News/LFG Will Loan $750M $BTC to OTC Trading Firms to Protect the $UST Peg

LFG Will Loan $750M $BTC to OTC Trading Firms to Protect the $UST Peg

May 09,2022,14:13
Terra ecosystem nonprofit Luna Foundation Guard (LFG) tweeted that due to recent market volatility and to protect the stability of Terra's economic system, LFG plans to loan $750 million worth of $BTC to OTC trading firms to help protect the $UST peg. As the market returns to normalization, LFG will then loan $750 million $UST to accumulate $BTC. Eventually maintaining parity of the LFG Reserve pool (denominated in $BTC) as market conditions progressively stabilize.
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