La demande d'UST continue d'augmenter, Garde de la Fondation Luna à brûler 4.2 Million LUNA du Trésor


La Garde de la Fondation Luna (GLF), a nonprofit organization, has announced new measures to keep the supply of UST, the flagship stablecoin of the Terra ecosystem, liquid in secondary markets. The protocol has already reached the max issuance of UST per day, but demand is strong enough that the foundation will have to burn more LUNA to guarantee the supply of UST in these markets.


Garde de la Fondation Luna à brûler 4.2 Million LUNA for UST

La Garde de la Fondation Luna, an organization dedicated to supporting projects from the Terra ecosystem, has decided to act to increase the supply of UST in secondary markets. The most common way of obtaining UST, the dollar-pegged stablecoin of the Terra ecosystem, is to burn LUNA in the protocol treasury. toutefois, due to the increased demand for UST, the maximum quantity of the stablecoin is being issued each day, leaving a lot of investors without access to the currency.

These investors then have to go to secondary markets such as exchanges and decentralized finance applications to satisfy demand. As such, the Luna Foundation Guard council voted in favor of burning 4.2 million LUNA to UST and selling it to markets like Curve, whose stablecoin pools have been losing balance due to the high demand.

Anchor Attraction

This is the second time that the organization has decided to step in to restore the balance in Curve pools this month. Tout recemment, the foundation decided to act in the same way, announcing they had decided to burn 5 million LUNA to issue UST that was used to fix these imbalances.

The proceedings of that operation were used to buy bitcoin for the treasury, and the Luna Foundation Guard also decided to use funds from this latest operation to buy more bitcoin for the forex reserve used to support USTs price in moments of market stress.

A large part of Terras attraction for investors seems to be Ancre, a protocol that lets its users earn interest of almost 20% on the UST deposited. Au moment de la rédaction, Anchor has amassed almost 10 million UST in deposits. LUNE, the stabilizing partner token of the Terra protocol, has also benefited from this action. LUNA is now sitting at almost $100, with a rise of more than 50% in value in the last 30 jours, according to data from Coingecko.

What do you think about the movements of the LFG to balance USTs secondary markets? Dites-nous dans la section commentaires ci-dessous.