Terra Announces Non-Profit ‘Luna Foundation Guard’

Terra Luna’s ‘lunatics’ have had their sights set on a multi-part announcement that’s set to unveil, and this week the primary piece of the puzzle has come to life.

This week, Terra introduced the formation of a brand new non-profit group, the Luna Foundation Guard (LFG), that’s “dedicated to supporting the advancement of open-source technology, facilitating the growth of the Terra ecosystem, and improving the sustainability and stability of Terra’s algorithmic stablecoins.”

Terra Says “LFG”

Terra has launched a devoted touchdown web page, lfg.org, outlining the group, mission, and funding & grants round LFG. The new non-profit will emphasize quite a lot of main pillars that they see as core in advancing the ecosystem.

Founder and CEO of Terraform Labs, Do Kwon, additionally launched a current tweet thread highlighting the foremost pillars behind LFG:

In all, the Foundation will function a mechanism to proceed driving engagement and adoption of Terraform Lab’s rising stablecoin, UST. Adoption of UST has continued to develop because the token, seen broadly as one of the vital decentralized but mainstream stablecoin choices at the moment out there, approaches an $11B market cap.

The aforementioned Do Kwon will lead the cost for the Luna Foundation Guard, alongside founding member Nicholas Platias and a number of other governing council members. The group will deploy basis grants, beginning on the finish of the month, to blockchain initiatives within the ecosystem that tackle open-source growth, analysis and training, and neighborhood progress throughout the Terra community.

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Luna, the tradable token that arguably serves because the 'spine' of the Terra ecosystem, has carried out exceptionally effectively over the previous yr. | Source: LUNA-USD on TradingView.com

One Of Three… What’s To Come?

As talked about beforehand, this announcement is slated to be the primary of three, from what began as a teaser picture of the quilt photograph used right here. That photograph led many ‘lunatics’ to take a position on what may very well be coming – the 2 intersecting circles led many to consider that an incoming MasterCard partnership may very well be coming, and lots of Terra fanatics believed that some kind of Bitcoin-related help may very well be delivered to life as effectively.

Speculation apart, the Terraform Labs-created blockchain continues to shine, not too long ago changing into the first decentralized stablecoin to achieve a $10B market cap in addition to launching a new automated market maker (AMM), Astroport.

For now, the LFG webpage nonetheless has a “{redacted}” part, so don’t be shocked if the approaching two bulletins, which may possible be unveiled over the weeks to come back, are extensions or supplementary items of the non-profit.

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Featured picture from medium.com/terra-money, Charts from TradingView.com
The author of this content material is just not related or affiliated with any of the events talked about on this article. This is just not monetary recommendation.

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