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Terra Luna Classic v2.2.0 Core Upgrade L1 Terra Classic Task Force (L1TF) developer Vinh Nguyen took to X to reveal that the developer group has successfully completed Sprint 2 from August 8-21. The team has released core v2.2.0 first version (rc1) and will work with front-end, contract teams on the rebels-2 testnet to ensure backward compatibility. advertisement According to the report, code work for the v2.2.0 core upgrade including cosmos SDK upgrade to SDK 46, tendermint migration to CometBFT, IBC-go to v6, and wasmd is completed. “We expect mainnet upgrade will happen by the end of sprint #3. Further more, we will investigate the possibility of migrating oracle and 20% VP limit logic from forked cometbft and cosmos – sdk to core. This will allow terra – classic to use canonical cometbft and cosmos – sdk which will greatly reduce upkeep effort.” L1TF also looked at LUNC cap proposal, which stops the chain to not mint more LUNC i...

Also Read: Ripple Community Mocks Republican For Calling XRP A Security; Analyst Predicts Re-Entry Level advertisement Terra Do Kwon Uses “Torres Doctrine” To Dismiss Lawsuit by SEC Terraform Labs (TFL) and co-founder Do Kwon ’s lawyers filed a supplemental authority in support of the motion to dismiss the lawsuit by the US Securities and Exchange Commission (SEC). Judge Jed Rakoff granted both defendants and the plaintiff to file a notice of supplemental authority regarding the dismissal of the lawsuit. Lawyers from top law firm Dentons, representing Terraform Labs and co-founder Do Kwon , claimed Judge Analisa Torres’ landmark decision in US SEC v. Ripple Labs directly affects the defendants’ motion to dismiss the lawsuit. SEC argues that UST, LUNA, wLUNA, MIR, or mAssets are securities. However, the Ripple case confirms SEC’s legal insufficiency to prove its claim that cryptocurrencies, except Bitcoin are securities. Also, ...

Edward Kim’s Block Entropy team members reached a deal with on-ramp provider Guardarian to list LUNC for free, with USTC negotiations ongoing currently. advertisement Also Read:   Terra Classic Community Pool Balance Rises, Quant-Binance USTC Talks, Coinbase’s LUNC Listing Terra Luna Classic Developer L1TF Starts Q3 Roadmap The Joint L1 Task Force developer team’s project manager LuncBurnArmy took to Twitter to announce the end of Q2 development work, successfully completing several major upgrades and maintenance tasks. He further added that the team has completed Q2 developments and will work on tasks planned in Q3 from July 17 to October 17. L1TF will provide updates on all tasks in Q3 on a bi-weekly basis. Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List Must Read ...

Terra Co-Founder Daniel Shin Preliminary Hearing During the first hearing at Seoul Southern District Court , lawyers representing Terra co-founder Daniel Shin , former CEO of Chai Corp, asked for more time from Judge Jang Seong-hoon to prepare for criminal defense. Daniel Shin didn’t personally attend the hearing, reported a local news outlet on July 10. advertisement The court has approved the request and set a date of August 28 for a second hearing. The prosecutors are disappointed with continuous delays. The judge said: “We will check the opinions of the lawyers and reopen the trial preparation date to decide the opportunity for defense and the order of interrogation.” The first trial was originally scheduled on May 26, but was postponed to this day due to controversy over the fairness of the chief judge. Daniel Shin hired a team of  30 lawyers for his defense, which includes former judges, prosecutors, and lawyers experienced in di...

Binance’s Total LUNC Burn Reaches 33 Billion Binance sent 1.04 billion Terra Luna Classic (LUNC) tokens to the burn address as part of the commitment to reducing the LUNC circulating supply, according to the burn transaction. It also includes a transaction fee of 5.22 million LUNC. advertisement Notably, the 10th batch of the LUNC burn mechanism is for the period April 30 to May 30, 2023. With the latest burn, Binance has burned nearly 33 billion Terra Classic tokens in total from trading fees on LUNC spot and margin trading pairs. In May, Binance burned 1.27 billion LUNC tokens. LUNC burns by Binance significantly reduced after the exchange reduced LUNC spot and margin trading fees contribution from 100% to 50%. Despite the low Binance burn, LUNC burn rate increased massively in May as DeFi protocol DFLunc burned over 2.5 billion LUNC . The project is now burning LUNC for Edward Kim’s AI app chain “Block Entropy” testnet tokens, with ...