Terraform Labs gifts another $880M to Luna Foundation Guard

Cointelegraph

Published Apr 15, 2022 01:57AM ET

Updated Apr 16, 2022 04:00AM ET

Terra blockchain developer Terraform Labs (TFL) has gifted the Luna Foundation Guard (LFG) 10 million LUNA, worth around $820 million at current prices.

LFG is a nonprofit organization attached to Terra tasked with collateralizing the network’s algorithmic stablecoin, Terra USD (UST), to keep it pegged with the U.S. dollar.

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