Binance Declares Backing For The Terra Classic (LUNC) Upgrade
Binance, one of the world’s leading cryptocurrency exchanges, has declared its backing for the Terra Classic (LUNC) upgrade. The upgrade will bring several new features and improvements to the blockchain.
Binance Involvement In The Upgrade
The Terra Classic upgrade will introduce several new features to the blockchain, including the ability to stake LUNC, which will allow users to earn staking rewards for holding and supporting the network.
The upgrade will also bring increased transaction speeds, improved security and more efficient smart contract functionality.
In addition to the technical improvements, the upgrade will also bring a number of governance and community-related enhancements to the LUNC ecosystem. The new consensus mechanism will allow for on-chain governance, giving LUNC holders the ability to vote on key decisions regarding the future of the network.
The Terra Classic team has also announced that the upgrade will include a token swap, which will convert the existing LUNC tokens to the new LUNC tokens.
The team has advised all LUNC holders to hold their tokens on Binance, as they will automatically be converted to the new tokens once the upgrade is complete.
The upgrade is expected to bring significant improvements to the network and will likely attract new users and investors.
In a statement, Binance CEO Changpeng Zhao said, “We are excited to support the Terra Classic upgrade and are confident that the new features and improvements will bring value to our users and the entire Terra Classic community.”
Terra Entering A New Phase With This Upgrade
The Terra Classic team also expressed their excitement over Binance’s support, stating that the exchange’s backing will help to ensure the success of the upgrade, and further solidify Terra Classic’s position as a leading blockchain in the crypto industry.
This move by Binance is seen as a positive step for Terra Classic, which has been gaining traction in recent months. The upgrade is expected to bring significant improvements to the network and will likely attract new users and investors.
Overall, the Terra Classic upgrade and Binance’s support for it is a positive development for the blockchain and its community.
The upgrade brings new features and improvements that will help to further solidify Terra Classic’s position in the crypto industry and attract new users and investors.
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