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Update for Terra synth holders (from the latest Weekly Dev Updates): 
 
TERRA synth holders: 
When the pools are destroyed, the RUNE backing the Synths will be transferred from the pool to the reserve. At a future date, holders will be able to transfer their synthetic assets to a designated address. After the Synths are received at that address, they will be burned and users will be manually credited back the equivalent value in RUNE of their Synths at the time of the pool Ragnarok.

Sam Yap in THORChain Community

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Update: Option 3- RAGNAROK of Terra chain has been voted for by the nodes.

Ragnarok Summary (so far):
- Wait for v1.91 update
- Single-sided LPs are refunded first (asym withdrawal with usual slip calcs)
- Then dual-sided (sym withdrawals)
- ILP will be applied
- Synth holders redemption: https://t.me/thorchain_org/466578

Update: Option 3- RAGNAROK of Terra chain has been voted for by the nodes. Ragnarok Summary (so far):. - Wait for v1. 91 update.