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CoinGape 2022-03-15 12:20:06

Terra Community Burns 4 Mln LUNA Tokens To Build Stablecoin Reserves

The Luna Foundation Guard (LFG), a blockchain community centered around the Terra network, said it had burnt 4 million LUNA tokens to mint about 372 million of the stablecoin TerraUSD (UST). The UST proceeds will go towards acquiring more collateral to bolster the foundation’s non-LUNA reserves. The move comes as growing volatility in the market The post Terra Community Burns 4 Mln LUNA Tokens To Build Stablecoin Reserves appeared first on CoinGape.

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