Home Blog Page 42

Re-Submission of USTD Proposal Sparks Debate in Terra Classic Community

Adit 39
-
0
Re-Submission of USTD Proposal Sparks Debate in Terra Classic Community

Re-Submission of USTD Proposal Sparks Debate in Terra Classic Community

After the rejection of Proposal #12192, the team behind the USTD stablecoin has re-submitted a new signal proposal on the Terra Classic blockchain. The re-submission revives debate over whether the community should pursue a decentralized and fully automated yield-bearing stablecoin.

In their latest statement, the proposers urged validators to reconsider their earlier rejection:

“We urge validators to reconsider the USTD rejection. Please set aside political concerns, recognize this vital utility as the community’s mandate, and prioritize the chain’s future. We trust you will support our shared vision for survival. Vote YES.”

The message is direct, calling on stakeholders to support USTD as a utility critical for Terra Classic’s long-term survival.

Proposal Objectives

  • Full decentralization
  • Automated mechanisms to sustain yield
  • Restoring stablecoin utility to the Terra Classic network

Supporters argue that USTD could reignite on-chain activity, attract new users, and strengthen Terra Classic’s position in the broader blockchain ecosystem.

However, the re-submission also raises questions. The community remains divided on whether launching another algorithmic stablecoin is the right path forward. Many participants have voiced concerns about the risks, citing past failures as reminders of what can go wrong when stablecoins lose their peg.

The key issue now is whether the community truly wants to move in this direction. While the team presents USTD as a mandate for survival, critics argue that stability and trust must come before experimentation.

The outcome of this signal proposal will be closely watched. It will reveal whether sentiment within the Terra Classic community has shifted since the last rejection—or whether caution will once again outweigh innovation.

Terra Classic Proposal #12193 Passed as Work on Astroport UI Revival Progresses

Adit 39
-
0
Terra Classic Proposal #12193 Passed as Work on Astroport UI Revival Progresses

Terra Classic Proposal #12193 Passed as Work on Astroport UI Revival Progresses

With Proposal #12193 (Re-Enable Legacy Contract Query Execution) passed, the pull request #602 on GitHub will be reviewed and merged into the core soon.

With help from Vegas Morph and his contacts, StrathCole is working on bringing the classic version of the old Astroport interface online. StrathCole has also contacted Vyntrex_io to coordinate listing the Astroport pairs once the upgraded code is released on mainnet.

As the community is aware, without a user interface only bots and technically advanced users would be able to swap and potentially take advantage of imbalanced pools. The goal is to provide as many people as possible with the option to access the pools.

Because the classic UI and its backend were no longer working, several fixes were implemented. All old terra-money libraries were removed, and the UI was switched to the goblinhunt/cosmes library. This makes the interface compatible not only with Station but also with Keplr, Station, GalaxyStation, Cosmostation, and LUNCDash mobile.

It is important to note that the patch is not live automatically. It will be included in one of the next chain upgrades. It will not be part of the upcoming 3.6.0 unforking by Orbit Labs, but is expected in the upgrade that follows.

2.27 Billion LUNC Burned in the Past Week

Adit 39
-
0
2.27 Billion LUNC Burned in the Past Week

2.27 Billion LUNC Burned in the Past Week

The Terra Classic network recorded a total burn of 2.27 billion LUNC over the past seven days.

Token burning is a process that permanently removes tokens from circulation, reducing the total supply. While burns do not guarantee immediate price changes, they are commonly used as a long-term mechanism to support tokenomics and scarcity.

This recent burn reflects ongoing initiatives by members of the Terra Classic community and participating platforms to decrease circulating supply. Weekly burn figures are a useful metric for monitoring the consistency and scale of these efforts.

Although the burn rate indicates active community engagement, the eventual effect on LUNC’s market value and ecosystem stability depends on broader factors, including market conditions, trading activity, and adoption.

Investors and observers should consider burn data alongside other on-chain metrics and market indicators when assessing the token’s outlook.

How to Build dApps on Terra Classic — Step-by-Step Guide

Lunc Daily
-
0
How to Build dApps on Terra Classic — Step-by-Step Guide

How can developers build dApps on Terra Classic? Follow these step-by-step instructions to design, code, test, and deploy a CosmWasm-powered dApp on Terra Classic.

Step 1 — Choose your stack and plan.
Decide the dApp type, pick CosmWasm for smart contracts (Rust), select Terra.js or an equivalent SDK for frontend integration, and plan storage, fees, and upgradeability. classic-docs.terra.money+1

Step 2 — Set up the environment.
Install Rust and the wasm32-unknown-unknown target, set up Cargo, install Terrain for scaffolding, and run LocalTerra or a testnet node to simulate the chain locally. classic-docs.terra.money

Step 3 — Develop the smart contract.
Use CosmWasm templates to scaffold a Rust contract, implement messages, state, and query handlers, then compile to WebAssembly (WASM) and iterate with unit tests. classic-docs.terra.money

Step 4 — Test thoroughly.
Run unit tests, integration tests on LocalTerra, and deploy to a public testnet. Use faucets to fund test wallets and verify gas, error handling, and edge cases.

Step 5 — Build the frontend and wallet integration.
Create a frontend that uses Terra.js (or other SDKs) to query contract state, build transactions, and prompt users to sign via Terra Station, Keplr, or WalletConnect. classic-docs.terra.money+1

Step 6 — Deploy, instantiate, and monitor.
Upload the WASM to the network, instantiate the contract with proper init parameters, and monitor transactions via explorers and node RPCs. Plan for migrations and admin controls if you need upgrades.

Best practices.
Audit contracts, minimize privileged keys, optimize gas usage, add observability, and document contract messages for integrators and auditors.

Summary.
By combining CosmWasm smart contracts, Rust tooling, LocalTerra/terrain testing, and Terra.js frontend integration, developers can efficiently build secure, tested dApps on Terra Classic. Consult official docs and community channels before mainnet launch.

The Impact of UST Depeg on Terra Classic and How the Community Responded

Lunc Daily
-
0
The Impact of UST Depeg on Terra Classic and How the Community Responded

The UST depeg in May 2022 marked one of the most dramatic events in crypto history, leaving a lasting impact on Terra Classic (LUNC) and its global community. When the algorithmic stablecoin UST lost its peg to the US dollar, billions of dollars in value evaporated, and investor trust collapsed overnight. Terra’s dual-token model, which relied on LUNA absorbing volatility, spiraled out of control, leading to hyperinflation of the supply and the downfall of one of the largest blockchain ecosystems at the time.

For Terra Classic, the consequences were severe. The project lost most of its institutional partners, developers, and users. Yet, instead of fading into obscurity, the LUNC community rallied together to preserve the chain. Independent developers, validators, and holders stepped in, transforming Terra Classic into a fully community-governed blockchain.

Recovery efforts began with token burns aimed at reducing the massive circulating supply of LUNC. Exchanges like Binance supported these initiatives, fueling optimism for long-term recovery. Staking was re-enabled, allowing users to delegate tokens and secure the network while earning rewards. Governance proposals also gave the community a direct voice in shaping the chain’s future, creating a decentralized and resilient ecosystem.

Today, Terra Classic remains a living example of how a decentralized community can adapt after disaster. While challenges remain, the collective efforts of LUNC holders highlight the power of grassroots innovation in keeping the blockchain alive after the UST depeg crisis.

What is the Current Value Proposition of Terra Classic (LUNC) After the UST De-Peg Collapse?

Lunc Daily
-
0
What is the Current Value Proposition of Terra Classic (LUNC) After the UST De-Peg Collapse?

The collapse of UST in 2022 was one of the most dramatic events in crypto history, leaving many to question the future of Terra Classic (LUNC). While the algorithmic stablecoin model failed, the chain itself did not disappear. Today, Terra Classic continues to hold a distinct value proposition, driven by its resilient community, active development, and ongoing utility within the broader Cosmos ecosystem.

One of Terra Classic’s core strengths is its fully functional blockchain infrastructure. Despite the loss of UST’s peg, the network still supports smart contracts, decentralized applications (dApps), and staking. Validators and delegators secure the chain, with users earning staking rewards in LUNC while contributing to decentralization and governance. This makes LUNC more than just a speculative asset—it remains a working layer-1 blockchain.

Governance is another area where Terra Classic remains active. The community frequently votes on proposals to guide the chain’s future, from parameter adjustments to major technical upgrades. These decisions demonstrate that the ecosystem is not abandoned; it is evolving under decentralized leadership.

Additionally, Terra Classic has retained compatibility with the Cosmos SDK and Inter-Blockchain Communication (IBC), enabling cross-chain functionality. Developers can still build dApps, leverage CosmWasm smart contracts, and explore interoperability with other chains. This makes the chain attractive for experimentation, especially with its lower transaction fees compared to larger networks.

Perhaps the most significant value proposition is the community itself. LUNC has one of the most passionate and engaged user bases in crypto, committed to revitalizing the chain through burns, staking, and grassroots initiatives. While Terra Classic may never return to its former role as a stablecoin hub, its continued utility as a decentralized, community-driven blockchain ensures it still has relevance in today’s crypto landscape.

Terra Classic Price Analysis: Why LUNC is Dropping and What Traders Should Expect Next

Adit 39
-
0
Terra Classic Price Analysis: Why LUNC is Dropping and What Traders Should Expect Next






Terra Classic Price Analysis: Why LUNC is Dropping and What Traders Should Expect Next


Terra Classic Price Analysis: Why LUNC is Dropping and What Traders Should Expect Next

LUNC USDT daily chart with marked support and resistance zones
Daily chart showing LUNC price action, support and resistance zones, and recent bearish reversal.

The Terra Classic community is watching closely as LUNC struggles to hold above critical support levels. After multiple failed attempts to break higher, the price is now consolidating near 0.00005300, leaving many traders questioning what comes next.

Technical Outlook for LUNC

The daily chart shows clear support and resistance zones shaping current price action.

Support: The immediate support lies between 0.00005100 – 0.00005200. If this area fails, LUNC could revisit the 0.00004900 zone, which would mark a new local low.

Resistance: On the upside, resistance levels are positioned at 0.00005700 – 0.00005800 and 0.00006150 – 0.00006300. A decisive breakout above these ranges is needed to change the momentum.

The recent bearish candlestick formation confirmed selling pressure, while the current defense at support suggests a possible short-term bounce. However, the overall market structure remains bearish to neutral until LUNC reclaims higher levels.

Why the Price is Down

The decline in LUNC is not happening in isolation. The entire crypto market is facing headwinds driven by global macroeconomic and sector-specific factors.

Stronger US Dollar and Federal Reserve Policy

A stronger dollar and uncertainty around interest rate cuts are creating pressure across risk assets. This limits liquidity in speculative markets, including cryptocurrencies.

Bitcoin Struggles to Hold Gains

Bitcoin has failed to sustain above its resistance zones, leading to weakness across altcoins. As a high-volatility token, LUNC reacts more sharply to Bitcoin downturns.

Weak Community Momentum

Terra Classic burns and ecosystem updates have slowed compared to earlier periods. With lower staking participation and moderate validator rewards, investor confidence has softened.

Altcoin Market Rotation

Traders and funds are shifting capital toward stronger Layer 1 projects like Ethereum and Solana, as well as AI-focused tokens. This rotation leaves LUNC more vulnerable during periods of risk-off sentiment.

What Traders Should Expect Next

Short Term: As long as 0.00005200 support holds, a bounce toward 0.00005700 – 0.00005800 is possible. A break below would likely push the price down to 0.00004900.

Medium Term: Momentum will remain weak unless LUNC can reclaim 0.00006150 and sustain above it.

Long Term: Future rallies depend on stronger fundamentals such as consistent burn mechanisms, improved validator activity, and new ecosystem utilities. Without these, any recovery may remain speculative.

Conclusion

The current Terra Classic price analysis highlights a market under pressure, shaped by both technical resistance and broader macroeconomic challenges. For experienced traders, this level may present accumulation opportunities with tight risk management. However, for long-term investors, sustainable growth depends on whether the LUNC community and developers can deliver fresh utility and stronger fundamentals.


Rejected: Terra Classic Community Shuts Down USTD Stablecoin Proposal

Adit 39
-
0
Rejected: Terra Classic Community Shuts Down USTD Stablecoin Proposal


Terra Classic Community Rejects USTD Stablecoin Proposal

Proposal #12192, which proposed a decentralized, fully automated yield-bearing stablecoin named USTD, has been rejected by the Terra Classic community.

The Terra Classic community has spoken. Proposal #12192, which aimed to introduce a decentralized and fully automated yield-bearing stablecoin called USTD, has officially been rejected.

The proposal generated strong debate, with over 54 comments from both validators and delegators. Despite a significant turnout of 70.53%, the final results fell short of approval.

Voting Results

Voting results chart for Terra Classic Proposal #12192
Visual representation of Proposal #12192 voting outcome
Yes
22.56% (152.63B LUNC)
No
46.00% (311.20B LUNC)
No with veto
5.63% (38.11B LUNC)
Abstain
25.81% (174.61B LUNC)

To pass, the proposal required at least 50% approval. Combined support reached only 30.41%, falling well short of the threshold.

Community Reaction

Voting revealed a clear divide within the community. Many validators and delegators voiced concerns about the risks associated with launching another algorithmic stablecoin in the Terra Classic ecosystem. While a portion of the community viewed USTD as a potential tool to restore on-chain utility and activity, the majority prioritized stability and robust risk management over rapid experimentation.

What Comes Next

The rejection underscores the community’s cautious stance. Attention now turns to future proposals and whether upcoming initiatives can strike a balance between innovation and trust. Developers and proposers will likely need to present stronger safeguards and clearer risk mitigations if they hope to win broader support.

Note: This summary reflects the official voting outcome and community commentary recorded during the Proposal #12192 discussion.


This moment is a wake up call for Luna Classic! — China and South Korea Launch New Stablecoins

Adit 39
-
0
This moment is a wake up call for Luna Classic! — China and South Korea Launch New Stablecoins



China and South Korea Launch New Stablecoins — This moment is a wake up call for Luna Classic

Two of Asia’s biggest economies are moving fast in digital finance. China and South Korea have both launched new stablecoins that could change how global trade and payments are done.

At the Belt and Road Summit in Hong Kong, fintech company AnchorX introduced AxCNH, a stablecoin linked to the offshore Chinese yuan. Just one day later, South Korean custodian BDACS announced KRW1, a stablecoin backed by the Korean won and built on the Avalanche blockchain.

What is AxCNH

AxCNH is designed to make cross border payments faster, cheaper, and more transparent. It is fully backed by reserves in cash or government debt that are held by licensed custodians.

The goal is to support trade across the Belt and Road Initiative, which connects China with partners in Asia, the Middle East, and Europe. AnchorX calls AxCNH the first licensed offshore yuan stablecoin, showing China’s interest in expanding its currency influence through digital assets.

What is KRW1

KRW1 was introduced by BDACS in South Korea. It is still in a proof of concept stage, but each KRW1 is backed one to one by reserves stored at Woori Bank, one of the country’s largest financial institutions.

Woori Bank provides real time verification through an API system, which allows users to confirm that KRW1 is fully backed. Built on the Avalanche blockchain, KRW1 is designed for payments, remittances, and even government services such as emergency funding.

Why Not Luna Classic

For the Luna Classic community, this news raises a serious question. Luna Classic already has its own stablecoins, such as KRTC for the Korean won, CNTC for the Chinese yuan, and HKTC for the Hong Kong dollar.

So why did South Korea choose Avalanche instead of using the Luna Classic blockchain for KRW1

The answer is governance. At the moment, Luna Classic is seen as lacking professional leadership and strong coordination. Without a clear and trusted system, it is difficult for major projects or governments to use Luna Classic for something as important as national stablecoins.

What the Community Must Do

This should be a wake up call for the Luna Classic community. If China and South Korea had chosen Luna Classic for their new stablecoins, the impact on LUNC would have been huge. Trading volume would rise sharply and Luna Classic could have become part of the financial backbone of Asia.

China is already the second largest crypto holder in the world, while the Korean won is one of the top five currencies traded against Bitcoin. Missing this chance shows that Luna Classic needs major reforms.

For LUNC to stay relevant, the community must focus on building professional governance, strong leadership, and a long term strategy. Only with real change can Luna Classic position itself as a serious choice for global projects and avoid being left behind.

Fact check note Two projects cited are AxCNH by AnchorX and KRW1 by BDACS. AxCNH is described as an offshore yuan stablecoin introduced at the Belt and Road Summit. KRW1 is reported as a won backed stablecoin issued in a proof of concept stage with reserves held at Woori Bank and issued on the Avalanche network.



What Makes Terra Classic’s WASM Environment Unique for dApps

Lunc Daily
-
0
What Makes Terra Classic’s WASM Environment Unique for dApps

In the evolving world of blockchain development, Terra Classic’s WASM (WebAssembly) environment stands out as a powerhouse for building decentralized applications (dApps). Powered by CosmWasm, this setup offers developers a robust, efficient platform tailored for high-performance smart contracts on the LUNC network. But what exactly sets Terra Classic’s WASM apart from competitors like Ethereum’s EVM?

First, its Rust-centric design is a game-changer. While WASM theoretically supports multiple languages, Terra Classic recommends Rust for its mature libraries and tooling, ensuring secure, memory-safe code that’s less prone to vulnerabilities. This focus streamlines dApp creation for DeFi protocols, NFTs, and yield farming apps, as seen in ecosystem staples like Terraswap and Mirror Protocol. Developers upload bytecode to get a code ID, then instantiate contracts with unique addresses that hold funds—promoting efficient storage through shared logic and varied configurations.

Security is another hallmark. The Wasmer runtime provides a lightweight, sandboxed execution environment with metered gas fees, preventing resource abuse and enabling precise computation costing. This contrasts with less deterministic VMs, making Terra Classic’s WASM ideal for production-grade dApps where predictability matters. Recent upgrades, like the v2.1.1 parity patch, align it with Cosmos chains, allowing seamless IBC interoperability and easier dApp migrations from Terra 2.0.

LocalTerra simplifies testing with a private WASM-enabled testnet, reducing deployment friction. Add oracle integration for real-world data feeds, and you’ve got a developer-friendly ecosystem that’s resilient post-2022’s challenges. For aspiring builders, Terra Classic’s WASM isn’t just unique—it’s a blueprint for scalable, interoperable dApps in the Cosmos universe.

1...414243...94Page 42 of 94