Terra Luna Bankruptcy Update: Shuttle Bridge Reopens, LUNA Tokens to Be Burned

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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.

The 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…