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Terra Community Burns 4 Mln LUNA Tokens To Build Stablecoin Reserves

source-logo  coingape.com  + 3 more 15 March 2022 12:41, UTC

The Luna Foundation Guard (LFG), a blockchain community centered around the Terra network, said it had burnt 4 million LUNA tokens to mint about 372 million of the stablecoin TerraUSD (UST).  The UST proceeds will go towards acquiring more collateral to bolster the foundation’s non-LUNA reserves.

coingape.com

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