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The heated debate is centered around USTC burns, with most of the malfunctioning stablecoin located in a banned crypto wallet.

After Do Kwon abandoned LUNC and USTC (formerly UST) and established a new Terra (LUNA) chain, the Terra Classic community, comprised of dedicated validators and developers, made numerous efforts to revive LUNC and repeg USTC. This year, Terra Classic ecosystem tokens LUNC and USTC backed by the dedicated community have outperformed Terra (LUNA) substantially.

While the Terra Luna ecosystem battles to recover, the LUNC community votes to burn all USTC stablecoins. The decision comes as the project saw renewed interest in the plan to burn over 8 million USTCs from the Risk Harbor Wallet, which lost security keys. The community accepted to blacklist the crypto wallet.

In a recent development, the Terra Luna Classic (LUNC) community actively participated in voting on a proposal to burn all USTC (Terra USD) stored in the community pool. This decision is part of ongoing efforts to revitalize the chain and stimulate recovery in ecosystem tokens.

LUNC News: Terra Luna Classic community votes on a proposal to burn all USTC in the community pool, as part of efforts to revive the chain and bring recovery in ecosystem tokens. The move comes amid the renewed narrative to burn 800 million USTC from Risk Harbor Multisig Wallet, which sits idle as the project

In May 2022, the stablecoin TerraClassicUSD (USTC) plummeted over 99.9% because of a liquidity run after the token slightly lost its $1 peg. The token used an algorithm to continuously buy and sell USTC as well as its native token TerraLuna (LUNA).

The LUNC community has received a proposal from Genuine Labs, a group of experienced developers who aim to contribute to the Terra Classic ecosystem, something that could help revive the USTC and LUNC tokens. What The Latest LUNC Proposal Is About According to the proposal titled ‘Genuine Labs Terra Classic Development Proposal,' the developers who boast extensive experience in Cosmos stacks aim to work with L1 teams to improve the IBC Hooks and Packet Forward Middleware (PFM) features.

With many governance proposals related to updates, burn, staking, and others passed, some key Terra Luna Classic community members and validators believe it is imperative to bring back builders on the chain to revive LUNC and repeg USTC to $1. Tax2Gas — incorporating the tax into the gas and removing the need for separate handling

In the ever-evolving world of cryptocurrencies, Terra Luna Classic, a notable community member and validator named VegasMorph, has set tongues wagging with a groundbreaking proposal. The suggestion to burn a substantial 8 million TerraClassicUSD (USTC) from the community pool has sparked curiosity and debate within the Terra Luna Classic community.

The Terra Classic community led by the L1 Task Force (L1TF) and network validators have continued to devise ways to restore USTC to its dollar peg. As part of their endeavors, they recently introduced a new proposal, which is currently undergoing voting.

In a significant move, VegasMorph, a key validator and member of the Terra Luna Classic community, has proposed burning the entire 8 million TerraClassicUSD (USTC) currently residing in the community pool. This proposal aligns with the broader discourse on burning 800 million USTC from the Risk Harbor Multisig Wallet, a concept initially suggested by VegasMorph.

A popular Terra Luna Classic community member and validator VegasMorph has come up with a proposal to burn all 8 million TerraClassicUSD (USTC) in the community pool. The move comes amid the renewed narrative to burn 800 million USTC from Risk Harbor Multisig Wallet, which was also initially suggested by VegasMorph.

LUNA, LUNC, and USTC, tokens backed by the Terra ecosystem, recently amassed noteworthy attention among crypto market enthusiasts globally as the tokens witnessed a sudden price jump today. The upward trajectory portrayed by the tokens comes in alignment with the recent decision by the Montenegro Appeals Court on Do Kwon's legal chronicle.

Lunanauts, a LUNC validator, recently revealed the community's plans to forge ahead with a collaboration aiming to build up further support for the LUNC cryptocurrency. The announcement, coming to light on Monday, amassed significant attention within the broader crypto market as it came amid a price fall noted by the token.

Back in August 2023, the Terra Classic community passed a proposal that would see 800 million USTC incinerated. This move came about as the community worked to help the token recover and be re-pegged back to the US dollar.

The cryptocurrencies backed by the Terra Classic ecosystem, LUNC and USTC, recently amassed noteworthy attention among crypto market fanatics as the tokens showcased significant upward market trajectories on Thursday. Moreover, the rise in prices comes amid the colossal burning of USTC, stirring speculations across the broader crypto market.

LUNC News: Terra Luna Classic community contemplating to burn 800 million USTC stablecoins again. A validator suggested a legally possible route to burn 800 million USTC from the Terra Luna Classic treasury, held in the Risk Harbor Multisig Wallet through a contract.

The Terra Luna Classic community votes on another proposal related to burning 800 million TerraClassicUSD (USTC). The proposal aims to burn funds from the Risk Harbor (formerly Ozone Protocol) multisig wallet through an update to Terrad client.

From December 5 onwards, the values of Terra Classic (LUNC) and TerraClassicUSD (USTC) took a notable nosedive, raising concerns in the industry about the future of these Terra Classic cryptocurrencies. LUNC and USTC Make a Comeback: Recent Performance Analysis After experiencing significant price declines since December 5, both Terra Classic (LUNC) and TerraClassicUSD (USTC) staged a notable comeback entering the new week.

The Terra Luna Classic community has burned 85 billion LUNC since May 18, 2022. This is another milestone in the community's efforts to reduce the circulating supply of LUNC.

In a pivotal move within the Terra Luna Classic ecosystem, the core developer L1TF has successfully executed the v2.3.2 upgrade, aiming to resolve a sequence mismatch issue that had affected some validators. The update, deployed at block 15751600 on December 8 at 12:38 UTC, marks a significant step forward for the Terra Classic chain, initiating a series of enhancements intended to stabilize operations and bolster community confidence.

The Terra Luna Classic community has passed another key proposal as they prepare for a revival of Terra Luna Classic (LUNC) and repeg USTC stablecoin to $1. The proposal aimed at having a guideline for a pay-per-job approach on the Terra Classic chain as core developer L1TF goes into maintenance mode for Q4.

The tumbling network has no major update Terra land is having its winter fall. In a pivotal moment for the Terra Luna Classic network, a contentious proposal sought to decrease the number of validators, sparking a heated debate within the community.

Crypto exchange BitMEX, co-founded by billionaire Arthur Hayes, has announced a plan to list Terra Classic (LUNC) perpetual contract. The move came amid a massive three-digit rally in Terra Classic tokens LUNC and USTC.