Great Good News to Terra Classic (LUNC)! The Critical Date has been Announced! The Price May Be Affected!


While the Terra (LUNC) community is taking dramatic steps within the scope of the resurrection project, current developments and data are creating excitement.

IBC Becomes Active Tomorrow!

reXxTerraRebels, one of the leading members of Terra Rebels, an independent Terra Classic development group, confirmed in a tweet that Inter Blockchain Communication (IBC) will be reactivated on the Terra network tomorrow. According to the current report, the code has successfully passed preliminary tests, and the developers are conducting October tests of a more reliable and sustainable system. There will also be no downtime as a result of the upgrade. IBC is a system that enables dialogue between different blockchain networks. Dec. The proposal aims to reopen the IBCs for Osmosis, Crescent and Juno, which were disabled during the Terra-LUNA crisis in May.

The Terra Classic community aims to increase usage areas and functionality by bringing back projects in the chain. In addition, this application will increase the LUNC burn rate and help the LUNC price recover from the selling pressure that followed the FTX crisis. Edward Kim’s proposal to reactivate the IB Decs between Terra Classic and the Cosmos-based chains Osmosis, Crescent and Juno has attracted great interest in the community. The channels had been disabled during the Terra-LUNA crisis. Terra Rebels, Osmosis and Notional Labs are working on the L1/L2 chain update to reactivate the IBCs.

Why is It Important?

It is worth noting that the developers initially planned the reopening of IBC to begin with the v23 upgrade. However, Terra Classic core developer Edward Kim stated in November that they consider it necessary to move forward on the timeline to keep up with changes in the Cosmos ecosystem. As a result, the developer, as previously reported, had launched a proposal for the reopening of the IBC channels by December 5.

The new move is an important milestone for the Terra Luna Classic ecosystem. In particular, thanks to the ability to once again transfer value between other Cosmos chains, developers will be able to create new projects to attract the Decaying Terra Classic community by accepting LUNC. In October, in addition to the V23 upgrade, the Terra Classic network will become fully interoperable with Cosmos, allowing projects built on LUNAv2 to be commissioned on Terra Classic.

Kim had first announced in September that the developers were working to reopen the communication lines that Terraform Labs had cut during the ecosystem collapse. Then, in October, veteran Cosmos developer Jacob Gadikian had announced that the code was ready. With this stunning move, it is foreseen that more UNC will be burned.

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