Luna Foundation to Lend $1.5 Billion in Bitcoin and UST to Market Makers — Pl...
As crypto markets continue to slide in value, concerns about the algorithmic stablecoin terrausd (UST) losing its $1 parity have swelled in recent times. Two days ago on May 7, 2022, UST dipped down to $0.985 per unit against tether (USDT), and the stablecoin’s price drop invoked a great deal of speculation concerning UST losing its dollar peg. Following the drop on Saturday, the Luna Foundation Guard (LFG) revealed it was lending out millions of dollars worth of bitcoin and UST in order to protect the peg until market conditions normalize. Crypto Market Carnage Strains Algorithmic....
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According to a report published on Thursday, the Luna Foundation Guard (LFG) explained that it acquired 37,863 bitcoin worth more than $1.4 billion through two over-the-counter deals. The LFG now holds 80,394 bitcoin in its reserves currently worth just under $3 billion using today’s exchange rates. Luna Foundation Guard Scoops up 37,863 Bitcoin On May 5, 2022, the Luna Foundation Guard reported that it purchased 37,863 bitcoin (BTC), worth a touch over $1.4 billion at the time of writing. LFG, the non-profit based out of Singapore aims to have $10 billion of stablecoin reserves by....
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....
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....
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....
The Luna Foundation Guard (LFG) has raised $1 billion in a private token sale to allow the group to safeguard the peg of UST, Terra’s flagship stablecoin, against market instabilities. While the token has an algorithmic method to maintain its dollar value, this decentralized reserve — which will be stored in BTC — aims to allow the foundation to intervene if these methods prove to be insufficient. Luna Foundation Guard Introduces $1 Billion BTC Decentralized Reserve The Luna Foundation Guard (LFG), a nonprofit organization established in January with the objective of....