The Terra Classic (LUNC), the project that spun out of the collapsed Terra ecosystem, is set to undergo a number of important upgrades as governance proposals get approved by an overwhelming community vote. With the most recent one being on January 14, some of the major crypto exchanges have partaken in the upgrade. To support the developing activities on the chain, Terra Rebels, the offshoot development community have shown interest in re-building the infrastructure; to much of the community’s dismay.

In the announcement that was made on Friday, Binance revealed that it would be supporting the Terra Classic (LUNC) network upgrade. The upgrade which will be taking place on epoch 15,029 is a result of the LUNC community voting to pass Proposal 11242 which eliminates the re-minting of a portion of the burn tokens. 

The governance voting results on Proposal 11242 in the Terra Classic community prove that re-minting 10% of burned LUNC at the end of each epoch was a step backward in the project’s revitalization movement.

According to a key developer at Do Kwon’s TerraForm Labs, Jared, Terra Classic (LUNC) will be integrated into Terra’s new wallet — the Interchain Station.

The launch of the Terra Classic DEX is fast approaching.

The price of Terra Classic (LUNC) rose nearly 3% in the past few minutes following the news of a major development slated to take place on the network. This comes after Jared, who recently served as the liaison for TFL and the LUNC community, asserted that the Terra Classic network stands to gain significantly from the new “breakthrough in chain integrations”.

In a tweet, TerraCVita, an independent Terra Classic development group, announced that it has raised $1 million in funding for its decentralized finance project dubbed “Terraport.”

The Terra Classic community has set eyes on increasing the burn rates for Terra Classic (LUNC) tokens as the LUNC burn rates dropped in December. Moreover, crypto exchange Binance temporarily suspended its LUNC burn mechanism until March and reduced the burn amount to 50% have also affected the LUNC burn rates.

Edward Kim, Terra Classic developer and associate professor at Drexel University, has proposed eliminating the existing canonical repository for the Terra Classic blockchain. If the proposal passes, code changes made by developers will not be overseen by a central authority but by the active validator set, further promoting decentralization.

Crypto exchange KuCoin on December 30 undelegated all 48 billion Terra Classic (LUNC) tokens. This led to the Terra Classic validator KuCoin fall in voting power down to 0.21% and rank to 44th on the validator list.