Both the community and investors of Terra Classic (LUNC) are confident that the value of the token will climb high in December following developers and validators have expressed various encouraging proposals that are able to restore the price.
The latest development, Terra Rebels has introduced a v23 upgrade after Terra Classic v22 to allow inter-blockchain communication (IBC)* between the Cosmos blockchain and the LUNC ecosystem.
*An open source protocol used to pass messages between distributed ledgers, linking blockchains to one another.
According to Edward Kim, the main developer and program director of the Terra Grants Foundation (TGF) revealed that the community will be surprised with various good news as there are several new projects on the network that will be implemented after the v23 upgrade.
He added that his proposal to re-enable the three IBC channels for Cosmos Osmosis, Crescent and Juno based chains is said to have been approved within 9 hours only.
As such, the developer will reopen the IBC channel at block 10,542,500 on December 5 to allow the assets trapped in Osmosis to flow out through the channel.
Meanwhile, Edward Kim also submitted Proposal 10946 to distribute 750 million LUNC tokens to developers and validators who wish to support LUNC.
While the community is confident that the price of LUNC will climb high in the near future following the entire reform that can increase its utility and not forgetting Binance which will burn 20 to 25 billion LUNC tokens on December 2.
As of this writing, LUNC price is hovering at the $0.0001557 zone in the last 24 hours with a daily burn rate of over 402 million tokens per day.
