Luna Foundation Guard has raised $2.2 billion for Terra stablecoin UST’s BTC reserves
The founder of Terra (LUNA) has recently revealed that the Luna Foundation Guard (LFG) has raised $2.2 billion to create a Bitcoin (BTC) reserve for the protocol’s UST stablecoin.
The reserve is set to increase the stability of UST. As the value of the flagship cryptocurrency is less correlated to Terra’s ecosystem, reserves in it are expected to mitigate the risk of a potential death spiral for UST in stress scenarios.