Amid Terra’s ongoing BTC shopping spree, Terraform Labs has donated 10M LUNA to the Luna Foundation Guard, suggesting another Bitcoin purchase may be on the cards.
Terra blockchain developer Terraform Labs has gifted the Luna Foundation Guard 10 million LUNA worth around $820 million at current prices.
The Luna Foundation Guard is a nonprofit organization attached to Terra that is tasked with collateralizing the network’s algorithmic stablecoin Terra USD to keep it pegged with the U.S. dollar. Terraform Labs’ latest announcement came via Twitter on April 14, but did not outline what the funds will go towards specifically. However, transaction
from Terra Finder shows that 7.8 million LUNA was promptly transferred out of the LFG’s reserve wallet yesterday.
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