Luna Foundation Guard was gifted 880 million by the Terraform labs

The developer of Terra blockchain, Terraform Labs (TFL) has presented the LFG or Luna Foundation Guard with 10 million LUNA tokens which is around 820 million US dollars at the current price. Luna Foundation Guard is a nonprofit organization that is attached with Terra and is tasked with endorsing the algorithmic stablecoins of the network, UST or Terra USD in order to keep it linked with the US Dollar.

The latest announcement of TFL was made on Twitter on Thursday but the announcement has not specifically mentioned where the funds would be particularly allotted. But according to the transaction data received from the Terra Finder, 7.8 million LUNA tokens, which amounts to roughly 630 million dollars, were instantly transferred out of the reserve wallet of LFG on Thursday.


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