{"id":24164,"date":"2022-04-15T04:12:04","date_gmt":"2022-04-15T08:12:04","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=24164"},"modified":"2022-04-15T04:12:16","modified_gmt":"2022-04-15T08:12:16","slug":"terraform-labs-donates-another-880-million-to-luna-foundation-guard","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/terraform-labs-donates-another-880-million-to-luna-foundation-guard\/","title":{"rendered":"Terraform Labs Donates Another $880 Million To Luna Foundation Guard"},"content":{"rendered":"\n
The Luna Foundation Guard has received another ten million LUNA tokens from Terraform Labs<\/a>, following a $1.1 billion donation last month.<\/h5>\n\n\n\n
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Terraform Labs donates $880 million to Luna Foundation Guard<\/figcaption><\/figure>\n<\/figure>\n\n\n\n

Terraform Labs (TFL), the developer of the Terra (LUNA) blockchain, has gifted the Luna Foundation Guard ten million LUNA, which is worth approximately $820 million at current prices.<\/p>\n\n\n\n

The Luna Foundation Guard (LFG) is a Terra-affiliated nonprofit organization tasked with collateralizing the network's algorithmic stablecoin Terra USD (UST<\/a>) to maintain its peg to the US dollar.<\/p>\n\n\n\n

Terraform Labs' most recent announcement, made via Twitter on April 14, did not specify what the funds would be used for. However, Terra Finder transaction data\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> indicates that 7.8 million LUNA (approximately $630 million) were quickly transferred out of the LFG's reserve wallet yesterday.<\/p>\n\n\n\n
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\"\"<\/figure>\n<\/figure>\n\n\n\n

Given Terra's recent development, led by founder Do Kwon, who has set a goal of amassing $10 billion in Bitcoin (BTC<\/a>) to back the UST's reserves, many anticipate that a portion of the funds will be used to build Terra's digital gold stash. Another portion of LUNA may be burned (to maintain the UST\/USD peg.)<\/p>\n\n\n\n

Additional Avalanche (AVAX) tokens may also be on the shopping list, given that both TFL and LFG recently purchased $100 million worth of AVAX.<\/p>\n\n\n\n

Following Terra's recent (and ongoing) Bitcoin (BTC) buying spree, which included the purchase of approximately 2,500 BTC ($100 million) just two days ago, the wallet used by LFG has surpassed MicroStrategy and Tesla to become the world's third-largest holder of digital gold.<\/p>\n\n\n\n

The latest donation to the LFG comes less than a month after TFL gifted the LFG $1.1 billion in LUNA to be burned to mint UST and increase its reserves.<\/p>\n\n\n\n

According to the LFG's accounting records<\/use><\/svg><\/span><\/a>, its total reserve balance is currently $2.44 billion, with BTC accounting for roughly 70% of that total, at $1.71 billion.<\/p>\n\n\n\n
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\"\"<\/figure>\n<\/figure>\n\n\n\n

Despite recent bullish developments with Terra, LUNA's price has fallen 7% in the last 30 days to $81.65 at the time of writing.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Luna Foundation Guard has received another ten million LUNA tokens from Terraform Labs, following a $1.1 billion donation last month. Terraform Labs (TFL), the developer of the Terra (LUNA) blockchain, has gifted the Luna Foundation Guard ten million LUNA, which is worth approximately $820 million at current prices. The Luna Foundation Guard (LFG) is […]<\/p>\n","protected":false},"author":33,"featured_media":24165,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[9175,6200,8081],"class_list":["post-24164","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-luna-foundation-guard","tag-terra-2","tag-terraform-labs-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/04\/shutterstock_2043805262-2.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/24164","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=24164"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/24164\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/24165"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=24164"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=24164"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=24164"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}