Terra: 150 million LUNA will be destroyed according to the bankruptcy courts authorization, and the Shuttle Bridge will be permanently closed after t
Odaily2024/07/19 12:03
By:Odaily
Odaily News Terra posted on the X platform that the bankruptcy court order in TFLs Chapter 11 case authorizes TFL to do the following: 1. Reopen Shuttle Bridge to redeem wrapped assets on Terra Classic; 2. Cancel the delegation and destroy 150 million LUNA obtained from Terra community funding. According to the court order, TFL intends to transfer all assets held in the Shuttle Bridge wallet to a new, more secure wallet and provide a new, simplified Shuttle Bridge interface that allows users to redeem wrapped assets from the bridge wallet within 30 days after TFLs Chapter 11 plan takes effect. After that, TFL will permanently close Shuttle Bridge and will destroy all remaining assets. In addition, TFL will initiate the staking process for 125 million LUNA currently staked by 49 validators recommended and selected by Terra.
0
0
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Stake to earn
CEC, QTLX, GDV and other popular new coins are in hot progress!
Stake now!
You may also like
FET Investors Bet on GoodEgg’s Long-Term Value and Pontential 100x Gains
Newsbtc•2024/09/19 14:48
Google Cloud Unveils New Blockchain RPC Service for Faster dApps
Cryptodnes•2024/09/19 14:21
Solana Investors Maintain Their Focus As They Double Their Mpeppe Bag
Newsbtc•2024/09/19 13:43
GoodEgg’s (GEGG) Unique Features and Use Cases
Newsbtc•2024/09/19 13:43
Trending news
MoreCrypto prices
MoreBitcoin
BTC
$63,072.54
+5.60%
Ethereum
ETH
$2,429.41
+5.41%
Tether USDt
USDT
$1
+0.09%
BNB
BNB
$565.91
+4.33%
Solana
SOL
$141.24
+9.99%
USDC
USDC
$1
+0.02%
XRP
XRP
$0.5896
+3.55%
Dogecoin
DOGE
$0.1052
+4.32%
TRON
TRX
$0.1513
+1.02%
Cardano
ADA
$0.3539
+7.12%
Bitget pre-market
Buy or sell coins before they are listed, including HMSTR, CATI, OGC, EIGEN, and more.
Trade now
Not a Bitgetter yet?Sign up now to embark on a journey into the crypto world!
Sign up now