Terra Luna Classic Developer Group Reports Q2 Status and Plans for LUNC and USTC Circulating Supply Reduction in Q3

The Joint L1 Task Force (L1TF) of Terra Luna Classic core developers has released a Q2 status update, outlining their ongoing work and plans for Q3, which includes reducing the circulating supply of LUNC and USTC. The community pool has started refilling after dropping to low levels.

However, some members of the community have raised concerns that validators have stopped contributing to the LUNC burn campaign since Binance restored its LUNC burn mechanism in March. The L1TF is currently working on upgrading Astroport's smart contract and stabilizing things impacted by the CosmWasm Parity upgrade. The LUNC price is currently trading at $0.000081.

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