June 20 (Cointime) - The Joint L1 Task Force of Terra Luna Classic core developers has announced their collaboration with the RedlineDrifter-led USTC repeg team to revive the price of TerraClassicUSD (USTC) to $1.

The L1TF team will work on testing the market module during Q3 while the newly formed Quant team will seek alternative funding methods for the reserve if CEX does not support the divergence tax proposal.

The LUNC price is expected to recover 50% after the biggest v2.1.1 parity upgrade on June 14, despite market volatility. USTC price is currently trading at $0.011, up 1% in the past 24 hours.