Terra Luna Classic Major Move: The Impact of Osmosis Fork on LUNC and USTC Prices

The post Terra Luna Classic Major Move: The Impact of Osmosis Fork on LUNC and USTC Prices appeared first on Coinpedia Fintech News

As Per the latest news, Terra Luna Classic’s L1TF developer, Vinh Nguyen, has forked the Osmosis test tube to enhance Astroport functionality and test upcoming upgrades, including an 800 million USTC burn. This development aims to fortify the Terra Classic ecosystem and positively impact LUNC and USTC prices.

Astroport Fixes and 800 Million USTC Burn

The Osmosis test tube fork serves a dual purpose – addressing Astroport fixes applied last month and facilitating testing for the significant 800 million USTC burn contract migration. These steps are crucial for optimizing Terra Classic’s liquidity protocol and stabilizing the value of USTC, the platform’s stablecoin.

Developers gain a valuable tool for integration tests of CosmWasm contracts and inter-contract interaction by forking the test tube. This empowers them to create more secure and robust smart contracts for Terra Classic, benefiting the broader community.

Impact on LUNC and USTC Prices

The Terra Classic community anticipates a positive trajectory for LUNC prices, with expectations of crossing $0.0002 soon. Despite a 7% weekly upswing, LUNC is currently trading sideways. 

Concurrently, USTC prices are responding positively to the 800 million USTC burn testing, currently at $0.02682. Increased trading volume indicates growing interest among traders.

Developer’s Insight

Terra developer Fragwuerdig, commenting on the fork, highlighted the test tube’s role in testing Astroport fixes and its broader application for testing contracts, especially CosmWasm smart contracts. The developer emphasized the tool’s significance in enabling seamless testing without the need for Go code, streamlining the development process.

With ongoing development activities and staking, the Terra Classic community is optimistic about the positive impact on LUNC prices.