The Terra’s new chain Terra Classic (LUNC) developers are striving to regain the lost trust with their everyday new updates. Though the ride has been a difficult one since the crash of Terra (LUNA) in May, the community has not lost their hopes.
Now, the latest update comes with the release of TerraClassicUSD (USTC) re-peg proposal, put forward by Terra Classic developer, Tobias Anderson or Zardar.
This news has pushed the TerraClassicUSD (USTC) by 23% in the last 24hrs and is trading at $0.03609 currently. This momentum has also increased the currency’s market cap by 22% and the trading volume by more than 800% over the span of 24hrs.
peg offer again
Terra developers are working tirelessly towards getting the dollar peg back and once such a move is the core developer’s quantitative tightening to recover the dollar peg. Along with the current tax burn and increased staking rewards, the developer has added new features such as split pools, which will enable swaps to hedge against volatility. Through these split pools, startups in the network can issue new tokens that can be used for business activities.
Also, the pools are connected with Terra Classic (LUNC) for funding and however, the complete details are still awaited.
Meanwhile, Vegas, one of the most supported individual and developer of Terra Classic, has claimed slow support for the offer.
Also another Terra community’s influencer, Classy Crypto has claimed the re-peg proposal as one of the best.
However, with more details, the proposal is expected to be clarified.
