Terraform Labs (TFL) announces a postponement of the Terra Classic Shuttle Bridge’s closing date to June 30. The deadline for wrapped assets holders to bridge to the classic chain is now delayed. Terraform Labs took to Twitter to communicate to the wrapped Terra Luna Classic (WLUNC) holders. The WLUNC holders now have more time to bridge their assets to the classic chain.
Making the announcement, Terraform Labs tweeted:
The sunsetting of the Terra Classic Shuttle Bridge will be postponed to June 30th, 2023, at 23:59 hrs (UTC) to provide users with more time to bridge funds back to Terra Classic using https://t.co/z7KnH1iaQs.
— Terra Classic (@terrac_money) February 13, 2023
More details to come in the next few weeks
Terraform Labs states more details would be shared on the subject soon in the future. As a result, WLUNC holders would not have enough time to initiate a bridge back via the Portal Bridge, AKA Wormhole. Exercise enough caution as a failure to bridge back would lead to a loss of funds.
Earlier in December, Terraform Labs had tweeted to announce the Terra Classic Shuttle bridge sunset date to be January 31st, 2023.
Terraform Labs had tweeted:
1/ The Terra Classic Shuttle bridge will sunset on Jan. 31st, 2023, 0000 hrs (UTC).
— Terra Classic (@terrac_money) December 21, 2022
Users are strongly advised to bridge assets back to Terra using https://t.co/z7KnH1iaQs before Jan. 31st to ensure funds are not lost.
It had informed in December that the said bridge activity would not “impact assets transferred with Wormhole or IBC.” Per the earlier bridge schedule, Bridging via Portal Bridge (Wormhole) and IBC were to be kept available on Terra Bridge Classic until May 30th, 2023.
The sunset of the Terra Bridge Classic interface (http://classic-bridge.terra.money) was then to ensue. Shuttle was central in enabling assets’ bridging to Ethereum, BSC, and Harmony prior to other available bridges, per Terraform Labs.
The Shuttle Bridge is a multi-chain bridge that connects the Terra network. So, a flourishing Terra Classic network enabled the users to swap their tokens for wrapped versions with a usability on the concerned networks. After the fall of the ecosystem in May, TFL stated in August that it plans to shutter the bridge due to unaffordably high transaction fees.
