Shuttle Bridge, which facilitates asset transfers between Terra and other blockchains, was temporarily closed. The court mandated Terraform Labs (TFL) to take significant measures, including reopening Shuttle Bridge and burning a substantial amount of LUNA tokens.
In accordance with the court’s decision, TFL will transfer all assets from the Shuttle Bridge wallet to a new wallet. Users will have a 30-day period to redeem their locked assets. After this period, TFL will permanently close Shuttle Bridge and burn the remaining assets.
To reduce the circulating supply of LUNA, the court permitted TFL to cancel the distribution and burn 150 million LUNA tokens received from Terra community funding.
