Luna Foundation Guard Launches to Support UST Peg as Stablecoin Blows Past $1...

Luna Foundation Guard Launches to Support UST Peg as Stablecoin Blows Past $1...

The Luna Foundation Guard, a new decentralized organization developed to support the Luna ecosystem, has been launched last week in Singapore. The institution will offer funding in the form of grants to support initiatives built on top of the Luna network. One of its biggest functions will be to establish a “forex reserve” that will aid UST, the companion stablecoin of the Luna ecosystem, to maintain its peg. Luna Foundation Guard Launches to Support Terra Ecosystem The Luna Foundation Guard, a non-profit organization, has launched to help support and maintain the....


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Demand for UST Keeps Rising, Luna Foundation Guard to Burn 4.2 Million LUNA F...

The Luna Foundation Guard (LFG), a nonprofit organization, has announced new measures to keep the supply of UST, the flagship stablecoin of the Terra ecosystem, liquid in secondary markets. The protocol has already reached the max issuance of UST per day, but demand is strong enough that the foundation will have to burn more LUNA to guarantee the supply of UST in these markets. Luna Foundation Guard to Burn 4.2 Million LUNA for UST The Luna Foundation Guard, an organization dedicated to supporting projects from the Terra ecosystem, has decided to act to increase the supply of UST....

Luna Foundation Guard Discloses Usage of Bitcoin Reserves

The Luna Foundation Guard, the entity in charge of safeguarding the peg of UST, the stablecoin of the Terra ecosystem, has revealed how it used the available Bitcoin reserve before the recent debacle involving the Terra ecosystem. The organization sold part of the bitcoins owned directly, while another part was traded on different dates to try and stabilize the value of UST. The reserve was comprised of more than 80,000 BTC. Luna Foundation Guard Clarifies Reserve Movements The Luna Foundation Guard (LFG), the organization tasked with safeguarding the dollar peg of UST, the....

Terraform Labs Donates 12 Million LUNA to Luna Foundation Guard

Terraform Labs, the company behind the creation of Terra, has announced a new donation to support the ecosystem of the terra (LUNA) token. Do Kwon, CEO of Terraform Labs, announced that the company has donated 12 million LUNA (approximately $1.2 billion) to the Luna Foundation Guard (LFG) with the goal of continuing to grow its decentralized forex reserve to intervene during stressful market conditions if necessary. Terraform Labs Fills LFG Vaults Terraform Labs, creator of the terra token, is putting funds toward supporting the growth of its flagship stablecoin, UST. The company....

Luna Foundation Guard Raises $1 Billion to Safeguard UST Dollar Peg

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Terraform Labs gifts another $880M to Luna Foundation Guard

After receiving a $1.1B donation last month, the Luna Foundation Guard has received another 10M LUNA tokens from Terraform Labs. Terra (LUNA) blockchain developer Terraform Labs (TFL) has gifted the Luna Foundation Guard 10 million LUNA worth around $820 million at current prices. The Luna Foundation Guard (LFG) is a nonprofit organization attached to Terra that is tasked with collateralizing the network’s algorithmic stablecoin Terra USD (UST) to keep it pegged with the U.S. dollar. Terraform Labs’ latest announcement came via Twitter on April 14, but did not outline what the funds will....