Cryptocurrency Q&A
Did terraform labs give 10 million Ust tokens to Luna Foundation guard?
Did terraform labs give 10 million Ust tokens to Luna Foundation guard?
Alessandro
Fri Jul 19 2024
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7 answers
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Could you elaborate on the reported instance where Terraform Labs allegedly distributed 10 million UST tokens to Luna Foundation Guard? Is there any official confirmation from either party? If so, what were the reasons behind this transfer? Was it a part of a strategic partnership or a one-time gift? Did this transaction have any significant impact on the market capitalization or token prices? And finally, how do industry experts view this move, considering the current state of the cryptocurrency market?
7 answers
alexander_watson_astronaut
Sun Jul 21 2024
LFG is a nonprofit organization with a primary mission of accumulating bitcoin (BTC) reserves for the stability and sustainability of UST.
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SamsungShineBrightnessRadianceGlitter
Sun Jul 21 2024
The donation represents a significant step in Terraform Labs' strategy to support the growth and resilience of the UST ecosystem.
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GwanghwamunPride
Sun Jul 21 2024
Terraform Labs, the creator of the UST algorithmic stablecoin and its companion token LUNA, recently allocated a significant sum to the Luna Foundation Guard (LFG).
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CharmedFantasy
Sun Jul 21 2024
The LUNA tokens donated will likely be used by LFG to purchase BTC, further strengthening the reserve and potentially enhancing the stability of UST.
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KimonoElegance
Sun Jul 21 2024
According to The Block, 10 million LUNA tokens, valued at approximately $820 million, were donated to LFG.
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