The L1 Terra Classic Task Force (L1TF) developer group has initiated the v2.2.1 core upgrade for the Terra Luna Classic chain at block height 14514000 on September 12, 10:15 UTC. Unlike the previous major v2.1.1 parity upgrade in June, this upgrade is taking longer for the L1TF core developer group to complete.
The Terra Luna Classic v2.2.1 Core Upgrade includes significant changes such as the introduction of a new cosmos SDK, migration of tendermint to CometBFT, and updates to IBC-go and wasmd versions. Additionally, it implements key changes that were previously approved through governance voting, including the splitting of the burn tax to the distribution module.
According to AtomScan, the Terra Classic chain is gradually coming back online as validators are becoming active. Blocks and inflation data are being displayed correctly, but the staked LUNC data is yet to appear on the platform.
Validators and node operators have confirmed their upgrade to the latest v2.2.1 release in preparation for the upgrade. After 3 hours, PFC became the first validator to be up and running, with other validators slowly following suit. The L1TF has not yet announced any specific changes or issues encountered during the upgrade.
Some members of the community have expressed concerns as the Terra Classic Station, wallet, and Finder are currently inaccessible. They are awaiting an announcement from Hexxagon and L1TF regarding the v2.2.1 upgrade.
In the meantime, crypto exchange Binance and other platforms have announced their support for the Terra Luna Classic network upgrade.
Following the upgrade, the prices of Terra Luna Classic ecosystem tokens, LUNC and USTC, have experienced a significant increase. This rise in prices is attributed to a slight recovery in the broader crypto market, coupled with the advantages brought by the upgrade. However, trading volumes remain relatively low.
LUNC price has surged by nearly 4% in the last 24 hours and is currently trading at $0.000057. The 24-hour low and high for LUNC are $0.0000557 and $0.0000589, respectively.
Similarly, USTC price is now at $0.012, reflecting a 3% increase in the past 24 hours. The 24-hour low and high for USTC are $0.0118 and $0.0122, respectively.