The Moons bridge to Arbitrum Nova has been deprecated. Accordingly, admins are reportedly planning to burn 4.77m Moons next week.
Admins’ stand following the deprecation of Arbitrum bridge
The Moons’ admins plan to burn 4.77m moons next week.
This list represents the share of Moons that wasn’t bridged to Nova and lay in previous networks.
About 4.1m Moons, which accounts for 90%, are locked on Rinkeby Ethereum.
How did the Moons end up on Arbitrum Nova?
In the past, the system behind the Moons was on “testnet.” However, after years of development with the Reddit community, they moved the community points to a mainnet.
r/Cryptocurrency Moons(MOON) has been firm in recent weeks, market data shows.
Arbitrum Nova launched in August 2022 as an Ethereum layer-2, aiming for higher capacities and low transaction fees. It leverages AnyTrust technology and offers more energy-efficient solutions.
Following the launch, some users, including Moons, used Nova to bridge and develop their projects. According to the r/Cryptocurrency subreddit, the Moons migrated to Arbitrum Nova about five months ago. Moon balances in the vaults were automatically moved to the mainnet.
After the migration, users who hold Moons in their vault will have their Moons moved to the Ethereum layer-2. Similarly, if one has used the bridge in the past, Moons will be on Nova. Moreover, the platform provided a new bridge for Moons not in the vault for the user to move the Moons themselves.
Several reminders have been made for any moons still on other networks to migrate to the mainnet. After the bridge was deprecated, the platforms could only do much to migrate the moons from Rinkeby to Mainnet. The mainnet offers the security of production blockchains to Moons. Blockchains also provide a sense of ownership.
The platform took a 3-month time frame to move Moons from Ethereum Rinkeby to the Nova. They also warned the users to migrate the Moons to avoid losing access.