Terra Classic developer Till Z, also known as Fragwuerdig, released the v3.1.0 update aimed at enhancing LUNC staking by diverting 10% of Oracle pool rewards. This update is set to be completed by July 26, with significant community and validator approval required.
The update implements Oracle Split logic, shifting 10% of tax burn rewards to the Oracle Pool. This change is expected to boost long-term staking rewards, although it may slightly decrease the annual percentage rate (APR) by around 0.5% based on on-chain volumes.
LUNC staking has surged, nearing an all-time high with over 1 trillion LUNC staked, pushing the staking ratio to 15.09%. The community aims for a 20% staking ratio. In parallel, LUNC futures open interest saw a 20% increase, indicating strong buying sentiment. The LUNC price grew by 1% in the last 24 hours, while trading volume rose by 40%, reflecting heightened investor interest.
This update is strategically important as it aims to stabilize and improve LUNC staking rewards, fostering long-term community support and engagement.
