The Terra Classic community has started voting on another crucial Proposal 11310. The proposal is put forward by Terra Classic core developer Edward Kim to software upgrade the blockchain from v1.0.4 to v1.0.5.

Currently, the proposal has received nearly 99.99% votes in favor, indicating support for the proposal. The LUNC community has always supported proposals suggested by professor Edward Kim.

Terra Classic Community Votes on Proposal 11310

Terra Classic core developer Edward Kim submitted Proposal 11310 last week and updated it with the necessary changes. The proposal aims to software upgrade the Terra Classic blockchain to transition from v1.0.4 to v1.0.5. It will make transaction fees (gas and burn tax) estimation and future chain upgrade a lot easier and smoother.

Joint L1 Task Force consisting of Edward Kim, Tobias “Zaradar” Anderson, and other developers will fix the node’s LCD endpoint that corrects a calculation issue on the LCD. The upgrade is scheduled to happen at block 11,543,150, expected on February 14.

In fact, this is the first upgrade for the Terra Classic blockchain as per the Q1 roadmap. It will be followed by v1.0.6, Cosmos SDK, Tendermint, and v2.0.4 upgrades.

As per current voting details, 99.99% of voters support the proposal. Also, the proposal looks to reach the “pass threshold” before the set voting period. The proposal has received 21 validator votes until now and all have voted in favor of the proposal. Among the top validators, StakeBin, moonshot, and CryptoKing have voted “Yes” to the proposal.

Meanwhile, former Terra Rebels developer Duncan raised concerns over whether the Joint L1 Task Force team still has access to the Terra Rebels repo and which repo the validators have been using.

Also Read: Another Massive LUNC Tokens Burn By Terra Classic Community

LUNC Price Continues to Lose Pace

Terra Classic is losing its ranking on the top 100 crypto list. At present, Terra Classic has slipped to the 47th position as the LUNC price fails to rise.

LUNC price fell nearly 9% in the last 24 hours, with the price currently trading at $0.0001606. The 24-hour low and high are $0.000158 and $0.0001773, respectively. Meanwhile, the trading volume has increased by 37% in the last 24 hours, indicating a slight interest from traders.

Also Read: 5 On-Chain Indicators Signals Bitcoin Entering Bull Market Cycle

Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his knowledge about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a substantial period and is currently covering all the latest updates and developments in the crypto industry.

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