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Binance Lists LUNA, UST and Terra Blockchain Resumes Block Production

Summary: Binance has announced that it will relist Terra (LUNA) and TerraUSD (UST) This is after the Terra blockchain was restarted and block production resumed CZ had earlier expressed concerns about the way the Terra team handled the UST depegging and inflation of LUNA The popular crypto exchange of Binance has announced that it will…

Summary:

  • Binance announced it will relist Terra and TerraUSD (UST )
  • ).

  • This was after the Terra blockchain restarted and block production was resumed
  • CZ previously expressed concern about how Terra handled the UST depegging, inflation of LUNA

The popular crypto exchange of Binance has announced that it will relist Terra (LUNA) and TerraUSD (UST). Binance will also resume spot trading for LUNA/BUSD, and UST/BUSD trading pairs .’

The exchange had initially planned to resume trading, deposit, and withdrawals of the Terra assets today at 14: 00 (UTC). However, the trading of LUNA/BUSD and UST/BUSD was delayed by 30 minutes to officially restart at 14: 30 UTC.

Spot trading for LUNA/BUSD and UST/BUSD will resume at 2: 30pm UTC, May 13 2022.

— Binance (@binance) May 13, 2022

Terra Blockchain Resumes Block Production

Binance relisting LUNA/UST occurred moments after Terra announced that its blockchain has resumed block production. The team at Terra posted the update on Twitter through the following statement.

The Terra blockchain has resumed block production.

Validators decided to disable on chain swaps and IBC channels are now shut down.

Users should bridge off-chain assets such as bETH to their native chains.

Note – Wormhole bridge currently not available

Update: Wormhole bridge is now available

Yesterday, the Terra Blockchain was halted by the team to prevent governance attacks that could occur as a result of the severe inflation of LUNA. Terra’s team applied a patch to disable delegations from the network.

Binance CEO Expressed Concerns About How the Terra Team Handled UST Depegging and LUNA’s Inflation

Earlier today, the CEO of Binance, CZ, shared his thoughts via Twitter on the depegg

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