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Terraform Labs gifts another $880M to Luna Foundation Guard -Breaking

April 15, 2022April 15, 2022 by Mike Robinson

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Terraform Labs gifts another $880M to Luna Foundation Guard

Luna Foundation Guard receives $880M from Terraform Labs

(LUNA). Terraform Labs, a blockchain developer (TFL), has donated 10 million LUNA to the Luna Foundation Guard at current market prices. It is approximately $820 million.

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.