Terra, the blockchain that underpins the LUNA cryptocurrency, has received a new upgrade. An official upgrade to v2.3.1 occurred some hours ago, and blocks are currently being produced. The new upgrade includes a variety of new additions, including Alliance.
Alliance, an open-source Cosmos SDK module, uses interchain staking to let blockchains build economic alliances. By gaining users, liquidity and developers, increasing staking yield, and guiding monetary policy (L1 token inflation and fees) toward encouraging desired user behaviors, chains like Terra's can enhance their decentralized economy through integration.
Also, proposal 4717 to upgrade Terra Core to v2.3.0 has passed. This chain-halting upgrade would support the integration of the Alliance module on the Terra mainnet.
The new Alliance module and other improvements were integrated as part of Terra's upgrade on Pisco (its testnet chain) on March 21, 2023.
Following the UST depeg that caused its ecosystem to collapse in May 2022, Terra has continued to develop. However, it can take some time for the ecosystem to recover its previous splendor because of obstacles like legal hurdles and other factors.
Do Kwon, Terra co-founder, was detained in Montenegro late last month while attempting to board a private plane at an airport in Podgorica, the country's capital, according to South Korean authorities.
Prosecutors in Montenegro have reportedly handed indictments to the Terra co-founder following his arrest.
At the time of writing, LUNA was marginally up in the last 24 hours at $1.41.