LUNC News: Terra Luna Classic core developer group Joint L1 Task Force (L1TF) reports its Q2 status update, ongoing work and plans as the developer group prepares to shift focus to reducing circulating supply of LUNC and USTC in Q3. The community pool has also started topping up after dropping to a low level, bringing some relief.
Meanwhile, some community members claim that validators stopped contributing to the LUNC burn campaign after Binance reinstated its LUNC burn mechanism in March.
Joint L1 task force reports Q2 status report and work in progress
Terra Luna Classic L1TF project manager LuncBurnArmy taken took to Twitter on July 10 and revealed a status update for tasks from June 26 to July 11. He said the developer team will focus on upgrading Astroport’s smart contract in the next Sprint #8 before moving onto the Q3 roadmap.
“A separate update will be provided at the end of the quarter in which the items falling within the scope of the second quarter will be assessed as their completion status at the end of the quarter.”
Meanwhile, the L1TF is working to stabilize things impacted by the CosmWasm Parity upgrade, which saw major changes to the chain last month. Also, Terraform Labs (TFL) has a merged pull request, allowing the community to switch between LUNC and USTC using TerraSwap using TFL Station.
LITF is currently working on Burntax split to the distribution module, dApp whitelisting, upgrading the contracts using a MigrateContractProposal, and supporting the Quant team for USTC-repeg.
In addition, LuncBurnArmy will return any unused funds to the community pool. The Terra Luna Classic communal pool is even being filled again and is above 525 million LUNC again.
Also Read: Terra Luna Classic L1TF takes ownership of community owned station wallet infrastructure
Will Validator Burns Return News Pump LUNC Price
The community expressed concern about the reduction in LUNC burns from validators in recent months. LUNC burn is only contributed by DFLunc, TerraCasino and Cremation Coin, missing key validators in action.
Stylish Crypto goals to burn the 100% commission from Classy’s Sphere validator until the end of 2023 to bring back the validators LUNC fire story. Edward Kim’s Block Entropy Testnet also aims to increase LUNC burn.
LUNC price is currently trading at $0.000081, with the 24-hour low and high at $0.0000805 and $0.0000827, respectively.
Also Read: Bitcoin, Ethereum, USDT Trading Discounted on BinanceUS, Arbitrage Opportunity or Trap?
Varinder has 10 years of experience in the Fintech sector, with more than 5 years dedicated to blockchain, crypto and Web3 developments. A technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in more than 5,000 news stories, articles and newspapers. With CoinGape Media, Varinder believes in the enormous potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.
The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication is not responsible for your personal financial loss.
This post Terra Luna Classic L1TF Reveals Plan; Validator Burns to Revive LUNC to $1?
was published first on https://coingape.com/lunc-news-terra-luna-classic-l1tf-reveals-plan-validator-burns-to-revive-lunc-to-1/