Luna Foundation Guard receives an additional $880 million from Terraform Labs.

The Luna Foundation Guard has received an additional 10 million LUNA tokens from Terraform Labs, after a $1.1 billion gift last month.

Terraform Labs (TFL), a Terra blockchain developer, has donated 10 million LUNA to the Luna Foundation Guard (LFG), which is valued at roughly $820 million at current pricing.
LFG is a Terra-affiliated foundation responsible for collateralizing Terra USD (UST), the network’s algorithmic stablecoin, so that it remains tied to the US dollar.

TFL’s most recent statement was made through Twitter on Thursday, although it did not specify where the monies will be used. On Thursday, however, Terra Finder transaction data showed that 7.8 million LUNA (approximately $630 million) was quickly moved out of LFG’s reserve wallet.

Many believe that some of the cash would be used to develop Terra’s digital gold cache, which is led by creator Do Kwon, who has a goal of amassing $10 billion worth of Bitcoin (BTC) to support UST’s reserves. Another LUNA piece might be burnt (in order to keep the UST/USD peg).

Given that both TFL and LFG bought $100 million worth of AVAX last week, more AVAX might be on the way.
Following Terra’s recent (and ongoing) Bitcoin purchasing binge, which included the acquisition of 2,500 BTC (approximately $100 million) just two days ago, LFG’s wallet has surpassed MicroStrategy and Tesla as the world’s third-largest holder of digital gold.

TFL gave $1.1 billion worth of LUNA to LFG just over a month ago so that it may be burnt to mint UST and increase its reserves.
At the time of writing, LFG’s overall reserve balance was $2.44 billion, with BTC accounting for around 70% of that total at $1.71 billion.
Despite recent optimistic events with Terra, the price of LUNA has dropped 7% in the previous 30 days, now sitting at $81.65.