Terra Classic Proposal 12193 Could Unlock Nearly 1 Billion LUNC Through Legacy Contract Execution
Proposal 12193, titled Re-Enable Legacy Contract Query Execution, is now open for voting on the Terra Classic network.
The proposal seeks to restore support for legacy CosmWasm contract queries that were disrupted during the v2.1.0 upgrade. If approved, the patch will bring back previously broken functionality, allowing developers and users to continue interacting with older smart contracts that remain active in the ecosystem.
Key findings from a node level patch test show:
- The patch allows transactions against these contracts to succeed again.
- Pools currently contain large amounts of locked liquidity.
- Example balances (rounded):
- LUNC/USTC pool: ~700M LUNC, ~6M USTC
- bLUNA/LUNC pool: ~150M LUNC
- MIR/USTC pool: ~6M USTC
- ASTRO/USTC pool: ~3.9M USTC
- kUST/USTC pool: ~2.9M USTC
- Across 465 identified Astroport contracts:
- ~27.4M USTC
- ~959M LUNC
Currently, these tokens are unreachable due to the broken execution path. This means traders cannot use those liquidity pools at all for native to native swaps, or can only execute transactions in one direction (cw20 ← native).
Re-enabling execution is expected to instantly reopen these pools, making the locked liquidity accessible again for trading and restoring normal market activity.
Community members and delegators are encouraged to review the full details and cast their votes before the voting period closes.
More information can be found here: Proposal 12193 – Re-Enable Legacy Contract Execution
