Terra Classic’s New Re-Peg Proposal, USTC Spike Double – Digit

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The Terra’s new chain Terra Classic (LUNC) developers are striving to regain the lost trust with their everyday new updates. Though the ride has been a difficult one since the crash of Terra (LUNA) in May, the community has not lost their hopes.

Now, the latest update comes with the release of TerraClassicUSD’s (USTC) re-peg proposal put forward by Terra Classic developer, Tobias Andersen or Zardar.

This news has pushed the TerraClassicUSD (USTC) by 23% in the last 24hrs and is trading at $0.03609 currently. This momentum has also increased the currency’s market cap by 22% and the trading volume by more than 800% over the span of 24hrs.

Re-Peg Proposal

The Terra developers are working tirelessly towards getting the dollar peg back and once such step is the core developer’s quantitative tightening to recover the dollar peg. Along with the present tax burn and increase in staking rewards, the developer has added new features like partitioned pools, which will activate swaps to safeguard against volatility. Through these partitioned pools, the network’s startups can issue new tokens which can be used for commercial activities.

Also, the pools are connected with Terra Classic (LUNC) for funding and however, the complete details are still awaited.

Meanwhile, one of the most supported person and Terra Classic’s developer, Vegas has claim dhis support towards the proposal

Also another Terra community’s influencer, Classy Crypto has claimed the re-peg proposal as one of the best.

.@ZaradarTR's $USTC Re-Peg proposal for $LUNC is EASILY the best #LUNC proposal I've ever read.

We may be coming closer to rebuilding #LUNACLASSIC than meets the eye.

— Classy (@ClassyCrypto_) October 9, 2022

However, with the further details, the proposal is expected to be made clear.