With all its surviving reserves, LFG plans to repay holders

The Luna Foundation Guard has just released a thread outlining how exactly it will install its funds for the duration of the UST de-pegging phase. This approach that the wait should eventually be over and those may get company solutions to their questions.

As of May 7, the Luna Foundation Guard’s reserves consisted of the following belongings:

However, on May 8, whilst the rate of UST started deviating from the $1 peg, the Foundation commenced converting its reserve into UST. It did so through directly executing on-chain swaps and shifting Bitcoin to a counterparty to enable them to enter into huge-scale, brief-be aware trades with it.

On May 10, UST dipped into the $0.7 variety.

According to the thread, the Foundation is planning to apply its ultimate property to compensate customers of UST and could prioritize the smallest HODLers first. The crew appears to be debating upon the distribution methods and is planning on updating HODLers as soon as a decision is made.

The Foundation also revealed in a Tweet on May sixteen that “all assets might be lower back to wallets tagged in dashboard.Ifg.Org rapidly – the Luna previously staked is unbonding, and can be again in 20 days.”

Various people inside the crypto area have given their own tips to the Foundation, such as Ethereum’s founder Vitalik Buterin, with regards to how Terra ought to relieve its small buyers by using funds from its reserves.

Since the Foundations appear to be taking this recommendation, it approaches UST HODLers can sooner or later take a deep breath in weeks.