Fueled by a passionate community and deep developer talent pool, the Terra blockchain is built to enable the next generation of Web3 products and services.
Dear Terra Community, Terraform Labs continues with progress with 3rd party discussions to take over operations of some of our products and services. However, in the case that they are not successful, we will be shutting down those products on October 30, 2024. The products and services include:
Products: Â 1. Enterprise (@enterprise_dao) Â 2. Warp (@warp_protocol) Â 3. Station (@StationWallet) Â 4. Alliance Hub
Services:  1. Finder Block Explorer  2. Foundation  3. IBC Relayers  4. Mantlemint, FCD, & API services
We would like to inform the Terra developer community that the Pisco testnet APIs will be shutting down this week as part of TFLâs ongoing wind-down process in the chapter 11 plan.
Developers dependent on our endpoints will need to switch to alternative community-hosted endpoints. We recommend using @polka_chuâs testnet API for continued access.
Please ensure your systems are updated to avoid any disruptions.
The new Shuttle Bridge interface to redeem wrapped assets is now open. Reopening the bridge allows users to send LUNC & USTC bridged to Ethereum mainnet, BNB Chain (BSC), and Harmony network back to Terra Classic.
The bridge will remain open from now until 30 days after the effective date of Terraform Labâs chapter 11 plan, which is estimated to be on or around 30 October 2024 (based on an anticipated September 30 effective date, which is subject to change). Opening the bridge gives you the opportunity to redeem your assets and use them as you wish. Please ensure you redeem your assets as soon as possible to avoid any issues.
After the bridge closes, any user assets still in the contracts will be burned, and the bridge will be permanently shut down.
You can access the Shuttle Bridge interface here: https://t.co/hRqZomeW9p
Users of the Terra Shuttle bridge on Terra Classic are recommended to use this opportunity to redeem their Terra Classic assets.
As TFL begins winding down its operations, Proposal 4818 will be the final chain upgrade that we implement. Pursuant to TFLâs settlement with the SEC and implementation of its proposed chapter 11 plan, TFL will no longer have the ability to support future chain upgrades.
Going forward, we look to community-driven initiatives such as the Phoenix Directive (@phoenix_dir) to take over maintenance and operational responsibilities for the Terra blockchain.
Important Notice for the Terra Community regarding the Plan Confirmation Hearing:
The Plan Confirmation Hearing in the Chapter 11 bankruptcy cases of Terraform Labs Pte Ltd (TFL) and Terraform Labs Limited (TLL) has been set to September 19, 2024 at 10:00 a.m. (ET).
For more details, please refer to the Notice of Confirmation Hearing on this link:
Important Notice for the Terra Community regarding the Plan Confirmation Hearing:
The Plan Confirmation Hearing in the Chapter 11 bankruptcy cases of Terraform Labs Pte Ltd (TFL) and Terraform Labs Limited (TLL) has been set to September 19, 2024 at 10:00 a.m. (ET).
For more details, please refer to the Disclosure Statement Order on this link:
đŁAttention Terra users: the Terra blockchain will be halted at block height 11550000 (approximately 8/8/2024 at 14:18 UTC) for a planned chain upgrade.
Please note that transactions will not be processed during this time.
Yesterday, the Terra blockchain was the target of a malicious attack exploiting a Cosmos chain vulnerability, resulting in the unauthorized withdrawal of approximately $4 million worth of assets.
When alerted to the presence of the vulnerability yesterday morning, we immediately coordinated with validators to halt the chain, and then pushed out a software upgrade to patch the vulnerability.
We have also taken action to blacklist the exploiterâs wallet on Terra.
We will share a more detailed breakdown of events when we have conclusively established the facts of the incident.
The Terra chain has resumed block production at approximately 4:19 AM UTC today and the emergency chain upgrade is now complete.
Transactions are now being processed, and users may resume normal activities.
Validators holding over 67% of the voting power on Terra have upgraded their nodes to prevent the exploit from recurring. More validators are expected to upgrade soon.
đŁAttention Terra users: Please be advised that the chain will be halted shortly at block height 11430400 and transactions will not be processed during this time.
We will be working with the validators on Terra (phoenix-1) to apply an emergency patch thereafter to remediate a suspected exploit.
Important Notice for the Terra Community regarding the Crypto Loss Bar Date:
The Preliminary Crypto Loss Bar Date for filing Crypto Loss Claims - for chapter 11 voting purposes only - in the Chapter 11 bankruptcy cases of Terraform Labs Pte Ltd (TFL) and Terraform Labs Limited (TLL) has been set to August 21, 2024, at 5:00 p.m. (ET).
If you have a Crypto Loss Claim against TFL that arose before January 21, 2024, or against TLL that arose before July 1, 2024, please file them by the Preliminary Crypto Loss Claims Bar Date to ensure your claim is considered for chapter 11 voting purposes only.
For the avoidance of doubt, the Preliminary Crypto Loss Claim Bar Date is for chapter 11 plan voting purposes only, not for allowance or distribution, which will be addressed in the chapter 11 plan.
For detailed instructions on who should file a claim, how to do so, and to access the proof of claim form, please refer to the bar date notice on this link:
We would like to inform you about a recent bankruptcy court order in TFLâs 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.
The General Bar Date for filing claims in the Chapter 11 bankruptcy cases of Terraform Labs Pte Ltd (TFL) and Terraform Labs Limited (TLL) has been set to August 9, 2024, at 5:00 p.m. (ET).
Join us for a second Space with @fleece_cannon this Friday to address unanswered questions from the first session. Set your reminders and bring your questions!
Join @fleece_cannon for a Space this coming Tuesday on the recent TFL news, everything that's happened since the trial, and what happens next. Bring your questions!
1/ Attention Terra community: Due to the recent court ruling, TFL is making changes to its operations moving forward, including active liquidity provisioning and access to TFL products in certain jurisdictions. 𧾠đ
2/ As a result of the SEC case, TFL may receive a conduct injunction, which could prohibit TFL from engaging in certain activities. To prepare for this, TFL will be restricting access to some TFL products and features from users in the United States as of next week.
Terraform Labs Statement on Verdict in SEC Proceedings: We are very disappointed with the verdict, which we do not believe is supported by the evidence. We continue to maintain that the SEC does not have the legal authority to bring this case at all, and we are carefully weighing our options and next steps.
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