“Terra 2.0” Project Launches Transport Bridge Over Blockchain Networks and “LUNA” Token Is Still At $6
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Answer “Terra 2.0” Project Launches Transport Bridge Over Blockchain Networks and “LUNA” Token Is Still At $6
Terra launched the “Terra Bridge V2” on the main network using “Cosmos IBC” and “Axelar Network”.
The bridge will allow users to perform cross-blockchain transfers of digital tokens between Terra 2.0, Ethereum, Osmosis, Secret, Cosmos, and Juno.
In addition, people can use the Terra Bridge in Terra Classic to transfer digital tokens that are supported by Axelar, Shuttle, and Wormhole.
However, Axelar and Shuttle are marked in red by Terra which means Wormhole is the only supported option.
Terra Bridge allows the option to transfer across networks:
The Terra Bridge web application will allow users to transfer Terra digital assets over other blockchain networks via their own bridges.
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Users can connect their wallets through a browser plugin.
Supported wallets include Terra Station on Terra 2.0, MetaMask, Coinbase or Trustwallet of WalletConnect on Ethereum and Binance Chain Wallet or MetaMask on the Binance Blockchain (BSC).
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Axelar is only supported for network transfer between Terra and Ethereum.
This will allow users to convert Axelar USD (axlUSDC) and Axelar Tether (axlUSDT) currencies.
While Cosmos IBC is supported to transfer LUNA over networks from Terra to Osmosis, Secret, Cosmos and Juno.
Interestingly, Terra Bridge V2 also supports tokens LunaX, ampLUNA, axlWBTC, axlWETH and GRAV on Terra to Terra.
Users looking to use the bridge with Terra Classic can switch to Terra Bridge Classic.
The price of the digital currency LUNA was not affected after the launch of the bridge:
The launch of “Bridge V2” led to a 5% drop in the price of LUNA before the coin rebounded and stabilized at $6.
According to CoinMarketCap, the digital currency LUNA is currently trading at $6.38 at the time of publication.
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Meanwhile, Terra Classic (LUNC) is down 1%, with the current price trading at $0.0009347.
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