Our Thoughts on Luna Foundation Guard (LFG) Buying BTC and AVAX to Back UST
In this clip from the LeoFinance AMA, we talk about Terra (Luna) and our thoughts on Do Kwon's move as head of the LFG - Luna Foundation Guard - to purchase BTC and now AVAX (Avalanche) and hold them as treasury reserve assets to back to UST stablecoin.
UST works as an algorithmic stablecoin on the Terra blockchain. LUNA is burned to mint UST and UST is burned to mint LUNA. The synergistic relationship creates arbitrage which keeps the price of UST at or wrapped around $1.
This is an interesting model and Terra (LUNA) skyrocketed to become a top 10 coin in just the last 12 months.
Is this market cap justified? Is LUNA a good investment? Does UST have major blowup risk? Why is Do Kwon buying BTC and AVAX? We cover these questions and more in this clip.
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Crypto Twitter has gone nuts and divided into two groups - one praising this move and others hating on it. Like Microstrategy, Luna Foundation Guard is continuously buying dip. Not sure how it will help their algorithmic stablecoin UST.
Obviously it's nice to have lots of Bitcoins. Leo Foundation Guard when? 🙈
#LFG
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Yeah it's kind of interesting to see the tribalism run rampant. I almost think that LFG bought some AVAX just to shut up the non-BTC-maxis so they could say they also held an altcoin lol
Regardless, we're on the same page: like MSTR, they're buying up massive quantities of BTC. To me, that's just a + for the entire marketplace.
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If there is one thing I'd say from watching reactions is this move is polarizing, some love it some hate it.
I don't really have an opinion, as I don't have enough background knowledge, but it will be interesting to watch!
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Everything in crypto seems to be polarizing. There are a lot of tribalists out here lol. I've also seen your recent tweets about BTC Maxis - spot on.
It will be interesting to watch. Especially since usage of UST is as contingent on the crypto markets going up as Bitcoin's price is.
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Actually you are right, everything is polarizing, I guess people love to fight.
haha.
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It must be human nature lol
Or crypto people are just soft and easily pissed off 😂
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Psychopaths really! lol
You have covered almost all the questions in our mind in this AMA session. Terra (LUNA) is something new to me and I had zero knowledge on it. Thanks for this helpful vlog in this LeoFinance platform. Worth to share vlog cum blog, keep sharing more knowledge about cryptos. Stay blessed!
Thank you!
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I believe everyone is entitled to his own opinion on this whether Luna is a good investment or not but investing in stuffs like this doesn't mean we should think the negative part instead we always hope for a profit to occur for every investment or stake been done but only time will tell if it definitely going in the right direction or a nice investment because I don't really have much idea about it but wish for a progress as well.
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I think it’s interesting at the least. It being #7 in market cap makes it a bit less attractive to me
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I think it's a good one from LFG adding those two great assets to back up their stable coin. If UST keep holding the $1 dollar mark, it will continue to keep Luna relevant. Overall Luna remains a good investment until they prove otherwise
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The leader of terra Luna is buying BTC. To hold them as treasury assets. Bitcoin is now bought more by institution than before. This works parallel to each other now. If BTC goes up, so does Luna. This is becoming so interesting !
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It’s a very virtuous cycle. Crypto enthusiasts and protocols getting rich and then throwing their gains right back into crypto
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Getting to know about Luna of recent,have not really take my time to see how it goes too,but nice AMA session, which I think it should help my understanding about it
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LUNA is interesting at the very least to be a thought experiment. Buying it at these levels is a little hard for me but I’d be a buyer if it dips lower
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Seem like a smart move from the Luna Foundation Guard stacking up BTC and avax to their treasury. With companies like Microstrategy also doing same. BTC has proven to be a great store of value overtime. The time of dips however will prove if UST would hold up at it's pegged value
Bitcoin is gonna do so well in the long-term. We’ve got institutions retail and now protocols buying Bitcoin in a major way!
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True to that. That's a good indication. Little LFG towed that path by adding more security to it stable coin
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I believe this is the same strategy you intend to apply to pHBD and pHBD-USDC. Since we now have the 20% APY interest on HBD, we have a lead if we implement the Polygon HBD.
Thanks for sharing.
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Yes exactly in some ways. With pHBD, we’ll be driving massive value to the PolyCub treasury through HBD. This will be a huge source of revenue for the treasury which holds a basket of cryptos and Stablecoins. Not unlike LFG
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This is quite amazing and I want more innovations to come up because I'm a believer of the LeoFinance community. I truly love what's happening in the community. Keep the good work coming.
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We're always looking at projects like Terra (LUNA) for inspiration on how to stay on the bleeding edge of the industry! Thank you 🦁
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The company's revenue is increasing and it helps today's economy develop rapidly. aa route planner
With the strategies the Lions have on ground we can also move as fast as Terra within the next 6 months.
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1000%. Terra is a good look at what our LeoFinance Web3 ecosystem can become in the long run. I truly believe that HBD has killer potential if it has supply and is marketed properly. We’ll focus on making this a reality!
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