Luna Foundation Guards (LFG) also shared Promises to “compensate the remaining users of UST, first of all the smallest holders” with the remaining assets.
In total, 80,081 Bitcoin (Bitcoin) or 99.61% of the bitcoins guarded by LFG have withdrawn from the fund.group comfirmed Sold “$33,206 BTC for a total of $1,164,018,521 UST” in one tweet. The remaining 47,188 BTC was not counted, while 313 BTC remained.
The chart below clearly shows the remaining tokens in the LFG reserve:
The reason for disposing and selling cryptocurrencies in the LFG reserve is to support the health of the Terra ecosystem:
2/ Aligned with its non-profit mission and focused on the health of the Terra ecosystem, starting May 8, when $UST began to drop significantly below $1, and the foundation began to convert this reserve into $UST.
— LFG | Luna Foundation Guard (@LFG_org) May 16, 2022
The counterparty used by the group has not been named. Cointelegraph experts have compiled a Terra Ecosystem Implosion Analysis, questioning the “long-term viability of algorithmic stablecoins.” The current composition of landfill gas reserves is as follows:
Simultaneously, Staking Crypto Enthusiasts LUNA tokens should see LUNA back in their wallets within the next 20 days. However, its value will decrease: the price of LUNA has fallen by more than 99% since its high and is currently at $0.0002.
The once $50 billion ecosystem now has a total reserve balance of $82 million, prompting popular crypto influencer Cobie simply Reply to the post with “Bruh”.