In a recent update, Terra (LUNA) developers confirmed that the Shuttle Bridge functionality in the Terra ecosystem has been permanently shut down.
“Dear Terra Community, following our previous announcement, the Shuttle Bridge interface has now been permanently closed. As part of this process, all remaining tokens in Shuttle Bridge wallets have been burned to complete the closure process,” the team explained.
This marks the end of Shuttle, the cross-chain bridge that allowed Terra users to transfer LUNC and USTC tokens between the Terra Classic network and blockchains like Ethereum, BNB Chain (BSC), and Harmony.
Last month, Terra developers outlined their shutdown plans and urged users to take action before the shutdown. They reopened the bridge interface to allow users to move their assets back to Terra Classic. “The reopening of the bridge allows users to send LUNC & USTC bridged to the Ethereum mainnet, BNB Chain (BSC), and Harmony network back to Terra Classic,” the announcement reads.
The team emphasized that the bridge would remain open for a limited time, specifically until 30 days after Terraform Lab’s Chapter 11 bankruptcy plan goes into effect, which is estimated to be on or around October 30, 2024. Users were warned to use their assets immediately to avoid any issues.
With the final closure confirmed, all unused assets have been burned and the decommissioning of the Shuttle Bridge has been effectively completed.
*This is not investment advice.
