upgrade and Tendermint upgrade the Rebel-2 testnet.

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Key Q2 deliverables for Q2 include Cosmos SDK v0.45.11, Tendermint v0.34.24, Cosmwasm 1.1.0 (Parity), IBC to Kujira, Cross-chain liquidity assessment, and Tendermint to Comet BFT Assessment. The developments will be finished within the budget and surplus funds will be returned to the community pool at the end of the quarter.

The Cosmwasm 1.1.0 Parity upgrade is targeted on May 31. It will bring back utility to the Terra Classic network by allowing projects and builders across Cosmos and Terra Luna 2.0 to once again build on the Terra Classic chain.

“Due to the Senior Cosmos developer starting ~2 weeks into the quarter, as well as Superman not returning until the same time, we should be positioned to finish the quarter under budget.”

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LUNC and USTC Price To Hit $1?

LUNC price is up 2% in the last 24 hours, with the price currently trading at $0.000111. Meanwhile, USTC jumped 10% in the last 24 hours to $0.0213.

The latest upside momentum came as the Terra Classic community votes on a proposal to repeg USTC stablecoin to $1. However, major validators have opposed the proposal due to terms for the repeg.

The community needs to work continuously for many months in order to revive LUNC and USTC to $1. The developments are still in the early phase as per the Terra Classic Revival Roadmap.

Also Read: Bitcoin Price To Hit $35000 As First Republic Starts Second Wave Of Banking Crisis

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