In a recent development for Terra Classic users, Terraform Labs has reopened the Shuttle Bridge for funding shoots.
Terraform Labs announced on its X account that it has reopened the Shuttle Bridge platform, which allows users to send Wrapped LUNA Classic (WLUNC) and USTC from the Ethereum mainnet, BNB Chain, and Harmony network back to Terra Classic.
The Shuttle Bridge will remain open until around October 30, 30 days after the expected effective date of Terraform Labs’ Chapter 11 plan.
Terraform Labs reminded Terra Shuttle Bridge users to get their assets back before the expected deadline, stating that the bridge will be closed after this date and all remaining assets will be burned.
“Dear Terra Community,
The new Shuttle Bridge interface for retrieving wrapped assets is now open. Reopening the bridge will allow users to send LUNC and USTC bridged to the Ethereum mainnet, BNB Chain (BSC), and Harmony network back to Terra Classic.
The bridge will remain open until 30 days after the effective date of Terraform Lab’s section 11 plan.
Once the bridge is closed, all remaining user assets in contracts will be burned and the bridge will be permanently closed.”
Evaluating the latest development, experts stated that the reopening of the bridge will increase WLUNC's liquidity and enable users to have control over their cryptocurrencies.
Wrapped LUNA Classic (WLUNC) saw its price increase by up to 28% following the reopening of Terra Classic’s Shuttle Bridge.
Dear Terra Community,
The new Shuttle Bridge interface to redeem wrapped assets is now open. Reopening the bridge allows users to send LUNC & USTC bridged to Ethereum mainnet, BNB Chain (BSC), and Harmony network back to Terra Classic.
The bridge will remain open from now until…
— Terra 🌍 Powered by LUNA 🌕 (@terra_money) August 28, 2024
*This is not investment advice.
