Terraform Labs, which develops the Terra blockchain system, announced the non-profit organization Luna Foundation Guard (LFG) to promote the growth of the Terra ecosystem, according to a Twitter statement on January 20, 2021.
Second largest after Ethereum in terms of total locked assets (TVL) 2nd company Terra, which is approx. 4 billion dollars corresponding 50 million LUNA provided the financing of this project with his token.
About blockchain technology among the first goals of LFG raise awarenessto create educational programs, provide financial support for product development, and communicate to communities about ongoing projects. provide transparency is located.
Terraform Labs co-founder and CEO Do Kwon said in a press release. About the formation of LFG in his statement:
LFG is empowered to continuously support the stability of TerraUSD and the development of the Terra ecosystem, and offers a new avenue for growth and sustainability of decentralized money. A decentralized economy needs decentralized money, and LFG provides a link to achieve that goal.
said.
Approximately 10.8 billion supply TerraUSD is the fourth largest stablecoin and largest decentralized stablecoin by market cap. It is also widely used for decentralized finance (DeFi) activities such as lending and borrowing.