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1/ The first step towards {REDACTED} is now complete.
Introducing the formation of the Luna Foundation Guard (LFG).
lfg.org
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3/ TFL is donating 50M Luna to LFG to focus on the stability and adoption of $UST, and to cement its place as the undisputed leader in decentralized money across all blockchains.
Right now that's $4B worth of assets - what to do?
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4/ Concretely, LFG will be doing two things:
First, building a decentralized forex reserve against which $UST can be redeemed during currency contractions. It will work towards reserves to operate decentralized and onchain.
Expect fewer cockroaches.
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5/ Second, LFG will be funding public goods projects via grants, and will be a counterweight to TFL in the ecosystem.
Decentralization wins.
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6/ LFG is governed by top builders in the ecosystem, and the gov council will regularly be nominating new members to join as the eco matures.
Genesis members are here:
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7/ Stability and adoption was in the title of the Terra White Paper, and has always been the guiding goals of my work at TFL.
Glad to have a partner organization working with us on the journey forward, and without further ado, L F G ๐
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Where are we going?
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Why do I feel the next part of [REDACTED] is full decentralization (TFL leaving)
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The achievements of & in such a short period are truly inspirational & historical . LFG ๐
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