Cryptocurrency News

Terraform Labs gifts another $880M to Luna Foundation Guard

04/15/2022

Less than a minute

2022.04.15 10:41

Terraform Labs gifts another $880M to Luna Foundation Guard

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.

04/15/2022

Less than a minute

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