Exchange informed its users of forthcoming changes
top crypto exchanges, Binance, said that in recent days it supported deposits and withdrawals of shuttle bridged LUNCs via the Terra Classic and Ethereum networks. Binance says it also supports Shuttle Bridged USTC via the BNB Smart Chain (BEP20), the Ethereum Network (ERC20), the Polygon Network, and the Terra Classic Network.
The exchange has informed its users of forthcoming changes due to the impending shutdown of the Shuttle Bridge.
First, starting September 7, deposits and withdrawals of Shuttle Bridged LUNC and USTC made using the Ethereum network (ERC20), BNB smart chain (BEP20) and the Polygon network, respectively, will be indefinitely paused.
Users can still use the Terra Classic network to deposit and withdraw their LUNC and USTC tokens, nevertheless. Spot and margin trading for LUNC and USTC, as well as relevant services on Binance Earn (e.g., Binance Staking, Binance Savings), are not affected.
The “Shuttle” is a Terra Bridge that allows Terra assets to be sent between the Terra and Ethereum networks. The original Terra blockchain, after its collapse, was abandoned and rebranded as Terra Classic.
In late August, the Terra Classic network shared important updates as regards the Shuttle Bridge, stating that Terra Shuttle transfers from Terra Classic have been disabled due to high transaction costs. It noted that this was its first move towards sunsetting the Shuttle completely.
It then urged users to immediately repatriate all shuttle bridged assets to Terra Classic to prevent loss of funds. However, this does not affect properties transferred through the wormhole.
19,504,909 LUNA to be airdropped to wallets
U.Today reported in late May that some Terra users were receiving less LUNA than expected, hence the initiation of the Terra Phoenix Airdrop proposal, which has now been passed.
With the passage, 19,504,909 LUNA will be requested from the community pool to perform an airdrop to wallets that did not receive the correct amount in Genesis. Eligible users will have one month from September 4 to October 4 to claim their airdrops. It says that LUNA not claimed as of October 4, including any unused gas charges, will be returned to the community pool.
