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Will Terra Luna Classic Community Vote to Reactivate IBC, Leading to a Price Rally for LUN?

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Overview

  • Terra Luna Classic community votes on IBC reactivation with Osmosis protocol.
  • Developer recommends upgrading client version for smooth IBC relay operation.
  • LUNC and USTC prices show stability amidst recent market trends.

Terra Luna Classic has put forward a pivotal proposal to reactivate interblockchain communication (IBC) with Osmosis using the Station wallet. The proposal aims to reintroduce transfers between Terra Luna Classic and Osmosis with specific client versions for enhanced functionality.

IBC Reactivation Proposal with Osmosis

Developer Fragwuerdig’s Proposal 12104 seeks to reinstate IBC between Terra Luna Classic and Osmosis. With broad community support, this initiative looks to improve connectivity and functionality among the two platforms.

Recent recommendations from key stakeholders, including Vegas, suggest updating the IBC client to ensure seamless operation. The shift from 07-tendermint-12 to 07-tendermint-250 is deemed essential for continued IBC functionality.

As voting progresses, the proposal garners significant approval, with over 96% votes in favor. The community actively engages in decision-making for the future development of Terra Luna Classic.

Current Price Trends

LUNC price anticipates a rise above $0.0002 supported by ongoing development efforts and staking activities. After a marginal uptick, LUNC price displays consolidation with a slight decrease in trading volume.

USTC price, on the other hand, experiences a 30% surge over the month, despite recent volume reductions. Trading at $0.02233, USTC presents a narrow trading range indicating potential trader interest.


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