A new system codenamed Terra Bridge V2 has recently been launched on the Terra mainnet. This is the latest step taken by Terra to get the embattled ecosystem back on track.
The Terra Bridge V2 is built to enable users to transfer their tokens between various blockchains such as Ethereum, Secret, Cosmos, Osmosis, and Juno.
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The assets that can be transferred through this bridge are Terra (LUNA 2.0) and Terra Classic (LUNC). LUNA 2.0 is the token of the new Terra blockchain, while LUNC (LUNA Classic) is the token of the old chain that collapsed, which has now been renamed Terra Classic.
Although a larger part of the Terra community support Do Kwon on this, many members are still clamoring for a massive burn of Terra Classic (LUNC).
The newly launched Terra Bridge V2 serve as a means for Terra team to win back the trust of the devastated community members. However, it seems the team of Terra developers are only focused on the new LUNA token as support vastly shifts away from LUNA Classic (LUNC).
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Terra Bridge V2 gives users various means to access LUNA and LUNC. The only caution users need to take is to ensure that they don’t use exchange addresses when transferring tokens across different networks.
But with the look of things, support for LUNC on the Terra Bridge V2 may not last long. Going by the indication on the official website, support for UST and Terra Classic (LUNC) was to be halted on the 31st of May 2022. The actual meaning of this remains unclear since the day has passed and the launch of the Terra Bridge V2 has just been announced.
