LUNC Will Rise Again? LUNC Main 'Developer' Announcement Gives New Hope

<p>&nbsp;The lead developer of the Terra Luna Classic, the L1 Terra Classic Task Force (L1TF), has shared an update on progress and direction to focus on reducing USTC and LUNC tethering on K3. The developer group is preparing a major update v2.2.0 to make several improvements in the Terra Luna Classic blockchain while solving problems and ensuring stability.</p><p><br /></p><p>The L1 Terra Classic Task Force (L1TF) lead developer, Vinh Nguyen, on August 9 announced sprint report #1 and preparations for the big v2.2.0 update.</p><p><br /></p><p>According to a report published on the Commonwealth forum, the sprint is now open source and the community can check real-time updates on additional tasks and jobs completed by the developer group. In the last few days, L1TF has been implementing changes according to the proposals agreed by the community, fixing the problems faced by DApps.</p><p><br /></p><p><br /></p><p>In Sprint #2, L1TF prepares v2.2.0 update, which consists of Cosmos SDK v46, CometBFT migration, and IBC – go v6. This aims to address many problems in the chain and ensure stability.</p><p><br /></p><p>After LuncBurnArmy and Frag withdrew from L1TF, the latest tasks were led by Vinh, Inon Man, Xi, and Gevik. The community welcomed the efforts given by the developers to revive LUNC and USTC.</p><p><br /></p><p>LUNC prices dropped to support levels due to a lack of momentum and activity in the group as developers focused on the USTC peg. Additionally, the community has approved two proposals to burn 800 million USTCs connected to the Ozone protocol. LUNC price is down almost 1% in the last 24 hours after dropping to $0.000075, with the price currently trading at $0.000078. The low and high in 24 hours are $0.0000758 and $0.0000787, respectively.</p><p><br /></p><p>Meanwhile, the price of USTC is trading at $0.015, down nearly 1% in the last 24 hours after rising 31% in a month due to USTC's repeg efforts. Trading volume also dropped 33% in 24 hours.</p>