Terra Luna Classic Moves to Repeg USTC: Will LUNC Price Explode?
LUNC News: The Terra Luna Classic community is exploring a new, flawless repeg system for the USTC algorithmic stablecoin. They believe it’s time to focus on reviving LUNC and restoring USTC’s peg. An initial bounty of $250,000 is proposed for the development of this system, with plans to potentially increase the reward to over $1 million.
Terra Luna Classic Bounty for USTC Repeg System
To restore USTC’s value to $1, a $250,000 bounty has been announced. The developer or team that creates a flawless system to achieve this will be rewarded. The proposal includes detailed requirements, processes, and expectations for the initiative.
“The main aim is to design and implement a system that keeps USTC pegged to the USD without repeating past risks,” noted community member NB_Crypto.
Key requirements include stability, security, transparency, decentralization, economic incentives, scalability, and interoperability. The system must also offer monetary incentives, high throughput, and interoperability advantages.
LUNC Community Proposal Submission
A comprehensive whitepaper is required, detailing the USTC repeg system’s mechanics. Submissions must include technical documentation, security audits, economic models, and a timeline. Community experts will review and vote on the proposals, with support provided for integration, testing, and deployment.
Additionally, the community is considering further development following the approval of the Tax2Gas proposal by Genuine Labs, which is expected to boost LUNC’s price and blockchain activity.
LUNC Price Outlook
Despite community enthusiasm, major developers have yet to weigh in on the repeg’s feasibility. Currently, LUNC is trading at $0.000077, down 6% over the past week, with a trading volume drop of 33%. In contrast, USTC’s price has risen 3% to $0.01561, with a 20% decrease in trading volume. USTC futures open interest has increased by over 3%, with notable jumps on Binance and Bybit.
