- The update should go live on the mainnet in early September as per the team.
- L1TF advised against the LUNC cap proposal as it is the main source of revenue.
The L1 Terra Classic Task Force (L1TF) has released an update on the status of the chain’s core upgrade to version v2.2.0. After a week of testing on the rebels-2 testnet, the update should go live on the mainnet in early September.
Developer Vinh Nguyen of the L1 Terra Classic Task Force (L1TF) announced on twitter that the team has finished Sprint 2 (August 8-21). After releasing core v2.2.0 rc1, the team will collaborate with front-end, contract groups on the rebels-2 testnet to guarantee compatibility with previous versions.
The report states that the code work for the v2.2.0 core update is complete, including the cosmos SDK upgrade to SDK 46, the transfer of tendermint to CometBFT, the upgrading of IBC-go to version 6, and the implementation of wasmd.
LUNC Cap Proposal
L1TF also considered the LUNC cap proposal, which would prevent the chain from minting new LUNC with each new block. However, it is the main source of revenue for the community pool and its delegators and validators. Because it might disrupt the chain, L1TF advises against making the adjustment.
The operation of USTC swaps will also be affected. If there is a limit on the supply of LUNC, no LUNC will be sent to a trader in exchange for USTC. The L1TF is also keeping tabs on the evolution of community-owned services like Station, Finder, and Wallet.
Moreover, after falling in tandem with the rest of the cryptocurrency market recently, the values of Terra Luna Classic and USTC might turn the table around with upcoming developments in line.
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