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Orbit Labs and community-led burn campaigns drive ecosystem upgrades and supply reduction, boosting Terra Luna Classic’s functionality. Market sentiment remains cautious due to price drops and uncertainties surrounding Do Kwon’s legal challenges. The Terra Luna Classic ecosystem has seen pivotal advancements recently, driving both innovation and community focus. While a governance vote on the proposed upgrade will follow next week, with a mainnet upgrade scheduled for February, the current update aims to align Terra Luna Classic with the broader Cosmos ecosystem, improving security, maintenance, and features like multi-send handling. As previously reported by CNF about the Terra Luna Classic (LUNC) v3.3.0, the upgrade focuses on improving tax mechanisms, increasing network efficiency, and enticing developers to build decentralized applications (dApps) on the platform. In this article, we will dive deeper into the five key Terra Luna Classic developments: First, Orbit Labs completed a key upgrade to align with Cosmos. Second, token burn campaigns aim to reduce LUNC and USTC supply. Third, the v3.3.0 upgrade boosts dApp development. Fourth, new projects like Selenium expand use cases. Fifth, Do Kwon’s legal battles impact market sentiment. A Closer Look at the Technical Upgrades The upgrade led by Orbit Labs addresses fundamental blockchain inefficiencies by aligning Terra Luna Classic with Cosmos. This includes improved multi-send functionality and streamlined security updates, with the mainnet upgrade slated for February. The v3.3.0 update further removes development barriers, inviting more dApps and protocols to enhance the ecosystem’s functionality and attract broader adoption. Community-Led Burn Initiatives The LUNC community is aggressively pursuing token burns, supported by Binance’s mechanism, with 400 billion LUNC already burned. As shared in a recent tweet involving the community, upcoming campaigns target inaccessible wallets, USTC tokens in Oracle reward pools, and Luna Foundation Guard-linked holdings. These efforts aim to lower token supply, stabilize USTC, and potentially…

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Filed under: News - @ January 13, 2025 2:08 am