Terra Bridge V2 releases on the Mainnet that use Cosmos IBC and the Axelar Network. Users will be able to transfer tokens between Terra 2.0, Ethereum, Osmosis, Secret, Cosmos, and Juno through the bridge.
Additionally, Terra Bridge, supported by Axelar, Shuttle, and Wormhole, can be used to deposit tokens on Terra Classic. On the other hand, Terra blacklisted Axelar and Shuttle, leaving Wormhole as the only viable choice.
Terra Bridge Comes With A Choice Of Cross-Chain Transfer
Terra Bridge is a web application that lets users exchange Terra assets between blockchains using their bridges. A browser plugin helps users to link their wallets.
Terra Station on Terra 2.0, MetaMask, Coinbase or Trustwallet for WalletConnect on Ethereum, and Binance Chain Wallet or MetaMask on Binance Smart Chain (BSC) are some of the supported wallets.
Alexar is the one who sanctions only cross-chain transactions between Terra and Ethereum. It lets users send and receive Axelar USD Coin (axlUSDC) and Axelar Tether (axlUSDT).
Cosmos IBC, on the other hand, enables cross-chain LUNA transfer from Terra to Osmosis, Secret, Cosmos, and Juno. Terra Bridge V2 also supports LunaX, ampLUNA, axlWBTC, axlWETH and GRAV coins on a Terra to Terra basis.
Users who want to work on bridge with Terra Classic can use Terra Bridge Classic instead. Conversely, Axelar is no longer accepted, and cross-chain swaps are limited to Wormhole and Shuttle.
A warning note about Shuttle reads: “Shuttle is about to be phased out and further details will be revealed soon. At this time, Shuttle is safe to use, but at your own risk. »
LUNA Price Crash With Unveiling Of Bridge
After the Bridge V2 launch, the LUNA price declined by 5%. According to CoinMarketCap platform, the LUNA price has currently dropped by 4.30% overnight trading at $6.50. The LUNA volume is also down by 45%.
On the other hand, at the moment, Terra Classic (LUNC) is trading at $0.0000937 with a decline of 4.87% in the last 24 hours.
