Terra Classic community members have been jointly working for the recovery of the imploded digital token LUNC. Developers, validators, and projects have summited various proposals that can boost the utility of the blockchain, which is expected to enhance the price in the long run.

The price of Terra Classic (LUNC) dropped below the $0.00015 region following the collapse of the crypto exchange FTX. However, the price has started to showcase signs of price recovery as the Terra Classic community sees an increase in the number of LUNC staked and burned.

After the Terra Classic v22 upgrade was successfully deployed to enable governance changes, staking, and LUNC burn, Terra Rebels introduced the v23 upgrade.

Terra Classic v23 aims to re-enable inter-blockchain communication (IBC) ) between Cosmos blockchain and the imploded ecosystem, which was disconnected in the middle of the UST depeg fiasco to prevent further damage.

The developers will reopen the IBC channels at block 10,542,500, estimated on December 5. Thus, allowing trapped assets to flow through the channels, with most assets trapped on Osmosis. However, it will not take effect until the v23 network upgrade rollout.