Terraform Labs announced a new donation of 12 million LUNA to the Luna Foundation Guard, a decentralized organization, that will be directed to continue growing the UST stabilization fund.
Terraform Labs, the company behind the creation of Terra, has announced a new donation to support the ecosystem of the terra token. Do Kwon, CEO of Terraform Labs, announced that the company has donated 12 million LUNA to the Luna Foundation Guard with the goal of continuing to grow its decentralized forex reserve to intervene during stressful market conditions if necessary.Terraform Labs, creator of the terra token, is putting funds toward supporting the growth of its flagship stablecoin, UST.
a new donation of 12 million LUNA to the Luna Foundation Guard, another decentralized organization, that will be directed to grow the stabilization fund to maintain the UST dollar peg.Do Kwon, CEO of Terraform Labs, explained on Twitter that these funds will be used to be burn and mint $UST, which then will be used to grow the reserves of the Luna Foundation Guard.