The Terra Luna Classic (LUNC) development team has finished making the last adjustments to the long-awaited tax distribution upgrade. The goal is to make the network’s awards system more effective and long-lasting.
The upgrade’s main goal is to move community pool rewards from the tax burn to the Oracle Pool (OP), which will keep the platform stable in the long run.
The new version, v3.1.3, was released by Till Z, a well-known Terra Classic developer who is also known as Fragwuerdig in the LUNC community. Several writers, including StrathCole, worked together on this update, which is in line with community-approved proposals 12098 and 12114.
Terra Luna v3.1.3 Update
The v3.1.3 update of the terrad client will be proposed for validator and community approval so that this change can happen. At block height 19108180, the Terra Luna Classic blockchain will suddenly stop working. This is expected to happen on July 29 at 13:00 UTC.
The community is also looking forward to important news from Terraform Labs (TFL) about token burns before this change.The developers’ main jobs, according to the project’s GitHub repository, were to fix the parameter keys tables, make changes to the Oracle Split logic, and upgrade to wasmvm v1.5.2 to stop memory leaks.
The new logic will send block awards to the Oracle Pool (OP), which will slow down its depletion rate and change the way rewards are given from short-term to long-term.The Genuine Labs team also fixed important security and memory leak problems by changing wasmvm to version v1.5.2.
After the chain stop, validators will need to use the v3.1.3 release, and infrastructure providers that use enhanced LCDs with Mantlemint must also get the latest version of Mantlemint.In other important terra luna news, Terra Luna Classic had an amazing rise this week, rising over 27% and making up for the drop it took last month.
The price of LUNC has gone up more than 1% in the last 24 hours, and it is now worth $0.00009066. It was $0.00008865 at the 24-hour low and $0.00009411 at the 24-hour high. During the same time period, however, the number of trades went down slightly.
CoinGape Markets says that the price of LUNC is about to go above the $0.0001 resistance level, and leading signs point to a bullish trend. In the same way, the price of USTC went up by 2% and is now selling at $0.02069; its 24-hour low was $0.02011 and its 24-hour high was $0.02161. This week, the price of USTC went up by more than 28%.
