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- $1M bounty announced to incentivize development of a secure system to restore USTC’s $1 peg.
- $LUNC community is optimistic, with analysts projecting a potential 405% price surge.
The recent rally may signal more volatility, with $0.0001 liquidity at risk, as we discussed earlier. Terra Classic ($LUNC) is up 23%. The Terra Luna Classic community is focusing on a plan to restore the USTC stablecoin to its $1 peg.
A proposed bounty of $250,000 has been announced for developers who can create a flawless system to achieve this goal, with potential future rewards exceeding $1 million. The initiative outlines specific requirements such as stability, security, transparency, and scalability, aiming to build a secure, decentralized system with economic incentives to maintain the peg.
Developers are expected to submit a detailed whitepaper, and selected proposals will undergo community review and governance voting. In a recent update, CNF revealed that an analyst’s forecast projects a 405% growth in Terra Classic ($LUNC) price, targeting $0.00042986.
Market Response and Price Projections
Referring to the impact on $LUNC and USTC prices, the news has been met with cautious optimism. At the time of writing, $LUNC is trading near $0.000078, having surged by 0.15% over the past 24 hours, with a 1.82% decrease in trading volume over the past week. See the price chart below.
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