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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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Do Kwon

@stablekwon

Apr 8

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

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Daniel Lux.kuji

@Thuxo_Lux

Apr 8

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

Replying to

Yes

6:13 AM · Apr 8, 2022Twitter Web App

Replying to

Wider spread though

Thanks