Conversation

Do Kwon πŸŒ•
@stablekwon
1/ The LFG.org board has voted to capitalize the
@anchor_protocol
yield reserve by 450M UST. Details here: agora.terra.money/t/capitalising
Quote Tweet
cpt n3mo
@cptn3mox
Β·
1/ A Proposal has been made for the Luna Foundation Guard (β€œLFG”) to capitalise @anchor_protocol's yield reserve by $450m Anchor is the heart of @terra_money and will continue to be as the network matures Please read and discuss agora.terra.money/t/capitalising
Show this thread
116
2,701
Do Kwon πŸŒ•
@stablekwon
2/ LFG will: - Withdraw 9.5M Luna on Feb 11th 12pm SGT - Swap 9.5M Luna to UST over the course of 5-10 days, which should result in ~450M UST being minted - Send the resultant UST to the Anchor yield reserve contract when the swaps have been completed
53
1,078
This Tweet was deleted by the Tweet author. Learn more
πŸ’­
@0xngahere
9.5m Luna burnt in one go plus ust mcap increases 450m mate win win
1
1
Show replies
Show replies
das studio
@dasstudio6
Replying to
@stablekwon
and
@thasonofabit
I think he meant that this 9,5m luna wouldn't hit the market otherwise, at least not in that moment. we all understand the correlation between luna & ust. So more ust not coming from burning luna in CIRCULATION would potentially make impact on luna price in "future crisis".
1