Terra Luna’s ‘‘ lunatics ‘have actually had their sights set on a multi-part statement that is set to unveil, and today the first piece of the puzzle has actually come to life.
Today, Terra revealed the formation of a new non-profit company, the Luna Foundation Guard (LFG), that is “dedicated to supporting the improvement of open-source innovation, helping with the development of the Terra ecosystem, and improving the sustainability and stability of Terra’s algorithmic stablecoins.”
Terra Says “LFG”.
Terra has launched a dedicated landing page, lfg.org, outlining the team, mission, and funding & & grants around LFG. The new non-profit will highlight a number of significant pillars that they see as core in advancing the ecosystem.
Founder and CEO of Terraform Labs, Do Kwon, also released a recent tweet thread highlighting the significant pillars behind LFG:
1 out of 3 https://t.co/PcxKtGhpeT is born: – a non-profit– structure – governed by leading home builders in @terra_money eco – committed to$ UST stability and adoption – decentralizing core teams behind @terra_money https://t.co/p6PkN4cWE0
—– Do Kwon
( @stablekwon) January 20, 2022 In all, the Foundation will serve as a mechanism to continue driving engagement and adoption of Terraform Lab’s growing stablecoin, UST. Adoption of UST has continued to grow as the token, seen broadly as one of the most decentralized yet traditional stablecoin options presently offered, approaches an $11B market cap.
The previously mentioned Do Kwon will lead the charge for the Luna Foundation Guard, together with establishing member Nicholas Platias and numerous governing council members. The team will release foundation grants, beginning at the end of the month, to blockchain tasks in the ecosystem that address open-source development, research study and education, and community development within the Terra network.
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Luna, the tradable token that arguably functions as the ‘foundation’ of the Terra ecosystem, has actually carried out exceptionally well over the previous year.|Source: LUNA-USD on TradingView.com.
Among Three… … What’s To Come?
As pointed out previously, this statement is slated to be the very first of three, from what begun as a teaser picture of the cover picture utilized here. That image led numerous ‘‘ lunatics’ to hypothesize on what might be coming – – the two intersecting circles led many to believe that an inbound MasterCard partnership could be coming, and numerous Terra enthusiasts thought that some sort of Bitcoin-related assistance could be brought to life also.
Speculation aside, the Terraform Labs-created blockchain continues to shine, recently becoming the very first decentralized stablecoin to attain a $10B market cap in addition to introducing a new automated market maker (AMM), Astroport.
In the meantime, the LFG webpage still has a” redacted” area, so do not be surprised if the coming 2 announcements, which could likely be revealed over the weeks to come, are extensions or supplementary pieces of the non-profit.
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Included image from medium.com/terra-money, Charts from TradingView.com The writer of this content is not associated or connected with any of the celebrations mentioned in this post. This is not monetary suggestions.