Hassan Maishera
The Terra team told its community via a tweet on Monday that its Shuttle is not down. Rather, the Terra network was experiencing some broadcast delays per network congestion. Shuttle is a Terra-Ethereum bridge and allows Terra assets to be sent between Terra and Ethereum networks.
Terra is an algorithmic stablecoin platform operating on a Proof of Stake (PoS) blockchain infrastructure built with Tendermint. LUNA, the native token of the Terra ecosystem, is down by more than 55% in the last 24 hours and is trading at $31.25 at press time.
