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Terraform Labs Adds Another $880M to Luna Foundation Guard

After getting the $1.1B donations earlier, the Luna Foundation Guard has received another 10M LUNA tokens from Terraform Labs. 

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 using the Terra. This charity based organization is tasking and collateralizing the network’s algorithmic stablecoin Terra USD (UST). The purpose is to keep it pegged with the U.S. dollar.

Moreover, Terraform Labs’ latest announcement came via Twitter on April 14. However, it did not outline what the funds would go towards specifically. The transaction data from Terra Finder shows that 7.8 million LUNA (roughly $630 million) was promptly transferred out of the LFG’s reserve wallet yesterday.

In addition, Some additional Avalanche (AVAX) tokens could be on the shopping list as well. Considering both TFL and LFG purchased $100 million worth of AVAX last week.

Following Terra’s recent (and ongoing) Bitcoin (BTC) buying spree, which includes the purchase of roughly 2,500 BTC ($100 million). So only two days ago, the wallet belonging to LFG became the 3rd largest holder of digital gold globally. It has a tail behind MicroStrategy and Tesla.

The latest donation to the LFG comes just over a month since Terraform Labs gifted $1.1 billion worth of LUNA, and it could be burnt to mint UST and grow its reserves.

According to the LFG’s accounting records, its total reserve balance stands at $2.44 billion at the time of writing. Along with the BTC representing around 70% of that figure at $1.71 billion.

Despite all of the bullish developments with Terra of late, the price of LUNA is down 7% over the last 30 days to sit at $81.65 at the time of scripting


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