Terraform Labs Launches Nonprofit Luna Foundation Guard - Aliens: AI Crypto News & Markets Updates
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Terraform Labs Launches Nonprofit Luna Foundation Guard

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Crypto Briefing

Thu, Jan 20, 2022

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Terraform Labs, the company behind the Terra blockchain, has formed the Luna Foundation Guard.

The LFG is a nonprofit organization focused on ensuring the price stability of the TerraUSD stablecoin and fostering the growth of the Terra ecosystem.

Terraform Labs has funded the LFG with a donation of 50 million LUNA, currently worth over $4.1 billion.

Terraform Labs, the company behind the Terra blockchain, has announced today the formation of the Luna Foundation Guard—a non-profit created to foster the growth of the Terra ecosystem.

Terraform Labs has announced the formation of “LFG,” otherwise known as the Luna Foundation Guard—a non-profit organization established to support the Terra ecosystem and safeguard the stability and adoption of its flagship stablecoin, TerraUSD.

https://t.co/oqke82OUB2 pic.twitter.com/QKGwrhmtMH — Terra (UST) 🌍 Powered by LUNA 🌕 (@terra_money) January 20, 2022 Terraform Labs is the founding company behind Terra, the second-largest smart contract blockchain by total value locked behind Ethereum.

Commenting on the formation of the LFG, Terraform Labs co-founder and CEO Do Kwon said in a press release: “The LFG mandate to continuously support the peg stability of Terra’s stablecoins and ecosystem development powered by Terra’s best builders offers a new pathway for the growth and sustainability of decentralized money.

According to Do Kwon, the LFG will serve as a “counterweight” to Terraform Labs’ participation in the Terra ecosystem and help decentralize the network.

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