The Terra Classic (LUNC) developer group Joint L1 Task Force announced the Q2 plan and goal dates for network upgrades, governance ideas, and other items on Saturday. The Cosmwasm v1.1.0 upgrade (parity) is scheduled for May, allowing projects and builders spanning Cosmos and Terra Luna 2.0 to once again build on the Terra Classic chain.
This will be a significant boost to the community's plan for the restoration of LUNC and USTC. The community is hoping for a $0.0005 short-term aim and a $1 long-term target.
Terra Classic Network Will Be Significantly Improved
After core developers professor Edward Kim and Tobias "Zaradar" Anderson left the Joint L1 Task Force developer group, the community wonders if the new developer team can handle Terra Classic's responsibilities and meet deadlines.
Joint L1 Task Force project manager LuncBurnArmy disclosed the amended timeframe for the Q2 roadmap and milestones in a Medium post on April 29.
The developer team plans to upgrade the mainnet network to v2.0.0 on May 17. To finish the renovation on schedule, a proposal will be presented on agora for voting. While only a few validators have agreed to join the testnet, the developer team intends to upgrade the Cosmos SDK and the Rebel-2 testnet using Tendermint.
Cosmos SDK v0.45.11, Tendermint v0.34.24, Cosmoswasm 1.1.0 (Parity), IBC to Kujira, Cross-chain liquidity evaluation, and Tendermint to Comet BFT evaluation are among the key Q2 deliverables. The projects will be completed within budget, and any excess monies will be returned to the community pool at the conclusion of the quarter.
The Cosmwasm 1.1.0 Parity update is scheduled for May 31. It will restore functionality to the Terra Classic network by allowing projects and builders from Cosmos and Terra Luna 2.0 to build on the Terra Classic chain once again.
“Due to the Senior Cosmos developer starting ~2 weeks into the quarter, as well as Superman not returning until the same time, we should be positioned to finish the quarter under budget.”
LUNC And USTC Prices To Reach $1?
The price of LUNC has increased by 2% in the last 24 hours, and it is currently trading at $0.000111. Meanwhile, USTC has increased by 10% in the previous 24 hours to $0.0213.
The most recent upward movement occurred as the Terra Classic community voted on a proposal to repeg the USTC stablecoin to $1. However, major validators have objected to the proposal due to the repeg terms.
To restore LUNC and USTC to $1, the community must work tirelessly for several months. According to the Terra Classic Revival Roadmap, development is still in its early stages.