The Terra Classic developer group (L1TF) announced that they are ready for the largest parity upgrade v2.1.1 of the Terra Classic blockchain on June 14th. With Proposal 11561 “Upgrade to v2.1.0” approved by the Terra Luna Classic (LUNC) community, LITF has shared a status update on the readiness and details of the upgrade.
Joint L1 Task Force project manager LuncBurnArmy took to Twitter to announce preparations for the June 14th Parity upgrade. With this upgrade, wasmvm will be upgraded to v1.1.2 and a minimum 5% verifier commission will take effect.
This upgrade will bring Terra Classic on par with other blockchains such as Terra 2.0 and other Cosmos chains. At the same time, it will allow projects and developers to once again build and bring dApps on the Terra Classic network.
Terra Classic will undergo the v2.1.1 software upgrade at block height 13215800 at approximately 14:00 UTC on June 14th. The L1 Task Force has completed extensive testing and review of security vulnerabilities for this major upgrade, as well as providing the v2.1.0 software release to verifiers. A small portion of the budget will be used to provide the USTC test environment for the USTC repeg team.
Terra Luna Classic (LUNC) staking has officially hit 1 trillion, a historic milestone ahead of a major Parity increase. Additionally, the total number of LUNC tokens burned by the community has reached over 63 billion.
LUNC prices are now rebounding after they fell 12% on Saturday due to a market-wide selloff. The price is currently trading at $0.0000867, with a 24-hour low and high of $0.000084 and $0.000090 respectively.
