Blockchain Biz Sends $886M To Stablecoin Foundation

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By Elise Hansen (April 14, 2022, 5:32 PM EDT) — Blockchain firm Terraform Labs stated on Thursday that it “gifted” about $886 million price of its signature cryptocurrency to the Luna Basis Guard, the nonprofit that oversees a Terraform stablecoin.

Terraform Labs is the corporate behind the Terra blockchain protocol, which helps applied sciences similar to sensible contracts and decentralized finance initiatives. Specifically, Terra can be utilized to create digital property referred to as stablecoins to trace the value of any fiat forex, in keeping with its web site.

Terra boasts a signature “reserve asset,” a digital asset known as luna, in addition to a stablecoin referred to as Terra or UST, in keeping with its web site….

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