Terraform Labs Sets Crucial October 30 Deadline For Terra Classic Users

Quick Summary:

Terraform Labs (TFL), the foundational entity behind the once-prominent ecosystem, has issued a significant alert for users of its Terra Classic platform.

This comes in the wake of the historic collapse of its algorithmic stablecoin UST and its companion cryptocurrency LUNA, which precipitated a market implosion wiping out around $40 billion in value last year.

After the bridge closes, all crypto assets still in the contracts will be burned.

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Article Details

Author / Journalist: Jake Simmons

Category: Crypto

Markets: Hungary

Topics: Terra luna Terraform Labs Terra Luna Classic Price LUNC price Terra Luna Classic Terra Terra Luna News Crypto News LUNC

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-28 @ 23:30:23 (3 days ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 458 words

Reading Time: 3 minutes read

Sentences: 31 lines

Sentence Length: 15 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 22291862

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About Bitcoinist

Main Topics: Crypto

Official Website: bitcoinist.com

Update Frequency: 4 posts per day

Year Established: 2014

Headquarters: Hungary

News Last Updated: 9 hours ago

Coverage Areas: Hungary

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Publication Timezone: GMT +8:00

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News Language: English

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Publisher ID: #105

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