Terra developer Terraform Labs donates 10 million LUNA to Luna Foundation Guard. The amount in question corresponds to approximately $ 810 million for LUNA, which was traded at $ 81 at the time of publication.
Terra announced that it has donated 10 million LUNA to the Luna Foundation Guard, a non-profit organization that creates Bitcoin reserves for UST. It is anticipated that the fund will be used to support the UST. As it is known, Terra is often criticized for the LUNA – UST relationship and commentators seem to agree that this is an unsustainable strategy.
On the other hand, this donation is not the first major LUNA donation the company has made to the foundation. The company also sent 12 million LUNA in March 2022. Terraform CEO Do Kwon said that some of the 12 million LUNA in question was burned to print the UST, and the rest was added to the foundation’s stablecoin reserves.
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