Terra Luna Classic (LUNC) has successfully rolled out its v3.1.5 network upgrade, marking a significant milestone in the project’s ongoing recovery and development. The upgrade brings critical security fixes, performance improvements, and prepares the network for future innovations like Tax2Gas. Importantly, Binance, the world’s largest cryptocurrency exchange by volume, has officially announced support for the upgrade—underscoring growing institutional confidence in the Terra Classic ecosystem.
This upgrade isn’t just technical housekeeping—it’s a strategic step toward long-term sustainability, scalability, and user trust. Below, we break down what changed, why it matters, and how market dynamics are responding.
What’s New in the LUNC v3.1.5 Upgrade?
The Terra Classic development team executed the v3.1.5 hard fork on September 18 at block height 19,850,000, pausing the chain briefly to implement essential updates via a coordinated pull request to the terrad client. The process began at 11:26:59 UTC, with the first post-upgrade block proposed by validator Interstellar Lounge. Notably, this marked the fastest network upgrade in Terra Classic's history.
Key Technical Improvements
- Wasmd upgraded to v0.46 – This update includes critical security patches that address vulnerabilities in smart contract execution environments.
- WasmVM updated to v1.5.4 – Enhances runtime efficiency and strengthens sandboxing for WebAssembly-based contracts.
- Inclusion of v3.1.4 changes – While v3.1.4 was previously rolled out selectively for endpoint providers (due to no consensus-breaking changes), it’s now fully integrated. It fixes gas estimation issues related to tax transactions, ensuring more accurate fee calculations.
These upgrades lay the foundation for Tax2Gas, an upcoming feature designed to allow users to pay transaction fees using burned LUNC tokens—potentially reducing sell pressure and increasing utility.
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Binance Backs the Network Upgrade
In a strong signal of support, Binance confirmed its backing of the Terra Luna Classic upgrade. To ensure a smooth transition and protect user assets, Binance temporarily suspended deposits and withdrawals for LUNC and USTC during the upgrade window.
This isn’t Binance’s first move to support the Terra Classic community. Since 2022, Binance has played a pivotal role in the token’s recovery by actively participating in community-driven burn campaigns.
Binance’s Impact on LUNC Burns
- Over the past two years, Binance has destroyed 64.47 billion LUNC tokens.
- This accounts for approximately 48.5% of all community-burned LUNC supply.
- Monthly burn events continue, reinforcing deflationary pressure and helping stabilize long-term value.
Such consistent participation highlights Binance’s commitment—not just as an exchange, but as a steward of ecosystem health.
Market Reaction: Short-Term Volatility Amid Positive Developments
Despite strong technical progress and exchange support, both LUNC and USTC saw price corrections in the 24 hours following the upgrade.
LUNC Price Performance
- 24-hour change: -1.74%
- Trading range: $0.00007942 (low) to $0.00008332 (high)
- Volume surge: Up 25% over 24 hours
While prices dipped, the notable increase in trading volume suggests growing interest and engagement from traders—many likely positioning ahead of Tax2Gas implementation.
USTC Price Overview
- Current price: $0.01645
- 24-hour change: -1%
- Weekly trend: Down 8%
- Trading range: $0.01633 (low) to $0.01711 (high)
- Futures open interest: Down 3.35% in 24 hours, -0.84% in the last hour
The decline in open interest may reflect reduced speculative leverage, possibly indicating a shift toward longer-term holding or caution amid broader market uncertainty.
Why This Upgrade Matters for the Future of Terra Classic
The v3.1.5 upgrade is more than a maintenance release—it's part of a broader strategy to restore credibility and functionality to the Terra Classic chain after the 2022 collapse.
Building Toward Tax2Gas
One of the most anticipated features enabled by this upgrade is Tax2Gas, which will let users burn LUNC to cover transaction fees instead of holding separate gas tokens. This innovation could:
- Reduce circulating supply further through mandatory burns
- Lower barriers to entry for small holders
- Decrease downward price pressure caused by forced selling for gas
If implemented successfully, Tax2Gas could become a model for other proof-of-stake chains looking to optimize token utility.
Strengthening Security and Efficiency
By patching known vulnerabilities in wasmd and improving gas estimation logic, the network becomes more resilient against exploits and denial-of-service attacks. Faster upgrades also mean quicker response times to emerging threats—a crucial capability in today’s fast-moving crypto landscape.
Frequently Asked Questions (FAQ)
Q: What is the purpose of the Terra Luna Classic v3.1.5 upgrade?
A: The v3.1.5 upgrade enhances network security with critical wasmd patches, improves transaction efficiency, fixes gas estimation bugs, and prepares the chain for future features like Tax2Gas.
Q: Did Binance support the LUNC upgrade?
A: Yes, Binance fully supported the upgrade by pausing deposits and withdrawals temporarily to ensure network stability and user safety.
Q: How many LUNC tokens has Binance burned so far?
A: As of 2025, Binance has burned over 64.47 billion LUNC tokens—nearly half of all community-burned supply.
Q: What is Tax2Gas and how will it affect LUNC?
A: Tax2Gas allows users to pay transaction fees by burning LUNC directly. This introduces built-in deflationary mechanics and increases token utility, potentially supporting price stability.
Q: Why did LUNC price drop after the upgrade?
A: Despite positive news, crypto markets often react short-term based on broader sentiment. The dip may reflect profit-taking or macroeconomic factors rather than project-specific weakness.
Q: Is Terra Luna Classic still active after the 2022 crash?
A: Yes, Terra Classic (LUNC) continues development with regular upgrades, active validators, exchange support, and a dedicated community focused on rebuilding trust and utility.
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The resilience shown by the Terra Classic team—and sustained support from major players like Binance—demonstrates that even projects affected by past crises can evolve and adapt. With improved security, clearer utility pathways, and growing infrastructure support, LUNC is positioning itself for renewed relevance in 2025 and beyond.
As always, investors should conduct thorough research and consider both technological progress and market conditions before making decisions.