Terra Luna Classic (LUNC) has made significant strides with the completion of a major upgrade, paving the way for the highly anticipated Tax2Gas feature. The community overwhelmingly supported the proposal for an upgrade to v3.1.6, with 100% of votes in favor. This marks a crucial milestone for the ecosystem, aimed at enhancing transaction efficiency and bolstering security.

The v3.1.6 upgrade introduces vital improvements, including a security patch for the WebAssembly Virtual Machine (wasmvm), now updated to version 1.5.5. This update ensures the Terra Luna Classic blockchain remains robust against potential security vulnerabilities.

Additionally, the upgrade enhances the gas simulation feature for taxable transactions, optimizing transaction handling across the network. Previously limited to endpoint providers, this improvement is now available for broader network use.

The upgrade process involved halting the blockchain at block height 20085000, allowing validators to install the latest terrad client. Terra Luna Classic developer StrathCole, who initially proposed the upgrade, emphasized that the patch and simulation improvements were crucial for the upcoming Tax2Gas feature.

The LUNC community has responded positively to this development. Mr. Diamondhandz1, a prominent figure in the LUNC community, expressed enthusiasm on X (formerly Twitter):

“The LUNC blockchain has successfully upgraded to v3.1.6! This upgrade added a security patch for wasmvm and included a gas simulation patch. Well done to all validators and StrathCole for the excellent upgrade.”

This upgrade comes at a critical time for Terra Luna Classic as it aims to rebuild investor confidence. The Tax2Gas implementation is expected to play a significant role in LUNC’s future growth by streamlining the gas tax system and improving overall transaction efficiency.

Following the news, LUNC’s price surged by over 6%, reaching $0.00008679, with its trading volume increasing by 22% to $20.05 million. The token touched a 24-hour high of $0.00008804.

Similarly, USTC, another token in the Terra ecosystem, saw a price increase of over 7%, trading at $0.02188. Its trading volume skyrocketed by 106% to $49.81 million, with a 24-hour high of $0.02368 and a low of $0.01992.

These developments signal growing momentum behind LUNC’s development and renewed interest in the Terra ecosystem.