Terraform Labs works on LUNC/USTC swaps, signaling Terra Classic’s revival efforts.
Terraform Labs, the team behind Terra Classic (LUNC), is making progress towards implementing a highly anticipated feature for the community. They have begun working on a Pull Request proposal that will allow LUNC/USTC swaps on TerraSwap, a decentralized exchange on the Terra blockchain.
The push for LUNC/USTC swaps has been gaining momentum within the Terra Classic community for several weeks now. The proposal for this token trading pair was initially put forward on June 17th, and a Pull Request was subsequently submitted to officially present the idea.
Exciting news arrived when the official Twitter account of the LUNCBurnArmy announced that Terraform Labs has accepted the Pull Request. This means that the team will now attempt to merge the PR, which will enable the ability to swap LUNC/USTC on Station, another platform on the Terra blockchain.
The LUNCBurnArmy confirmed that the merging process is currently underway, and there is optimism that it will be completed today. They have promised to update the community once the merging is finalized.
Terra Classic Developers Forge Ahead To Rebuild Trust And Confidence With LUNC/USTC Swaps
Following the collapse of Terra (LUNA) and the algorithmic stablecoin TerraUSD (UST), many users expressed doubts about the future of the protocol. However, a dedicated group of developers committed to reviving the original chain, now called Terra Classic. This effort to implement LUNC/USTC swaps is yet another step towards restoring the protocol’s former glory and building trust within the community.
Over the past year, various initiatives have been launched to restore value to LUNC. The creation of a trading pair for the LUNC coin and its associated stablecoin is seen as an ingenious way to meet the community’s needs across the board.
In addition to the LUNC/USTC swaps, other milestones have been achieved in the development of Terra Classic. Recently, a bug bounty campaign was introduced to incentivize whitehat hackers to identify and address potential vulnerabilities that could pose long-term risks to the protocol’s security. These efforts aim to ensure the protocol’s sustainable growth by preventing any obstacles along the way.
LUNC has experienced a significant loss in value, declining over 99.9% from its all-time high of $119. Currently, LUNC is trading at approximately $0.000082, representing a 4.83% decrease in the past 24 hours.
Despite the challenges faced, every step taken to improve Terra Classic brings the protocol closer to its goals. The community remains hopeful that these developments will contribute to the resurgence of LUNC and the long-term success of the Terra Classic ecosystem.