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Do Kwon 🌕
@stablekwon
1/ The LFG Council just voted to deploy 1.5B in capital (0.75B in BTC, 0.75B in UST) to allay market concerns around UST. Some more context on why and how:
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LFG | Luna Foundation Guard
@LFG_org
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1/ Over the past several days, market volatility across crypto assets has been significant. The market turmoil is also reflected by the past week's uncertain macro conditions across legacy asset classes.
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Do Kwon 🌕
@stablekwon
2/ First, *LFG is not trying to exit its bitcoin position*. The goal is to have this capital in the hands of a professional market maker such that: 1) Buy UST if price < peg 2) Buy BTC if price >= peg thus significantly strengthening the liquidity around UST peg
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Do Kwon 🌕
@stablekwon
No specific price target, we will keep an eye on UST inflows and outflows - but at +/- 50 bips is where we expect trades to be profitable
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cryptoph.eth
@TophCoins
How is this different from what $ichi did? using the treasury to put liquidity in? minus univ3 it seems the same and it seems like that doesn't work long term.
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