The price of Tera Classic (LUNC) is rising as the broader crypto market recovers. The surge in LUNC could also be due to the release of the Station, an interchain desktop wallet.
On Twitter, Jared, the Director of Development at Terraform Labs, shared details of this partnership, saying the Station forms the base of a “multi-chain” future ushering in an era of easy staking and crypto asset management. As a non-custodial wallet, Station allows users to fully control their assets while allowing coin holders to vote via the Governance Hub.
What’s in it for users?
According to Jared, the Station will soon be expanded to include more chains besides Osmosis, Juno, Kujira, Carbon, HuaHua, and Crescent.
By February, Station plans to support ten more networks, including Regen, Cosmos Hub, and Stargaze. However, they have indicated that once a blockchain is supported, the platform’s developers must integrate the Station extension. Station developers say this is because “each chain is unique and has its own set of technical parameters.”
LUNC is rallying
At spot rates, the price of LUNC is relatively firm. Notably, the expansion of prices follows the team’s announcement on Jan. 10 of what they describe as a “breakthrough in chain integrations.”
The most recent enhancement is part of an ongoing effort by the community to revive the project after last year’s failure. Developers working on the DeFi platform will now have easier access to oracle data from supported chains because the Interchain Station is interoperable.
Late last year, KuCoin, a cryptocurrency exchange operating a Terra Classic network validator node, undelegated 48 billion LUNC without any explanation. With this move, KuCoin’s voting power shrunk to around 0.21 percent.
This news was a significant setback for the Terra Classic network. The LUNC community has responded by voting on and approving new governance procedures to the overall network’s advantage. Concerns voiced by members of the community led to the implementation of these adjustments.