Terra Luna Classic (LUNC) is celebrating a significant boost after successfully implementing a crucial upgrade known as the Tax2Gas feature. This enhancement was backed by unanimous support from the community, with the proposal for the v3.1.6 update receiving 100% approval. The achievement is viewed as a pivotal step towards improving transaction speed and fortifying the security of the ecosystem.
What Does the v3.1.6 Update Include?
The recently released v3.1.6 update incorporates vital improvements, including a security fix for the WebAssembly Virtual Machine (wasmvm). By updating the wasmvm version to 1.5.5, the network’s defense against potential threats has been significantly enhanced. Additionally, a new feature for simulating transaction fees has been introduced, optimizing transaction management throughout the network.
How Did the Update Affect LUNC’s Price?
Following the successful completion of the update, LUNC’s value surged by over 6%, reaching $0.00008679. The trading volume also saw a 22% rise, amounting to $20.05 million, with a peak at $0.00008804 within the last 24 hours. Developer StrathCole emphasized that this update is essential for the Tax2Gas feature and noted the strong support it received from both community members and validators.
- The v3.1.6 update includes key security enhancements.
- LUNC’s price increased significantly post-update.
- The community’s unanimous support signifies strong backing for future developments.
This update comes at a crucial moment, aiming to restore investor trust in Terra Luna Classic. The anticipated Tax2Gas system is expected to simplify transaction fee taxation, ultimately promoting LUNC’s future growth and operational efficiency.
In addition to LUNC, the price of USTC also rose by over 7%, reaching $0.02188, with trading volume increasing by 106% to $49.81 million. This upgrade reflects the community’s commitment to enhancing the overall efficiency and security within the Terra ecosystem.