TLDR
- Terra Classic validators voted “YES” to activate the Market Module, supporting the link between $LUNC and $USTC.
- The Market Module 2.0 (no-mint version) aims to prevent hyperminting and stabilize the ecosystem.
- 50.36% of validators voted in favor, with a 64.15% turnout, achieving the required pass threshold.
- Testing of the Market Module will soon begin, with a two-phase process before its mainnet activation.
The Terra Classic blockchain is gearing up for its major v3.5.0 upgrade, which is scheduled for August 15, 2025. The upgrade follows on from the previous v3.4.0 release, which aimed at enhancing system efficiency, transaction speed, and security. The upcoming update promises to take those improvements further, with the highlight being the reactivation of the Market Module, a move that has received significant backing from the community.
A key aspect of the upgrade is the continued development of the Market Module, which will play a crucial role in the connection between $LUNC and $USTC. While the upgrade is on track, some parts of the process, such as the SDK 50.13 update, are still awaiting approval. If the SDK update is finalized in time, it will be included in the v3.5.0 rollout. The community and developers are focused on ensuring a smooth upgrade process, with testing of key components already underway.
Validators Approve Market Module Proposal: A Step Toward Stabilizing $LUNC and $USTC
On August 5, the proposal to activate the Market Module 2.0 (no-mint version) passed successfully, following a vote by Terra Classic validators. The proposal’s approval marked a pivotal moment for the blockchain. With a turnout of 64.15% of validators casting their votes, 50.36% voted “YES,” totaling 279,728 LUNC, which comfortably surpassed the required pass threshold.
The Market Module 2.0 aims to open without hyperminting, with mechanisms to throttle itself as the supply of tokens shrinks. This approach is designed to prevent manipulation or the printing of excess tokens through outdated or stale pricing data. The proposal introduces a new version of the Market Module, expected to help stabilize the Terra Classic ecosystem, particularly the value of $LUNC and $USTC.
Many users and validators expressed their enthusiasm over the proposal’s passage. One Terra Classic user shared,
“The vote shows the community’s desire for change, and we’re ready to test the new module.” Another noted, “No more waiting. Action is what we need.”
Testing Phase and Rollout Process for Market Module
With the vote completed, the next step is to begin testing the new version of the Market Module. The first phase will involve code merging for the testnet, with an estimated 500-1000 lines of code to be reviewed. This includes pool logic, customizable buttons, and a kill switch. Once these updates are merged and reviewed, the public testnet will begin, simulating different price conditions, including price increases and 10x burn bursts.
However, as of press time, the LUNC price was down 3.28% trading at $0.00005791. Per analysts and Coincentral LUNC price prediction, the token is eyeing a bullish breakout soon.
The testing phase is critical for ensuring that the system works effectively before moving to the mainnet. Once testing concludes, the Market Module will undergo a two-step activation process. Initially, the distribution module will remain inactive. The module will be activated at the next term limit after the pool is filled during the term. Following this, after 90 days, the system will either forward 60% of the supply or replace F with a hard fork to complete the chain upgrade.
The activation of the Market Module is expected to bring a new era for $LUNC and $USTC, with many in the community eager to see how these changes will affect the ecosystem.
Community Engagement and Governance in Terra Classic
The Terra Classic blockchain operates under a decentralized governance model, where proposals are voted on by validators and stakers. This system ensures that all significant decisions, such as upgrades and proposals, are guided by the collective will of the community.
In the case of the Market Module reactivation, the vote demonstrated strong community support. As noted by user VegasMorph on X,
“The community wants change. It’s time to reactivate the heart of the chain.”
This engagement reflects a broader shift within the Terra Classic ecosystem, where users are increasingly proactive in shaping the blockchain’s future. The success of the vote signals confidence in the direction the network is heading and the belief that this upgrade will bring tangible improvements to $LUNC and $USTC.
