ChainCatcher message, Binance is expected to suspend token deposits and withdrawals for Terra Classic (LUNC) on December 17, 2024, at 19:57 (UTC+8) to support its network upgrade.The project team will perform the network upgrade at block height 21,163,600 (expected on December 17, 2024, at 20:57 UTC+8).

ChainCatcher message, according to the ranking surge data from the Web3 asset data platform RootData, as of October 14 at 5 PM, Terra Classic has risen by 703 ranks, placing it first; Blackwing has risen by 639 ranks, ranking second; Alliance Games has risen by 616 ranks, coming in third.Additionally, the Web3 asset data platform RootData shows that Terra is a decentralized financial infrastructure designed to power currency innovation. Terra provides foundational building blocks for the new digital economy through its decentralized algorithmic stablecoin protocol, oracle system, smart contracts, and large-scale user adoption plans.It is reported that RootData has launched the first "Web3 Hot Projects Ranking." This popularity ranking helps users capture the real pulse of attention and improve the accuracy of investment decisions through 4.3 million real user behavior data. The ranking is calculated in real-time based on the weighted frequency of searches by platform users, project click rates, user votes, as well as the popularity and influence on platform X.

ChainCatcher message, according to the popularity index ranking data from the Web3 asset data platform RootData, as of October 14 at 12:00, the top five projects in the Web3 popular projects Top 100 are: Aleo, Scroll, Sui, CARV, and Ithaca.Additionally, Terra Classic has seen the largest ranking increase, rising 803 places overall.It is reported that RootData has launched the first "Web3 Popular Projects Ranking." This popularity ranking helps users capture the real pulse of attention and improve the accuracy of investment decisions through 4.3 million real user behavior data. The ranking is calculated in real-time based on weighted factors such as search frequency, project click rates, user votes, and the popularity and influence on the X platform.

ChainCatcher news, according to the official announcement, Binance is expected to suspend token deposits and withdrawals for Terra Classic (LUNC) on September 18, 2024, at 18:15 (UTC+8) to support its network upgrade. The project team will perform the network upgrade at block height 19,850,000 (expected on September 18, 2024, at 19:15 UTC+8).

ChainCatcher news, according to DL News, dozens of DeFi users and members of the Terra Classic community have accused Andalusia Labs, behind the DeFi protocol Karak, of stealing 200 million USTC tokens (worth about $7 million at the time) from the Terra ecosystem months after the collapse of the Terra ecosystem in 2022.It is reported that the Terra Classic vote requested the return of funds used to provide insurance for UST through Ozone, recovering 800 million USTC controlled by the Terra community's multi-signature wallet. Karak responded that the tokens were "granted" by the Terra Foundation, did not involve user funds, and did not acknowledge the governance proposal requesting their return.

ChainCatcher news, according to the governance page, the Terra Classic (LUNC) community voted to pass the proposal to "destroy 800 million USTC through contract migration."

ChainCatcher news, according to The Block, the Terra Classic (LUNC) community voted to stop all minting of Terra Classic USD (USTC), which was originally named UST. The proposal passed with a 59% approval rate and aims to protect "the community and external investors that are destroying USTC to help restore the peg."According to data from LUNC Metrics, the community has only destroyed 75 billion tokens so far, which is about 1% of nearly 6 trillion circulating tokens. USTC is currently priced at $0.012.

ChainCatcher news, the Terra Grant Foundation (TGF) website shows that Terra core developer Edward Kim stated that TGF plans to seek external funding for Terra Classic (LUNC) developers, projects, and proposals. As part of this transition, the multi-signature wallet controlled by Edward Kim, TGF project manager Marco Ferreira, and Jagmot will be discontinued, to be replaced by an official TGF wallet owned by the TGF entity. In addition, TGF also plans to discuss with existing donors in the coming weeks to reach a consensus on the donated funds. (Source link)

ChainCatcher news, the Terra Classic L1 Joint Task Force (L1JTF) team has upgraded the rebel-2 testnet to version 2.0.0. This upgrade uses Cosmos SDK v0.45 and introduces several new features to enhance its functionality and security. The Terra Classic community also supports the promotion of the revitalization plan for this project.The team's part-time developer Till stated that this could facilitate the transition of the Terra Classic mainnet to version 2.0.0. He revealed that only six validators (including takeBin, Lunanauts, Allnodes) participated and successfully upgraded. Some enthusiasts of the project (such as reXx) expressed concerns about the number of validators involved in the development, pointing out that the number should reach 30. After the successful upgrade of the testnet, L1 team project manager LuncBurnArmy has submitted a proposal to upgrade the Terra Core mainnet to version 2.0.0. (source link)

ChainCatcher news, the Terra Classic independent development team TerraCVita is seeking community opinions and plans to seek funding support from Binance's "industry recovery plan," which has currently received the consent of the majority of the community. Terra Classic validator BetterLunc also supports the proposal and emphasizes that Binance has always been committed to helping DeFi projects.According to previous news from ChainCatcher, TerraCVita completed a $1 million financing in January this year, aimed at promoting the development of its decentralized finance project "Terraport." Binance announced the launch of a $1 billion "industry recovery fund" last November, which will be entirely in BUSD; in February this year, the fund completed its first transfer of nearly $15 million. (source link)

ChainCatcher news, the Terra Classic community proposal 11324 "Re-peg LUNC to USTC" has been approved. This proposal outlines an actionable framework for the LUNC community to rebind USTC from the code level, consensus level, and guidelines.It is reported that this proposal is a signaling proposal, and the specific actionable plan will be executed through the Terra Community Trust 23 guidelines, with the ultimate goal of restoring the value lost during the "de-pegging" event in May 2022, while simplifying the burning process of LUNC.According to CoinMarketCap data, as of the time of writing, the price of USTC has surpassed $0.03, with a 24h increase of over 30%. Terra Classic (LUNC) has surpassed $0.0002, with a 24-hour increase of 17.5%. (source link)

ChainCatcher news, the Terra Classic community has voted to pass proposals 11242 and 11243 to increase the LUNC burn rate. These two proposals aim to fund the community pool by setting the mint tax reward policy to zero and increasing Gas fees by 5 times, thereby preventing the re-minting of Terra Classic (LUNC) tokens.Specifically, proposal 11242 will set the mint tax reward policy to zero, effectively preventing LUNC from being re-minted from burns. This proposal received 95.98% of community votes in favor; proposal 11243 will increase Gas fees by 5 times, with 50% of transaction fees going into the community fund pool for developer funding. This proposal received 90% in favor and 11% against. (source link)

ChainCatcher news, according to thecryptobasic, the independent development team of Terra Classic, TerraCVita, announced the completion of a $1 million funding round aimed at promoting the development of its decentralized finance project "Terraport." The project plans to launch a community decentralized trading platform Terra Community DEX, which is expected to go live in the first quarter of 2023. (Source link)

Chain Catcher news, Terra Classic (LUNC) core developer Edward Kim proposed to remove the stablecoin trading module of Terraswap. Previously, the Terra Classic ecosystem had stablecoins pegged to 23 fiat currencies. Due to the collapse of the Terra ecosystem, although trading between LUNC and these stablecoins has been disabled, trading among these Terra stablecoins can still occur through their "Terra-to-Terra" module. (Source link)

Chain Catcher news, Binance announced support for the Terra Classic transaction fee burn mechanism, and will send all transaction fees from LUNC spot and margin trading pairs to the LUNC burn address.Binance stated that the amount to be burned in the first batch will be calculated based on the trading volume from September 21, 8:00 AM Beijing time to October 3, 7:59:59 AM. Transaction fees for LUNC spot and margin trading pairs charged in tokens other than LUNC (such as USDT, BUSD, and BNB) will be converted to LUNC at Binance's real-time price every Monday at 8:00 AM Beijing time.In addition, Binance stated that from September 21, 8:00 AM to September 27, 8:00 AM Beijing time, the fee rebates for LUNC spot and margin trading pairs under the Binance Spot Liquidity Provider Program will not be counted towards the burn amount. The LUNC burn mechanism will not affect BNB fee discounts, fee rebates, or any other forms of fee adjustments or discounts. The Binance Spot Liquidity Provider Program will suspend fee rebates for LUNC spot and margin trading pairs starting from September 27, 8:00 AM Beijing time. (Source link)

Chain Catcher news, Terra yield aggregator Apollo announced that it will close its Terra Classic vault. Apollo stated that since the collapse of Terra, the return rates have been low and the required maintenance level has been high, making support for the Terra Classic network no longer meaningful. Apollo urged all Apollo users on Terra Classic to withdraw all funds before the introduction of Terra Tax, and Apollo will introduce a "Withdraw All" button to simplify the process. In the future, Apollo will focus on launching liquid staking and Apollo Safe on various Cosmos chains. (Source link)