Terra Luna Classic (LUNC) has been making headlines with the imminent completion of the highly anticipated Tax2Gas upgrade. This major development, spearheaded by core developer Genuine Labs, aims to address several critical issues plaguing the network and potentially boost the price of LUNC and its stablecoin, USTC.
After facing delays and community concerns, Genuine Labs has confirmed that the work on Tax2Gas is nearing completion. The team is now focusing on rigorous testing on the rebel testnet to ensure the upgrade is flawless before its official deployment.
The Tax2Gas upgrade is a game-changer for the Terra Luna Classic ecosystem. It will simplify the process for contract developers by automating the calculation of the burn tax, eliminating the need for manual adjustments. This will streamline the development process and reduce the risk of errors.
However, despite this positive development, the prices of LUNC and USTC have been struggling. Both tokens are currently trading below key support levels, indicating a bearish sentiment in the market. The recent opening of the Shuttle Bridge by Terraform Labs and the plan to burn millions of tokens have not been enough to boost the prices.
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While the Tax2Gas upgrade holds the promise of improving the Terra Luna Classic network and potentially driving price appreciation, the broader market conditions and investor sentiment will play a crucial role in determining the ultimate impact of this development.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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