LUNC News:<\/strong> Terra Luna Classic community has unanimously approved a key proposal to update the interblochain communication<\/a> (IBC) client between Terra Classic and Kujira (from 07-tendermint-178 to 07-tendermint-246), allowing the connection between the two chains to work again. This improves Terra Classic revival effort by increasing liquidity and freeing frozen funds.<\/p>\n Proposal 12099 \u201cRestore IBC to Kujira<\/strong>\u201d has surpassed pass threshold and received overwhelming support from the Terra Luna Classic community. The RakoffToken team proposed to re-enable IBC client 07-tendermint-178 connection between Terra Classic and Kujira.<\/p>\n <\/p>\n The proposal has received 99.99% of the votes in favor from the community, indicating the unanimous support from the community in restoring the lost connection between chains through inter-blockchain communication (IBC). Validators also showed unwavering support with all 57 participants including Allnodes, Interstellar Lounge, HappyCattyCrypto, Luna Station 88 voted \u201cYes\u201d.<\/p>\n As reported by CoinGape, the IBC client 07-tendermint-178 will be upgraded to IBC client 07-tendermint-246 to restore the connection between the blockchains and free up frozen funds.<\/p>\n Meanwhile, the community has also approved multiple proposal Genuine Labs\u2019<\/a> proposal to decrease MaxBlockSize from 5mb to 2mb as an initial security measure to counter peer-to-peer spam, increasing minimum commission for validators<\/a> to 2.5%, and changing the reward share distribution of the burn tax<\/a>.<\/p>\n <\/p>\n <\/p>\n Also Read: Terra Luna Classic Community Revises LUNC Burn Tax<\/a><\/strong><\/p>\n LUNC price<\/a> jumped 5% in the last 24 hours, with the price currently trading at $0.0001076<\/span>. The 24-hour high and low are $0.0001039 and $0.0001145, respectively. Moreover, trading volume increased by 80% in the last 24 hours, indicating a rise in interest among traders. The community remains confident on LUNC price hitting $1.<\/p>\n Terra Luna Classic (LUNC) futures open interest has climbed by over 10% across exchanges in the last 24 hours, Coinglass. Whereas, 1000LUNC futures OI has jumped 16% on Binance and Bybit in the past 24 hours as Terraform Labs (TFL) announced to restrict access to some Terra products and features from users in the US.<\/p>\n <\/p>\nTerra Classic Community Approves Proposal for Liquidity<\/h2>\n
LUNC Price Jumps 5%<\/h2>\n
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