There will be a significant chain upgrade on the LUNA 2.0 side. Terra Blockchain will undergo a v2.14 upgrade and hard fork on 02/4/2025 - 15:00 (UTC).
🔅Binance Exchange; announced that it supports the Terra network upgrade and hard fork.
This upgrade will directly aim to ensure that the Axellar Network and Terra network start working in harmony again.
➖ With this chain upgrade, Terra will burn the difference between the Axellar Bridge Account on Terra and the On-Chain Axellar assets.
On-chain difference:
▫️2.04684097 axlWBTC
▫️134475.430811 axlUSDT
▫️2188609.631265 axlUSDC
➖ These assets are currently held by a contract. These assets will be burned with the network upgrade and hard fork.
With this update, the chaos on the chain will end. Axelar assets will once again be fully usable on Terra.
➖Axelar Network stands out with its secure connections between blockchains. Connections between many networks, especially networks such as $ETH, $BNB, $AVAX, $POL, can be provided with Axelar Network.
This will be a significant update for the Terra side. It does not have any direct meaning for the Terra Classic side. However, you know that the developments in
$LUNA , $LUNC and $USTC affect each other...
#Terra #TerraClassic #Axelar #AxelarNetwork $LUNA