Terra Luna Classic Unanimously Passes Resolution to Resolve Sequence Mismatch Issue
The Terra Luna Classic community recently came together to address the sequence mismatch issue affecting some validators on the chain. This problem had resulted in certain accounts being barred from further interaction with the chain.
Upgrade Proposal for Sequence Mismatch Issue Resolution
After the community initially approved a proposal to resolve the sequence mismatch issue, validators and core developer L1TF decided to change it to an upgrade proposal. This decision was made to facilitate easier implementation of changes as the chain halts automatically.
Terra Luna Classic Passes v2.3.2 Upgrade Proposal
Proposal 11890, which involved the upgrade to v2.3.2 for resolving the sequence mismatch issue, was successfully passed by the Terra Luna Classic community with complete support. The proposal required community approval for the on-chain deployment of terrad client v2.3.1.
As per CoinGape’s report, the binary was changed to version v2.3.2 (v6_1) to meet the requirements of the upgrade proposal. The chain is set to halt at block 15751600, estimated at 1:18 pm on December 8.
This proposal garnered full support from the community, with 100% “Yes” votes, making it the first proposal in several months to receive unanimous approval. All 46 validators who participated in the vote cast “Yes” votes, including top validators such as Allnodes, Interstellar Lounge, Interstake One, StakeBin, and JESUSisLORD.
LUNC Price Rally 25%
Following the recent developments, the price of Terra Luna Classic (LUNC) experienced a significant rally, rising by 25% in the last 24 hours and currently trading at $0.000140. The 24-hour low and high for LUNC were recorded at $0.000114 and $0.000144, respectively, while the trading volume saw a 250% increase, indicating growing interest among traders.
Additionally, the rally in LUNC’s price was influenced by the performance of TerraClassicUSD (USTC), which surged by 400% in a month. The announcement of Mint Cash news and Binance’s launch of USTC perpetual contract and new USTC trading pairs further contributed to the recent surge in prices.
As for USTC, its price traded at $0.053, marking a more than 4% increase after experiencing a substantial rally during the week. While the 24-hour low and high for USTC were $0.0448 and $0.0549, the trading volume fell by 10% in the past 24 hours.
The recent rallies in both LUNC and USTC were also influenced by Binance’s burning of 4 billion LUNC tokens.
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