Distribution of assets is 'not possible at this time', says Luna Foundation G...
The fund cited “ongoing and threatened litigation” in its reasons for being unable to distribute its remaining assets to UST users starting with the smallest HODLers. The Luna Foundation Guard, or LFG, a fund focused on the Terra ecosystem, has said it cannot provide a timeline to distribute assets to users following stablecoin TerraUSD depegging from the dollar.In an Oct. 7 Twitter thread, LFG cited “ongoing and threatened litigation” in its reasons for being unable to distribute its remaining assets to UST users starting with the smallest HODLers. The fund’s reserves held more than $4....
Related News
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....
On Sunday, April 10, 2022, the Terra (LUNA) project and Luna Foundation Gaurd (LFG) acquired 4,130 bitcoin worth $176.1 million at the time of settlement. Using today’s bitcoin exchange rates, LFG now has a total of 39,897.98 bitcoin worth $1.7 billion. Luna Foundation Gaurd Obtains $176 Million in Bitcoin for the UST Decentralized Forex Reserve Two days ago, the Luna Foundation Gaurd (LFG) announced a partnership with the Avalanche Foundation and disclosed it would be purchasing $100 million worth of avalanche (AVAX) in an over-the-counter (OTC) exchange. The $100 million in AVAX....
According to reports, South Korean police have asked exchanges to ‘freeze’ the assets of the Luna Foundation Guard (LFG), a non-profit organization that supports the Terra (LUNA) cryptocurrency. Luna’s Non-Profit Under Scrutiny The Seoul Metropolitan Police Agency asked multiple exchanges in the country to prevent LFG from withdrawing funds on Monday (May 23, 2022), according […]
On April 13, Terra’s Luna Foundation Guard (LFG) acquired 2,508.94 bitcoin worth close to $100 million at the time of settlement. The purchase follows the 4,130 bitcoin LFG scooped up three days ago, and LFG’s wallet is now just over 495 bitcoin away from surpassing Tesla’s bitcoin treasury stash.
Luna Foundation Adds More Bitcoin to UST Reserve Wallet
LFG purchased another batch of bitcoin on Wednesday, adding to the non-profit’s bitcoin reserves meant to protect the Terra network’s stablecoin, UST. On April 13, 2022, at 1:55 a.m. (UST), the....
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....