BCGAME - Free 5BTC Daily Bonus!Terra (LUNA) is up 130% over the past month and is among the best performing assets in the crypto market. At the time of this writing, LUNA is trading at $31,95, just over a year ago, barely going over $1.
The price appreciation is driven by a growth in the LUNA ecosystem and an increase in demand for its UST stablecoin. To support this growth, Terraform Labs (TFL) is planning to introduce an update.
Called Columbus 5, its mainnet rollout has been delayed for 3 weeks, according to an official blog post. The update will take place at the peak of block 4.724.000 on September 30th at 03:30 UTC.
The team behind Terra stated that they want to "implement some extra precautionary measures" to implement the update. They added:
The main network upgrade of Columbus-5 is massive. Behind the scenes, many moving parts require close and thorough examination of multiple perspectives + evaluations between the TFL, ecological partners, the community and projects dependent on Terra applications.
Furthermore, they provided three main reasons why they delayed the update. First, the network will have a new version of Mantle, its framework for writing indexes or Extract-Transform-Loan (ETL) logic.
This new version of Mantle will be more scalable and will be able to support “significantly” more traffic. It will be featured with Columbus 5. Terraform Labs stated:
Mantle plays a critical role in mediating application network traffic on Terra, ensuring that new version compatibility between Col-4 and Col-5 is critical, requiring additional testing to verify the new design changes.
The second reason for the delay is due to Terra partners and third-party projects. The team behind the ecosystem wants these projects to have more time and “breathing space” to migrate to Columbus 5.
This includes projects like Mirror, Anchor, TerraSwap, Shuttle. Before the update, the developers behind these applications should be familiar with the updated mainnet.
Important Update
As Terraform Labs put it, the total locked-in value of the LUNA ecosystem (TVL) is $7,3 billion with “tens of thousands” of new bidders and builders joining the platform. So why did they decide to give the community and developers more time to prepare:
The original timeline produced a rushed window for some projects to properly prepare for Col-5. Giving projects more time to familiarize themselves with the Col-5 test environment and migration plans for major applications ensures a smoother track for projects released after Col-5.
In this sense, the team committed to providing more documentation and educational material so that the community “uses the update properly”. In this documentation, they will address some of the community and third-party project concerns on Col-5.
The official migration guides for Mirror and Anchor will be released on September 13th, which means that the web apps, contracts and bots will be up and running in Mumbai for users at this point. TerraSwap has already been migrated.
In the coming weeks, Terraform Labs will provide more information on the "sequence of events" leading up to the mainnet. Thus, they will make it a priority to “ensure” a “smooth” launch of the Col-5.
