Forked Terra Blockchain To Launch On Friday
Terra is forking its blockchain and abandoning its unstable stablecoin, UST, following a recent collapse. The decision, led by founder Do Kwon, gained majority support from the community. Despite some large LUNA holders remaining skeptical, the proposal passed with a 65.5% majority.
The new Terra chain, separating from the old as Terra Classic, will launch on Friday, with LUNA tokens airdropped to stakeholders, UST holders, and key developers. The move aims to revive Terra's ecosystem and establish a community-owned chain.
Terra is forking its blockchain and abandoning its unstable stablecoin, UST, following a recent collapse. The decision, led by founder Do Kwon, gained majority support from the community. Despite some large LUNA holders remaining skeptical, the proposal passed with a 65.5% majority.
The new Terra chain, separating from the old as Terra Classic, will launch on Friday, with LUNA tokens airdropped to stakeholders, UST holders, and key developers. The move aims to revive Terra's ecosystem and establish a community-owned chain.
Terra (LUNC) Developments Whirl: Will Bullish Pattern Hold?
The TerraForm vs. SEC lawsuit has cast a shadow over Terra Classic, with its founder found liable for defrauding customers. LUNC's value dropped by 28% in the past month, landing it at #134 in crypto charts. Despite Bitcoin's gains, LUNC's downward trend persists. Analysts speculate on a potential resurgence tied to Bitcoin's halving, aiming for a price target of $0.00058.
The ongoing legal battle hasn't deterred Terra Classic's community, who emphasize their separation from TerraForm Labs. Analysts are cautiously optimistic about a price rebound, contingent on developer activity and Bitcoin's halving. Despite challenges, Terra Classic maintains a global community presence, though its market cap ranking has slipped.
The TerraForm vs. SEC lawsuit has cast a shadow over Terra Classic, with its founder found liable for defrauding customers. LUNC's value dropped by 28% in the past month, landing it at #134 in crypto charts. Despite Bitcoin's gains, LUNC's downward trend persists. Analysts speculate on a potential resurgence tied to Bitcoin's halving, aiming for a price target of $0.00058.
The ongoing legal battle hasn't deterred Terra Classic's community, who emphasize their separation from TerraForm Labs. Analysts are cautiously optimistic about a price rebound, contingent on developer activity and Bitcoin's halving. Despite challenges, Terra Classic maintains a global community presence, though its market cap ranking has slipped.
Coin exchange rate
$BTC 66379.236 USD (+2.89%) 🟢$LUNC 0.00010713 USD (+6.28%) 🟢$LUNA 0.64403131 USD (+3.22%) 🟢LUNC News: Terra Classic Plans Security Package Upgrade This Month; $110B LUNC Burned
Genuine Labs, the core developer of Terra Luna Classic, announces plans for a security package upgrade this month to enhance the chain's security and functionality. The community has burned over $110 billion worth of LUNC, with significant contributions from Binance. The team is preparing for the upgrade by testing it on the testnet and proposing it for the Columbus-5 upgrade in the coming weeks.
Genuine Labs, the core developer of Terra Luna Classic, announces plans for a security package upgrade this month to enhance the chain's security and functionality. The community has burned over $110 billion worth of LUNC, with significant contributions from Binance. The team is preparing for the upgrade by testing it on the testnet and proposing it for the Columbus-5 upgrade in the coming weeks.
Terra Classic Votes On Forming Core Development Team. Here’s the Significance
The Terra Classic (LUNC) community is voting on Proposal 12093, "Establish a Terra Classic Team," which seeks to create a funded development team to manage advancements on the Terra Classic blockchain. The proposal aims to fill the leadership gap left by the disbanding of the Joint L1 Task Force earlier this year. The exact team structure and responsibilities will be determined in future discussions if the proposal passes. Currently, 82% of the community supports the proposal, but concerns about centralization and developer payment methods have been raised. The outcome of the vote could significantly impact the project's direction, potentially injecting renewed energy but requiring careful consideration of community concerns.
The Terra Classic (LUNC) community is voting on Proposal 12093, "Establish a Terra Classic Team," which seeks to create a funded development team to manage advancements on the Terra Classic blockchain. The proposal aims to fill the leadership gap left by the disbanding of the Joint L1 Task Force earlier this year. The exact team structure and responsibilities will be determined in future discussions if the proposal passes. Currently, 82% of the community supports the proposal, but concerns about centralization and developer payment methods have been raised. The outcome of the vote could significantly impact the project's direction, potentially injecting renewed energy but requiring careful consideration of community concerns.
Anticipation Soars For 2024s Biggest Presale: Could This Crypto Outpace Cardano And Terra Luna Classic
A highly anticipated meme coin, $RECQ, is generating FOMO among investors with its presale, aiming to outshine top altcoins like Cardano and Terra Classic. Rebel Satoshi's innovative dual-token ecosystem emphasizes community engagement and democratizing finance. The presale has already seen significant interest, with an expected ROI of 237%. Meanwhile, Cardano slips in market cap rankings, facing price challenges, while Terra Classic experiences a token burn by Binance, aiming to revive its project amidst price fluctuations. For more details, visit the official Rebel Satoshi Presale Website or contact Rebel Red via Telegram.
A highly anticipated meme coin, $RECQ, is generating FOMO among investors with its presale, aiming to outshine top altcoins like Cardano and Terra Classic. Rebel Satoshi's innovative dual-token ecosystem emphasizes community engagement and democratizing finance. The presale has already seen significant interest, with an expected ROI of 237%. Meanwhile, Cardano slips in market cap rankings, facing price challenges, while Terra Classic experiences a token burn by Binance, aiming to revive its project amidst price fluctuations. For more details, visit the official Rebel Satoshi Presale Website or contact Rebel Red via Telegram.
Coin exchange rate
$BTC 63549.784 USD (-4.26%) 🔴$LUNC 0.00010164 USD (-5.12%) 🔴$LUNA 0.61171467 USD (-5.02%) 🔴LUNC Plummets 30% in a Month – Should Investors be Concerned About Terra Luna Classic Nearing Zero?
Terra Luna Classic (LUNC) has seen a recent decline of 1.5%, dropping to $0.0001288, marking a 4% loss in a week and a significant 30% decrease over 30 days. While most major coins are rising, LUNC is on a downward trend. The approval of Terra founder Do Kwon's extradition has impacted LUNC's price and future. Its recovery relies on community efforts to improve protocol and tokenomics. Some traders believe in a potential recovery to $0.00020 if the wider market rallies. Alternatively, Slothana (SLOTH), a Solana-based coin, has gained attention, with a presale ending soon. Latecomers are encouraged to act quickly, highlighting potential profits amidst market risks.
Terra Luna Classic (LUNC) has seen a recent decline of 1.5%, dropping to $0.0001288, marking a 4% loss in a week and a significant 30% decrease over 30 days. While most major coins are rising, LUNC is on a downward trend. The approval of Terra founder Do Kwon's extradition has impacted LUNC's price and future. Its recovery relies on community efforts to improve protocol and tokenomics. Some traders believe in a potential recovery to $0.00020 if the wider market rallies. Alternatively, Slothana (SLOTH), a Solana-based coin, has gained attention, with a presale ending soon. Latecomers are encouraged to act quickly, highlighting potential profits amidst market risks.
The Terra Luna Classic (LUNC) community is currently engaged in voting on a crucial proposal aimed at establishing a core team responsible for overseeing the chain’s developments and other key decisions.
This proposal comes in the wake of the disbandment of the core developer group Joint L1 Task Force (JL1TF) in March. The proposed core team would comprise key individuals, including developers and contributors, appointed by the community.
Proposal Details
The text proposal (no. 12093), titled “Establish a Terra Classic Team,” is currently up for voting on the Station wallet for the Terra Luna Classic community. If it gets approved, this proposal would be paving the way to establish a permanent team to be remunerated monthly from the community pool. It is also expected that the team is would work directly for the Terra Classic blockchain. This distinguishes it from Terraform Labs, serving Terra (LUNA). Details about the roles, salaries, responsibilities, and the number of developers will be determined in a proposal that is to follow, depending upon the governance approval of this initial proposal.
Please open Telegram to view this post
VIEW IN TELEGRAM
Ethena’s token has sparked mixed reactions within the crypto community since its public launch in February. Stakeholders who stake USD for at least seven days are currently enjoying an annual return of approximately 37%.
This high return enabled the total value locked (TVL) on the protocol to rise from $178 million to $2.3 billion in just 60 days.
However, such high returns often come with inherent risks, reminiscent of Terra’s UST, which paid out around 20% to stakers before its collapse.
Unlike asset-backed stablecoins such as Tether (USDT) and USDC, which derive their value from reserves such as the dollar or US government debt, USDe operates as a synthetic stablecoin.
The USDe’s $1 value is maintained through a financial strategy known as cash and carry trading, which involves simultaneously purchasing an asset and shorting its derivative to capture the funding rate.
Although this trade is considered relatively safe in traditional finance, it is not without risks, especially regarding market volatility and currency issues.
Folkvang CEO Mike van Rossum expressed cautious optimism about the strategy, while highlighting potential pitfalls including issues with currency management and trading in volatile markets.
Ethena users mint USDe tokens by depositing stablecoins such as USDT, dai (DAI) and USDC, and can then stake them to earn returns.
To achieve these returns, the protocol uses various strategies revolving around cash and carry trading and takes advantage of positive funding rates on perpetual coins such as Bitcoin (BTC) and Ethereum (ETH).
Despite concerns, crypto whales have shown their confidence, with recent data showing a significant amount of money being deposited into Ethena’s governance token (ENA), which remains locked for seven days or more.
But analysts like Arca’s Jeff Dorman warn about the risks of relying on market forces to generate returns.
Please open Telegram to view this post
VIEW IN TELEGRAM
Coin exchange rate
$BTC 63546.689 USD (-0.0%) 🔴$LUNC 0.00010191 USD (+0.26%) 🟢$LUNA 0.60895738 USD (-0.45%) 🔴Uniswap (UNI) dips 15% on SEC concerns: whales pivot to LUNA and NUGX for growth
As the SEC announced a Wells Notice in April, Uniswap (UNI) price saw a significant 15% decrease, leading to a $5.6 billion reduction in market capitalization. This unfavorable event prompted influential investors, or “whales,” to shift their focus towards NuggetRush (NUGX) and Terra Luna (LUNA), seeking promising growth prospects for their portfolios. These altcoins are recognized for their consistent expansion and cutting-edge advancements.
NuggetRush stands out among bullish altcoins by merging mining minerals and cryptocurrency into an engaging blockchain game. Players earn rewards through distinct character NFTs, RUSHGEMS, and an innovative staking process. Having sold over 270 million tokens already, NUGX secures its place among the best DeFi cryptos offering substantial incentives.
This article unveils the unique attributes of NUGX and LUNC that make them sought-after altcoins by whales amid Uniswap’s decline.
As the SEC announced a Wells Notice in April, Uniswap (UNI) price saw a significant 15% decrease, leading to a $5.6 billion reduction in market capitalization. This unfavorable event prompted influential investors, or “whales,” to shift their focus towards NuggetRush (NUGX) and Terra Luna (LUNA), seeking promising growth prospects for their portfolios. These altcoins are recognized for their consistent expansion and cutting-edge advancements.
NuggetRush stands out among bullish altcoins by merging mining minerals and cryptocurrency into an engaging blockchain game. Players earn rewards through distinct character NFTs, RUSHGEMS, and an innovative staking process. Having sold over 270 million tokens already, NUGX secures its place among the best DeFi cryptos offering substantial incentives.
This article unveils the unique attributes of NUGX and LUNC that make them sought-after altcoins by whales amid Uniswap’s decline.
Terra Luna, a decentralized platform, introduces innovative ideas. It offers multiple stablecoins, enabling instant transactions through an algorithm that adjusts the money supply. LUNA’s algorithm allows low fees and seamless global exchanges.
These features have led to Terra Luna’s steady growth this year. Major Analyses and predictions point to a further price surge. This favourable outlook positions LUNA as a top performer in the crypto market.
Please open Telegram to view this post
VIEW IN TELEGRAM
Coin exchange rate
$BTC 61243.726 USD (-3.62%) 🔴$LUNC 0.00009714 USD (-4.68%) 🔴$LUNA 0.58302977 USD (-4.26%) 🔴Terra Luna Classic as LUNC Plummets 30% in a Month – Is It Going to Zero?
Terra Luna Classic (LUNC) has plummeted 30% in the last month, sparking concerns about its future. Technical indicators signal further declines, indicating ongoing struggles for the token. Despite efforts to address issues, investor confidence remains low. Price predictions suggest a potential rebound to $0.00020, but uncertainty lingers.
Meanwhile, Slothana (SLOTH), a Solana-based coin, has garnered attention with its successful presale, raising over $10 million. With a team experienced in meme tokens and a strong marketing strategy, Slothana presents an alternative for investors seeking new opportunities. The presale, offering SLOTH at an attractive rate, is ending soon, making it a timely opportunity for potential investors.
Terra Luna Classic (LUNC) has plummeted 30% in the last month, sparking concerns about its future. Technical indicators signal further declines, indicating ongoing struggles for the token. Despite efforts to address issues, investor confidence remains low. Price predictions suggest a potential rebound to $0.00020, but uncertainty lingers.
Meanwhile, Slothana (SLOTH), a Solana-based coin, has garnered attention with its successful presale, raising over $10 million. With a team experienced in meme tokens and a strong marketing strategy, Slothana presents an alternative for investors seeking new opportunities. The presale, offering SLOTH at an attractive rate, is ending soon, making it a timely opportunity for potential investors.
Please open Telegram to view this post
VIEW IN TELEGRAM
Coin exchange rate
$BTC 64555.136 USD (+5.41%) 🟢$LUNC 0.00010103 USD (+4.0%) 🟢$LUNA 0.61132781 USD (+4.85%) 🟢For every friend you invite, we will give you 5000 LUNC
More details 👆
Please open Telegram to view this post
VIEW IN TELEGRAM
Terra Luna Classic Community Brings Crucial Proposal in Focus
Terra Luna Classic community currently voting on a crucial proposal to mitigate some risks of peer-to-peer storm attacks on the Terra Classic chain. Notable developers have pointed out possible risks on Cosmos, Solana, and Polkadot ecosystems and suggested initial measures to reduce the impact of such attacks on the chain.
Terra Luna Classic community currently voting on a crucial proposal to mitigate some risks of peer-to-peer storm attacks on the Terra Classic chain. Notable developers have pointed out possible risks on Cosmos, Solana, and Polkadot ecosystems and suggested initial measures to reduce the impact of such attacks on the chain.
Terra Luna Classic MaxBlockSize Proposal
Genuine Labs, a core developer group, has submitted a highly critical proposal on the Station wallet to reduce block size from the current 5mb. The developer team proposes to decrease MaxBlockSize from 5mb to 2mb as an initial security measure to counter peer-to-peer spams.
Notional Labs CEO Jacob Gadikian said, “Heartily recommend a vote of YES on this proposal, and recommend a second proposal to reduce block size to between 850kb and 1MB.” This will further protect the chain from these network spam attacks.
The proposal has received 99.92% votes in favor from the community members and validators. Among 17 validators who participated in the voting, all voted “Yes”. Validators believe this is likely the best option currently until Genuine Labs finds a permanent solution.
Genuine Labs, a core developer group, has submitted a highly critical proposal on the Station wallet to reduce block size from the current 5mb. The developer team proposes to decrease MaxBlockSize from 5mb to 2mb as an initial security measure to counter peer-to-peer spams.
Notional Labs CEO Jacob Gadikian said, “Heartily recommend a vote of YES on this proposal, and recommend a second proposal to reduce block size to between 850kb and 1MB.” This will further protect the chain from these network spam attacks.
The proposal has received 99.92% votes in favor from the community members and validators. Among 17 validators who participated in the voting, all voted “Yes”. Validators believe this is likely the best option currently until Genuine Labs finds a permanent solution.