The Moons Bridge to Arbitrum Nova has been obsolete. Consequently, administrators reportedly plan to burn 4.77 million moons next week.
Administrators stand after the disapproval of the Arbitrum bridge
The Moon administrators plan burn 4.77 million moons next week.
This list represents the part of Moons that did not join Nova and was in previous networks.
Around 4.1 million moons, which is 90%, are locked on Rinkeby Ethereum.
How did the Moons end up in 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 main network.
r/Cryptocurrency Moons(MOON) Has Been Holding Firm In Recent Weeks, Market Data shows.
Arbitrum Nova launched in August 2022 as a Layer 2 of Ethereum, aiming for higher capacities and low transaction fees. Take advantage of AnyTrust technology and offer more energy efficient solutions.
After the release, some users, including Moons, used Nova to bridge and develop your projects. According to the r/Cryptocurrency subreddit, the Moons migrated to Arbitrum Nova about five months ago. Moon balances in vaults were automatically moved to the mainnet.
After the migration, users who have moons in their vault will move their moons to layer 2 of Ethereum. Similarly, if one has used the bridge in the past, Moons will be in Nova. Also, the platform provided a new bridge for the non-vault moons for the user to move the moons around.
Several reminders have been made for moons that are still on other networks to migrate to the main network. After the bridge became obsolete, the platforms could only do so much to migrate the Rinkeby moons to the Mainnet. The mainnet offers the security of production blockchains to Moons. Blockchains also provide a sense of ownership.
It took the platform 3 months to move Moons from Ethereum Rinkeby to Nova. They also warned users to migrate the Moons to avoid losing access.
