3/ The migration is expected to take roughly 2 hours pending no extenuating circumstances.
The initiation of the migration will be relayed publicly both 1 hour before its execution and also at the precise time that the Col-4 chain halts.
4/ Once the migration is initiated, please DO NOT interact with the Terra blockchain.
This means do not attempt to send transactions, access wallets, or interact with dApps on the Terra network during this time.
5/ Once the mainnet migration is complete, an announcement will be released officially confirming that Columbus-5 is live, stable, and ready to use.
At that point, users and developers will be able to interact with Columbus-5 as the new Terra mainnet.
6/ Individual applications, specifically @mirror_protocol and @anchor_protocol, will initiate a 3-hour window for users with open debt positions to deposit collateral and safely ensure liquidation risk is mitigated for those users AFTER the completion of the mainnet migration.
7/ You can find the individual rundowns of how the execution of the price feed freeze will occur for both Mirror and Anchor in the respective Tweet threads below:
14/ If youβre a developer, user, or validator with specific questions pertaining to the Columbus-5 mainnet migration, please refer to the official comms channels on Telegram and Discord for assistance as we prepare for launch.
15/ Please stay tuned for ongoing updates about Columbus-5.
Again, #LUNAtics, we please ask that you help maximize the dissemination of the Col-5 migration information to reduce any information asymmetries prior to launch.
Almost time to fly π
β’ β’ β’
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1/ Columbus-5 is now officially live as the new Terra mainnet!
Welcome to the future of Terra π
2/ Col-5 unlocks numerous dimensions for the Terra ecosystem to better capture value, port assets across IBC-enabled chains, and set the foundation for a vibrant TeFi economy.
3/ Economic Changes:
Columbus-5 simplifies the Treasury Module logic of the Terra protocol so that 100% of the $LUNA seigniorage generated by the expansion of the $UST supply is burned.
1/ Important Bombay-11 β Bombay-12 testnet update in preparation for the Columbus-5 mainnet launch.
NOTE -- Bombay-12 does not contain breaking changes to Bombay-11, but developers still need to migrate to the new testnet in preparation for the Col-5 mainnet.
2/ The latest core release v0.5.5 for Columbus-5 and the new Bombay-12 testnet will occur on:
Jump has quietly played a pivotal role in the Terra ecosystem for a long time and is one of the most well-reputed, talented, and strategically important firms in the broader market.
Watching an established TradFi firm dive headlong into crypto underscores the potential of the crypto industry. As premier builders and market makers in crypto already, Jump Crypto opens up an array of new possibilities.
3/ @wormholecrypto and @PythNetwork are just the beginning. We look forward to a vibrant future with the Jump team, expanding our co-initiatives in liquidity, market-making, building, and other forms of collaboration.
1/ The Columbus-5 mainnet deployment will be delayed ~3 weeks until a new block height of 4,724,000, roughly equivalent to the following times:
9/29 at 20:30 PST
9/30 at 03:30 UTC
9/30 at 12:30 KST
2/ No need to fret, as the goal is to implement some extra precautionary measures for the rollout of Terraβs most significant mainnet upgrade yet to ensure the smoothest launch possible.
3/ For some context, the Columbus-5 mainnet upgrade is massive.
Behind the scenes, numerous moving parts require attentive and thorough examination from multiple perspectives + reviews between TFL, eco partners, the community, and projects dependent on Terra applications.
With V2 now live and the Guardian set supporting Terra on mainnet, inter-chain DeFi between @ethereum, @solana, @BinanceChain, and Terra can realize its full potential.
2/ TFL will be converting its Shuttle bridge implementations to Wormhole, meaning that the Terra -- ETH and Terra -- BSC Shuttle bridges will be migrated to Wormhole, which will remain available on the Terra Bridge UI just with different back-end functionality.
3/ Solana will be added to the Terra Bridge UI as well, utilizing Wormhole. Stay tuned for further updates.
Eventually, the goal is for Terra Bridge to serve as the unified front-end for inter-chain transfers between Terra and other chains, including both Wormhole and IBC.