🔥🔥🔥 TERRA LUNA CLASSIC news from TFL 🔥🔥🔥

1/ Dear Terra community,

We would like to inform you about a recent bankruptcy court order in TFL’s chapter 11 case authorizing TFL to do the following: 1) Reopen the Shuttle bridge for the redemption of wrapped assets on Terra Classic; 2) Undelegate & burn the 150M LUNA received from the Terra Community Grant.

2/ Shuttle bridge

Under the court order, TFL intends to move all assets held in the Shuttle bridge wallets to new, more secure wallets and make available a new, simplified Shuttle bridge interface that allows users to redeem wrapped assets from the bridge wallets until 30 days after TFL’s chapter 11 plan goes effective.

3/ After that time, TFL intends to permanently shut down the Shuttle bridge and any remaining assets will be burned. TFL’s proposed chapter 11 plan has not yet been approved by the bankruptcy court and is not anticipated to go effective until late September 2024, at the earliest.

4/ Undelegating & burning LUNA

Also under the bankruptcy court order, and in compliance with the settlement reached between TFL and the SEC, TFL will begin the undelegation process of the 125M LUNA currently staked with the 49 validators selected by recommendation of the Terra Delegation Committee.

5/ Once the LUNA has been undelegated, both the 125M LUNA used for delegations & the 25M LUNA meant for liquidity provisioning will be burned.

6/6 No action is required for now. In due time, we will announce what actions previous users of the Shuttle bridge can take on @terrac_money and this account, @terra_money.

Big things are coming 🔥🔥🔥🔥