Terraform Labs Sets Crucial October 30 Deadline For Terra Classic Users
Summary
Terraform Labs (TFL) has alerted users of its Terra Classic platform regarding the reopening of the Shuttle Bridge interface, essential for transferring wrapped LUNC and USTC assets between blockchains. The bridge will remain operational until approximately 30 days after the chapter 11 plan's effective date, estimated around October 30, 2024. Users are urged to redeem their assets promptly, as any remaining crypto in contracts will be burned after the bridge closes. TFL also announced Proposal 4818 as the final upgrade to the blockchain, signaling a shift from TFL-led development to community-driven initiatives due to ongoing legal and financial restructuring. LUNC is currently trading at $0.00008526.
