Terra Explained Why They Delayed Mainnet Upgrade For Later This Month
Terra (LUNA) is one of the best-performing assets in the crypto market. The crypto asset rallied 130% rally over the past month. At the time of writing, LUNA trades at $31.86, with 3% gains on a daily chart. A little over a year ago it was barely breaking out above $1.
LUNA’s price appreciation is driven by a growth in the LUNA ecosystem and an increase in demand for its stablecoin UST. Terraform Labs (TFL) has been planning to introduce an update, to support this growth.
The upgrade’s – called Columbus 5 – mainnet deployment has been delayed for 3 weeks, according to an official notice. The update will take place at the height of block 4,724,000, on September 30, 03:30 UTC.
1/ The Columbus-5 mainnet deployment will be delayed ~3 weeks until a new block height of 4,724,000, roughly equivalent to the following times:
9/29 at 20:30 PST 9/30 at 03:30 UTC 9/30 at 12:30 KST
According to Terra team, they want to “implement some extra precautionary measures” to roll out the update. They added:
“(…) the Columbus-5 mainnet upgrade is massive. Behind the scenes, numerous moving parts require attentive and thorough examination from multiple perspectives + reviews between TFL, eco partners, the community, and projects dependent on Terra applications.”
The team has provided 3 main reasons that led them to delay the update. First, the network will have a new version of Mantle, their framework to write 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 introduced with Colombus 5. Terraform Labs claimed:
“Mantle plays a critical role in mediating application network traffic on Terra, ensuring the compatibility of the new version between Col-4 and Col-5 is paramount, requiring additional testing to verify the new design changes.”
Another reason for the delay is due to Terra’s partners and third-party projects. The team behind the ecosystem wants these projects to have more time and “breathing room” to migrate to Columbus 5.
This includes projects like Mirror, Anchor, TerraSwap, Shuttle. Before the update, the developers behind these applications must be familiar with the updated mainnet.
Update To Support Growth
As Terraform Labs said, the LUNA ecosystem’s total value locked (TVL) stands at $7.3 billion with “tens of thousands” of new stakeholders, and builders coming into the platform. Thus, why they have decided to grant their community and developers more time to prepare:
“The original timeline produced a hurried window for some projects to properly prep for Col-5. Giving projects more time to acquaint themselves with the Col-5 testing environment and migration plans for major apps ensures a smoother runway for projects launching post-Col-5.”
The team has made a commitment to provide more documentation and educational material for the community to “use the update properly”. In this documentation, they will address some of the community and third-party project’s concerns on Col-5.
“The official migration guides for Mirror and Anchor will be released on September 13th, meaning web apps, contracts, and bots will be functional and operational on Bombay for users by this time. TerraSwap has already been migrated.”
Terraform Labs will provide more information in the coming weeks on the “sequence of events” leading to the mainnet. Thus, they will make it a priority to “guarantee” a “smooth” Col-5 launch.
13/ Columbus-5 will unlock multiple new dimensions for value capture, interoperability, and scalability improvements on Terra.
Assuring the smoothest launch possible is in the best interest of the #LUNAtic community and the future of Terra.
