Terra Classic network, which has been struggling since the historic collapse of May 2022, is working towards a notable revival, and developers in this ecosystem have since been busy working to achieve this difficult but not impossible goal.
The network has made new headway towards realizing this goal as the L1 Joint Task Force (L1JTF) took the next step towards the implementation of v2.1.0 known as the Cosmwasm upgrade.
It should be noted that this upgrade is meant to bring Terra Classic (LUNC) to parity with Luna 2.0 and Cosmos blockchain.
The revision of the second quarter roadmap recently released shows that the L1 team has shifted the date of the upgrade to version v2.1.0.
According to LuncBurnArmy in a series of tweets a few hours ago, the release date has been moved from May 31 to June 14 to give room for more tests on the upgrade and quality assurance.
— 🔥LuncBurnArmy🔥 (@luncburnarmy) May 29, 2023
In the same thread of tweets, LuncBurnArmy (LBA), the L1JTF’s Project Manager revealed that once the testnet is successfully released on May 31, the upgrade proposal will be created and put up for voting after seven days.
“The team is focused on the v2.1.0 upgrade, and smart contract testing has been going well. The rehearsal testnet upgrade has been scheduled for this Wednesday May 31st at approximately 11am EST.
“Following a successful upgrade on the testnet on Wednesday May 31st, we will be creating and posting the upgrade proposal, and will put it up for vote approximately 7 days later. The upgrade for parity has been scheduled for June 14th as a firm date.
“The 5% minimum validator commission fee has been developed, is currently undergoing testing, and we are targeting inclusion in v2.1.0 on June 14th.
“Hope everyone had a wonderful weekend, and wish you all the best in the week ahead. Happy coding and testing!”
Another key aspect of the upgrade is determining the validator fee rate. Although validators on the Terra Classic network have the freedom to set their choice validator fee, the team wants to enforce a minimum commission rate of 5% to ensure a fair and secure network.