Binance has informed its users about the upcoming changes. Terra tokens will remain suspended until further notice from LUNC and USTC Binance. Terra is also preparing for a new airdrop event. You can find all the details in this article.
Binance has given a date for Terra transactions
The largest crypto exchange Binance says that in the recent past, Shuttle Bridged LUNC supports deposits and withdrawals via the Terra Classic and Ethereum networks. Binance also supports Shuttle Bridged USTC via BNB Smart Chain (BEP20), Ethereum (ERC20), Polygon and Terra Classic.
Binance: Deposits and withdrawals of LUNC (Shuttle) via Ethereum network (ERC20) and USTC (Shuttle) via BNB Smart Chain (BEP20), Ethereum network (ERC20) and Polygon network will be suspended indefinitely from 2022-09-07 at 00:00 (UTC). https://t.co/2rhmaD9hi4
— Wu Blockchain (@WuBlockchain) September 2, 2022
The exchange has informed its users about upcoming changes due to the upcoming shutdown of my Shuttle Bridged. Firstly, from September 7, deposits and withdrawals of Shuttle Bridged LUNC and USTC using the Ethereum network (ERC20), BNB Smart Chain (BEP20) and Polygon, respectively, will be suspended indefinitely. Users can still use the Terra Classic network to deposit and withdraw LUNC and USTC. Spot and margin trading for LUNC and USTC and related services on Binance Earn (eg Binance Staking, Binance Savings) are not affected.
“Shuttle” is a Terra bridge that allows Terra assets to be sent between Terra and Ethereum networks. The original Terra Blockchain was abandoned after its collapse and was rebranded as Terra Classic.
In late August, Terra Classic shared important updates regarding the Shuttle Bridge. He also noted that Terra Shuttle transfers from Terra Classic are disabled due to high transaction costs. It then urged users to return all Shuttle Bridged assets to Terra Classic to avoid loss of funds. However, this does not affect assets migrated through Wormhole.
19,504,909 LUNA will be distributed via airdrop
As Kriptokoin.com, we reported that in late May, some Terra users received less LUNA than expected, so the currently accepted Terra Phoenix Airdrop offer was launched.
https://twitter.com/terra_money/status/1565718424222932993
With the transition, 19,504,909 LUNAs will be requested from the Community Pool to perform an airdrop to wallets that do not receive the correct amount in Genesis. Eligible users will have a month from September 4 to October 4 to claim their airdrop. It says LUNA not claimed by October 4 will be returned to the Community Pool, including any unused gas fees.
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