Developers Edward Kim and Alex Forshaw stated in their Medium post that they will focus on TerraClassicUSD after the 1.2% fee burn implementation planned to take place in the coming days, while revealing a very ambitious plan for USTC to reach the dollar stable again.

After losing stability in May, the algorithmic stable crypto-asset, formerly UST, nearly zeroed in value, and the process continued until the collapse of the Terra ecosystem. Now, the community is struggling to get the original Terra Blockchain back on its feet, acting independently of the new Terra Blockchain.

Terra Luna-6

The developers likened the Terra Classic network to a developing country that had defaulted and said that the network needed some form of debt restructuring. Expressing that the UST needs to be made resistant to new attacks on the way to recapture the dollar stable, community members said that they have a long and patient road ahead of them.

Edward Kim and Alex Forshaw have lofty goals of resurrecting decentralized stablecoins, making the return of one of the biggest losses in crypto history. In addition, the developers emphasize that the crypto market needs a truly decentralized stable crypto asset that is resistant to external factors, and they think that LUNC will become more effective with the re-start of USTC. Currently, the Terra Classic network has attracted a lot of attention with its 1.2% wage burning policy, backed by the support of centralized exchanges. In the next period, the Terra Classic community will also try to attract new projects and keep the network active.

Terra Luna-2

On the other hand, the arrest warrant issued yesterday for Do Kwon and several members of the team caused heavy losses in the price of LUNA. LUNC was also adversely affected by this situation. While LUNA closed the day at $3, down 27% yesterday, it is moving sideways today. LUNC, on the other hand, is changing hands to the $0.00028 band, continuing its downward trend by 6%, after seeing a 16 percent decline yesterday.