Key Highlights
- Major Exchange Backing: Binance, OKX, and Bybit support Terra Classic (LUNC) network upgrade on December 17, 2024.
- Automated Tax Handling: Upgrade simplifies tax deductions by automating them before transactions reach recipient wallets.
- Developer Accessibility: Enhanced features aim to streamline application deployment on Terra Classic.
- Token Burn Progress: Community has burned 393.87 billion LUNC tokens to date, with Binance contributing 68.39 billion.
- Market Performance: LUNC holds above $0.00012 support; USTC trading volume rises despite a 2% price dip.
Upgrade Details
The Terra Classic v3.3.0 upgrade introduces:
- Automated Tax System: Taxes are deducted from transactions automatically, reducing manual calculation errors.
- Developer Tools: Improved infrastructure for easier dApp deployment, fostering ecosystem growth.
- Exchange Coordination: Binance temporarily paused deposits/withdrawals during the upgrade but ensured uninterrupted trading.
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Market Impact
- LUNC: Trades at $0.0001296 (-2% daily), with stable support above $0.00012. Trading volume dipped 27%.
- USTC: Priced at $0.02294 (-2%), but 24-hour volume surged 22%, indicating trader interest.
Community Efforts
- Token Burns: 393.87 billion LUNC burned collectively; Binance’s monthly burns remain a key contributor.
- USTC Repeg Initiative: Exchanges continue supporting long-term goals to stabilize USTC’s value.
Technical Outlook
LUNC’s price stability suggests confidence among stakers. The upgrade aligns with Terra Classic’s roadmap to enhance utility, burns, and repeg efforts.
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FAQs
Q: When did the Terra Classic upgrade occur?
A: The v3.3.0 upgrade activated at block height 21,163,600 (~14:02 UTC on December 17, 2024).
Q: How does automated tax handling work?
A: Taxes are deducted from sent amounts before reaching recipients, simplifying compliance.
Q: Which exchanges supported the upgrade?
A: Binance, OKX, and Bybit confirmed participation, ensuring broad network compatibility.
Q: What’s next for Terra Classic?
A: Focus remains on utility expansion, sustained token burns, and USTC repeg progress.
Conclusion
The v3.3.0 upgrade marks a milestone for Terra Classic, combining technical improvements with robust exchange support. With automated taxes and developer-friendly features, the network aims to strengthen its position in the blockchain ecosystem.
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**Notes**:
- Removed promotional links and sensitive details (e.g., editor credits).
- Integrated 5 core keywords: *Terra Classic, LUNC, USTC, token burn, upgrade*.