News/Terra to Launch Proposal to Burn $90 Million in $Luna to Mint at Least $3 Billion in $UST

Terra to Launch Proposal to Burn $90 Million in $Luna to Mint at Least $3 Billion in $UST

Oct 24,2021,17:45
TokenInsight news, Terra co-founder Do Kwon tweeted that he will launch a proposal next week to destroy $90 million $LUNA in the community pool to mint $UST, a USD stable coin for Terra's Eco insurance protocol Ozone, which would mean reducing the total amount of $LUNA by 90 million and increasing it by 3 to 4 billion $UST. According to TokenInsight's official website, $LUNA currently has over 400 million coins in circulation and a market cap of nearly $17 billion, placing it 12th on the market cap list.
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