The post Terra Luna Bankruptcy Update: Shuttle Bridge Reopens, LUNA Tokens to Be Burned appeared first on Coinpedia Fintech News
In a significant development for Terra Luna, the bankruptcy court has issued a new order authorizing several crucial actions for Terraform Lab (TFL). These include reopening the Shuttle Bridge for wrapped asset redemptions and implementing a plan to transfer and burn a substantial amount of LUNA tokens.
Here’s what you need to know about these changes and their potential impact.
Shuttle Bridge Reopens for Limited TimeThe court’s order allows Terraform Lab to reopen the Shuttle Bridge, a platform used for redeeming wrapped assets on Terra Classic. This will allow users to access their assets through a new, more secure interface.
1/ Dear Terra community,
We would like to inform you about a recent bankruptcy court order in TFL’s chapter 11 case authorizing TFL to do the following: 1) Reopen the Shuttle bridge for the redemption of wrapped assets on Terra Classic; 2) Undelegate & burn the 150M LUNA…