The Terra Luna Classic (LUNC) community has rallied behind a crucial proposal to restore the interblockchain communication (IBC) link between Terra Classic and Kujira. Proposal 12099, titled “Restore IBC to Kujira,” garnered overwhelming support, with 99.99% of the vote in favor. This move is expected to breathe new life into the revival efforts of Terra Classic by boosting liquidity and freeing up frozen funds.
The Power of Community: Unanimous Vote for Revival
The proposal, submitted by the RakoffToken team, aimed to re-enable the IBC client connection between the two blockchains. This essential bridge allows for seamless asset transfer between Terra Classic and Kujira. The overwhelming community support, with all 57 validators participating in the vote, highlights the collective desire to see Terra Classic flourish again.
Unlocking Liquidity and Frozen Funds
The upgraded IBC client (from 07-tendermint-178 to 07-tendermint-246) will facilitate smoother communication between the chains. This paves the way for increased liquidity within the Terra Classic ecosystem. Additionally, the restoration of the IBC connection is expected to unlock funds that were previously inaccessible due to the severed link.
The Terra Luna Classic community’s commitment to revival extends beyond the IBC restoration. The recent approval of additional proposals, such as reducing the maximum block size for enhanced security and adjusting validator commission structures, demonstrates a unified approach towards a healthier Terra Classic ecosystem.
Also Read: Terra Luna Classic Shifts LUNC Burn Tax Distribution, Focuses on Oracle
LUNC Price Responds Positively
The market seems to be reacting favorably to these developments. LUNC price experienced a 5% surge in the last 24 hours, with trading volume also rising by a significant 80%. While the price currently sits at $0.0001076, some community members remain optimistic about LUNC reaching $1 in the future.
The successful implementation of Proposal 12099 marks a significant milestone for Terra Luna Classic. The restored IBC connection with Kujira, coupled with other community-driven initiatives, has the potential to revitalize the ecosystem. However, it’s important to remember that the cryptocurrency market remains volatile, and long-term success will depend on sustained community engagement and a well-defined roadmap for the future.
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