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- The upgrade is expected to be implemented on the mainnet in early September according to the team.
- L1TF has recommended against the LUNC cap proposal as it serves as the primary source of revenue.
The L1 Terra Classic Task Force (L1TF) has provided an update regarding the core upgrade of the chain to version v2.2.0. Following a week of testing on the rebels-2 testnet, the upgrade is anticipated to go live on the mainnet in early September.
Developer Vinh Nguyen from the L1 Terra Classic Task Force (L1TF) shared on Twitter that the team has completed Sprint 2 (August 8-21). After the release of core v2.2.0 rc1, the team will work alongside front-end and contract groups on the rebels-2 testnet to ensure compatibility with earlier versions.
The report indicates that the coding work for the v2.2.0 core update is finalized, which includes the cosmos SDK upgrade to SDK 46, the transition of tendermint to CometBFT, the upgrade of IBC-go to version 6, and the implementation of wasmd.
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LUNC Cap Proposal
L1TF has also evaluated the LUNC cap proposal, which would restrict the chain from minting new LUNC with each new block. However, this is the primary revenue source for the community pool, as well as for its delegators and validators. Due to the potential disruption it may cause to the chain, L1TF advises against this modification.
The functioning of USTC swaps will also be impacted. If there is a cap on the supply of LUNC, no LUNC will be available to a trader in exchange for USTC. The L1TF is also monitoring the progress of community-owned services such as Station, Finder, and Wallet.
Furthermore, after experiencing a decline alongside the broader cryptocurrency market recently, the values of Terra Luna Classic and USTC may rebound with forthcoming developments.
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