HomeCrypto NewsTerra Classic Shuttle Bridge Sunset Will Not Affect LUNC Staked On Terra Station

Terra Classic Shuttle Bridge Sunset Will Not Affect LUNC Staked On Terra Station

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LUNC held on Terra Station will not be affected by the Shuttle bridge sunset.

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Classy (@ClassyCrypto_), in a tweet on Thursday, confirmed that Terra Luna Classic (LUNC) held on Terra Station will not be affected by the Shuttle bridge sunset.

Classy confirmed this on Thursday as users speculated that the latest decision by TFL may also affect regular LUNC or LUNC held on Terra Station. As The Crypto Basic reported on the same day, Classy says it will not.

“The LUNC shuttle bridge sunset only affects Wrapped LUNC trying to be converted to LUNC on Terra,” the influencer and network validator tweeted. “This does NOT affect staked LUNC on Terra Station. No need to worry unless you hold WLUNC.”

Recall that Terraform Labs recently revealed that they would shut down the Terra Classic Shuttle bridge on January 31, 2023, urging users to bridge all wrapped tokens back to the classic chain. Users can do this using the Portal bridge, AKA wormhole, before the deadline.

Meanwhile, TFL also plans to sunset the wormhole on May 30, 2023.

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For context, the Shuttle bridge allowed users to exchange assets from the Terra Classic chain for wrapped versions holders could use on Ethereum, Binance Smart Chain (BSC), and Harmony.

TFL first revealed plans to shut down the bridge in August, citing high transaction costs. Binance, in September, suspended support of wrapped Terra assets on the back of this decision, as The Crypto Basic reported.

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Ammara
Ammarahttps://thecryptobasic.com/
Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.

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