Singaporebased luna guard terrastablecoin 100m

Whereas for the average Ethereum user, aligning yourself with Ether doesn’t really mean that much.”

Kwon also said that while Bitcoin will remain the “main backing” of UST stablecoin, the deal with Avalanche “buys a lot of user familiarity” for UST and Terra from Avalanche.

Price Action

AVAX was last changing hands at $87.83, up 3.93% in the last 24 hours. The native token of the Avalanche blockchain has a total market capitalization of $23.5 billion.

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Another 17.7% is in USD coin (USDC), equivalent to USD 398.6m.

Notably, LFG’s reserve balance in US dollars has taken a hit over the last couple of days as the price of BTC and other cryptoassets plunged. At its highest, the reserve reached USD 3.658bn in value.

As previously reported, Terra announced in February that it would partly back its stablecoin UST with bitcoin.
Do Kwon claimed that the foundation aims to purchase USD 10bn in bitcoin.

“UST with [USD]10B+ in BTC reserves will open a new monetary era of the Bitcoin standard,” he said. “P2P [peer-to-peer] electronic cash that is easier to spend and more attractive to hold btc.”

At 7:20 UTC on Wednesday morning, BTC is trading at USD 40,047, unchanged in a day and down more than 12% in a week.

At the same time, the ninth coin per market capitalization, LUNA, is changing hands at USD 85.6.

Foundation Guard (LFG), the non-profit organization built to support Terra, and the Avalanche Foundation for the over-the-counter sale of AVAX will make the crypto asset the second The post Terra (LUNA) Acquiring $100,000,000 of Top Ethereum Competitor After Selecting Bitcoin As Primary Reserve Asset appeared first on The Daily Hodl.Can Avax Reach $500 In 2022? Here’s What To Know About Avalanche! – CryptoTicker

While Bitcoin remains the powerhouse cryptocurrency of the crypto ecosystem, many others have increased the competition. The cryptocurrency remains the most valuable, popular, and attractive digital asset for crypto investors.


Terra expands reserve for UST beyond Bitcoin, buys $100 million Avalanche – CryptoSlate

Terra’s founder Do Kwon announced in March that the blockchain network will buy $10 billion worth of Bitcoin as a reserve for its algorithmic stablecoin, UST.

The post Terra Expands Stablecoin Reserves to Include Avalanche appeared first on BeInCrypto.Luna Foundation to Add $100 Million in AVAX to the UST Decentralized Forex Reserve – Bitcoin

Following the Luna Foundation Guard’s (LFG) purchase of 5,040 bitcoin on Wednesday, the following day the Singapore-based non-profit announced it will be acquiring $100 million avalanche (AVAX) tokens. LFG detailed on Thursday that the purchase is meant to strategically align the Terra network with Avalanche ecosystems.
LFG to Add $100 Million in Avalanche Backing to


Terra Users Heads Up, Why NEAR May Launch Native Stablecoin With A 20% APR – NewsBTC

Crypto Insiders founder Zoran Kole revealed the possible launch of a Near Protocol native stablecoin.

Additionally, the inclusion of Avalanche in the foundation’s UST reserve is a vote of confidence in the project and its long-term prospects. The move also marks the beginning of a diverse pool of Layer-1 (L1) digital assets supporting the UST peg.

Both Avalanche and Terra are L1 blockchains that aim to provide high scalability and security.


They are similar to Ethereum (ETH) in many ways, but also have some unique features. For example, Avalanche uses a new consensus algorithm called “Snowman” that is supposedly more secure and scalable than Ethereum’s soon to be phased out Proof of Work algorithm.

UST to another The post Terra expands reserve for UST beyond Bitcoin, buys $100 million Avalanche appeared first on CryptoSlate.Terra and Avalanche join forces – Crypto Daily

Terra Luna and Avalanche have announced a strengthening of their collaboration in the form of a $100 million treasury swap between LFG (Luna Foundation Guard) and the Avalanche Foundation. Do Kwon, the founder of Terraform Labs, which powers the Terra blockchain, has recently been publicly buying bitcoin in order to back its UST stablecoin reserve.

Terra to Purchase $100M Worth of AVAX to Bolster UST Reserve – Coinfomania

Luna Foundation Guard (LFG), the team behind the Terra (LUNA) network, is going beyond its Bitcoin (BTC) buying spree after announcing via a tweet on Thursday that it will purchase $100 million worth of Avalanche network’s native token, AVAX.

Luna Foundation Guard Buys Additional USD 100M in Bitcoin, Now Holds BTC 42.4K

The Luna Foundation Guard (LFG), a nonprofit organization established in the Republic of Singapore dedicated to creating a reserve protocol for the algorithmic stablecoin UST, has purchased an additional USD 100m worth of bitcoin (BTC), increasing its total holdings to just over BTC 42,400 (USD 1.7bn).

Terra (LUNA)’s founder Do Kwon revealed the news on Twitter, saying that the LFG has bought “an additional [USD] 100M worth of BTC for UST fx reserves,” and sharing a link to the LFG reserves website.

According to this dashboard tracking the reserves, the LFG currently has around USD 2.25bn in reserves, 75.5% – or USD 1.7bn – of which is in bitcoin.

ST tokens, announced Thursday that it is buying $100 million worth of AVAX tokens from the Avalanche network.

The organization made the announcement via Twitter explaining that “Terra will also be further solidified with a $100 million Treasury Swap between TFL [Terraform Labs] and the Avalanche Foundation of $LUNA < $AVAX to strategically align ecosystem incentives!.”

1/ Thrilled to reveal the blossoming collaboration between @avalancheavax and Terra will also be further solidified with a $100 million Treasury Swap between TFL and the Avalanche Foundation of $LUNA < $AVAX to strategically align ecosystem incentives!https://t.co/z9A86CWZDs

— Terra (UST) 🌍 Powered by LUNA 🌕 (@terra_money) April 7, 2022

This move further boosts the credibility of Avalanche and its native token AVAX, as a major player in the digital asset space.

Avalanche (AVAX) tokens. Earlier in the year, the Terraform Labs CEO, Do Kwon, announced that it is planning to build a reserve …Digital Assets: LFG to Acquire $100M in AVAX Tokens to “Strategically” Align Terra, Avalanche Ecosystems – CrowdFundInsider

The Luna Foundation Guard (LFG), a recently formed non-profit to support decentralization, economic sovereignty, and foster the growth of the Terra ecosystem, “will add AVAX to its new UST Decentralized Forex Reserve.” By diversifying the base of non-correlated assets “to major assets like BTC and.

Terra (LUNA) Acquiring $100,000,000 of Top Ethereum Competitor After Selecting Bitcoin As Primary Reserve Asset – The Daily Hodl

Public blockchain Terra (LUNA) is buying $100 million worth of Avalanche (AVAX) tokens to boost its Terra USD (UST) stablecoin reserves.

Terra to Purchase $100M Worth of AVAX 1/ Thrilled to reveal the blossoming collaboration between @avalancheavax and Terra will also be further solidified with a $100 million Treasury Swap between TFL and the Avalanche Foundation of $LUNA $AVAX to strategically align ecosystem incentives!https://t.co/z9A86CWZDs — Terra (UST) ? Powered by LUNA ? (@terra_money) April 7, 2022 According to Terra, AVAX will The post Terra to Purchase $100M Worth of AVAX to Bolster UST Reserve appeared first on Coinfomania.Terra Expands Stablecoin Reserves to Include Avalanche – BeInCrypto

The aggressive Bitcoin buying by the Terra ecosystem has been big news lately, and it has now expanded beyond that one reserve asset to include Avalanche.

In fact, Avalanche achieves finality by having three interconnected blockchains instead of the usual one, making the network one of the most, if not, the most reliable and secure blockchain platform available today.

Terra also uses a new consensus algorithm called “Tendermint” that is claimed to be more energy efficient than Ethereum’s.

In an interview with Bloomberg News, the founder of Terraform Labs (LUNA), Do Kwon, who last month said TerraUSD would be backed by at least $10 billion worth of Bitcoin (BTC), explained that the foundation chose Avalanche over smart contracts network Ethereum due to the former’s impressive growth and vast fan base.

“Avalanche is still a growing ecosystem…a lot of it is fueled by loyalty to the AVAX token and users feel a lot of affinity with an asset that aligns itself with AVAX,” Kwon said.

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