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1/ All your $AVAX are ours. a 🌕🔺 #TERRAVAX thesis 🧵 :

Luna Foundation Guard buys $100 million in AVAX for UST’s reserve

LFG bought $231 million in bitcoin the day prior, but this appears to be the first time LFG is buying into another cryptocurrency.

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Do Kwon

@stablekwon

Apr 8

Cant partner with yourself bruv

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The3rd

@KSBISTSR

Apr 8

$AVAX use $UST in their ecosystem thus many many $LUNA get burned 👍...you know what this does to price

Nobody in particular

@icanhasgains

Apr 8

But he literally just said that this move will mean UST gets minted by burning AVAX, not LUNA:

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Do Kwon

@stablekwon

· Apr 8

6/ This means that as $UST adoption grows on Avalanche, $AVAX becomes more scarce - aligning the growth of the stablecoin with the L1's developers and users.

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and

Didn't say burn, said it gets more scarce AVAX gets locked up to unlock $UST Its the same as this, except replace $BTC with $AVAX

6:00 AM · Apr 8, 2022Twitter Web App

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Yangu

@YanguVC

Apr 8

Wen $RUNE reserve pool?

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and

Thanks! That makes more sense. It sounded almost like a two-parter when I read the tweets, i.e, (1) buying AVAX/BTC with a portion when minting on Terra and/or (2) burning AVAX to mint UST. Thanks for clearing it up!

R K

@RK11218563

Apr 8

ok so if I'm reading all of this right - $LUNA still remains the one-source to mint $UST from a mech POV.

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Fantastic, so it'd be redeemed at slightly less than 1 to 1 just like with BTC during a black swan?

Do Kwon

@stablekwon

Apr 8

Yes

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JoeCoolTrader (in solidarity with

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You should consider buying gold to help anchor $UST.

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· Apr 1

Would rather die tbh

twitter.com/PeterSchiff/st…

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Now I can sleep in peace again hugging my $luna bolster. I think the word redeem/swap against is more accurate than burn/mint.

Wolff Sashito

@0xWolff

Apr 8

Agreed. Throwing the word mint around complicated it. Minting should happen at Protocol level (Terra). Now Do says locked up. Locked up in a smart contract maybe & UST is called up. Then again, it says UST becomes native to AVAX. Does that mean it’s different from bridged UST?

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