Luna Foundation Guard Launches to Support UST Peg as Stablecoin Blows Past $11B Market Cap – Bitcoin News

Luna Foundation Guard Launches to Support UST Peg as Stablecoin Blows Past $11B Market Cap

The Luna Foundation Guard, a new decentralized organization developed to support the Luna ecosystem, has been launched last week in Singapore. The institution will offer funding in the form of grants to support initiatives built on top of the Luna network. One of its biggest functions will be to establish a “forex reserve” that will aid UST, the companion stablecoin of the Luna ecosystem, to maintain its peg.

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