$110B Lunc Burn Terra Luna Classic Announces Security Package Update.

Genuine Labs, one of the core developers of Terra Luna Classic, has recently provided an update on their achievements in enhancing the security, functionality, and interoperability of the Terra Classic Security Package. They are planning to propose a security upgrade later this month.

In addition, the community has burned a total of over 110 billion LUNC tokens, with Binance contributing 57.66 billion LUNC to the burn.

Genuine Labs, a core developer group for Terra Luna Classic, shared a detailed bi-weekly update on the enhancement of the Terra Classic Security Package on April 10. They expressed their gratitude for the support and encouragement from the community and their dedication to improving the Luna Classic chain.

The developer group highlighted significant progress in the core repository for the SDK47 upgrade. They also addressed issues with e2e and interchain tests, configured the testnet with mainnet data, and resolved potential bugs.

To be more specific, the upcoming tasks for the next two weeks include:

1. Upgrading with testnet: We’ll collaborate with the validators to create a testnet that performs the upgrade.
2. Upgrading with mainnet: Once the testnet has been determined to function properly, we will create a proposal for the Columbus-5 upgrade.
   

Specific tasks for the upcoming weeks include Collaborating with validators to create a testnet for the upgrade and proposing the Columbus-5 upgrade once the testnet is confirmed to be functioning properly.

The rate of LUNC burns has decreased in recent weeks, possibly due to an increase in LUNC price. StakeBin data shows that 550 million LUNC tokens were burned in the past few weeks, compared to billions in previous weeks.

Since taking over the chain after the Terra-Luna crisis, the community has burned over 110 billion LUNC tokens.

The LUNC burn campaign is a joint effort to reduce the supply of LUNC tokens.