Avalanche

Terra

TerraClassicUSD

A few days ago, the Luna foundation announced that they were buying +$200M BTC as part of the token collateral to support **$UST.X**. Now, they announced they're also buying **$AVAX.X**.
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The idea is to back Luna's stablecoin (**$UST.X**) with other assets aside from **$LUNA.X** and have a a more robust asset backing. The minting and burning of LUNA/UST will also change to involve other assets. 

For a quick overview on this ecosystem, check out this post: [https://commonstock.com/memo/697e6f47-16d4-4bfc-ab4b-e7596d72ff14](https://commonstock.com/memo/697e6f47-16d4-4bfc-ab4b-e7596d72ff14)
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[https://www.theblockcrypto.com/linked/141136/luna-foundation-guard-buys-100-million-in-avax-tokens-for-stablecoin-reserve](https://www.theblockcrypto.com/linked/141136/luna-foundation-guard-buys-100-million-in-avax-tokens-for-stablecoin-reserve)

$LUNA is one of my core blue chip holdings in my crypto portfolio. And love this move. 

Eric Messenger

LFG bought $231 million in bitcoin the day prior, but this appears to be the first time LFG is buying into another cryptocurrency.

https://www.theblockcrypto.com/linked/141136/luna-foundation-guard-buys-100-million-in-avax-tokens-for-stablecoin-reserve

Luna Foundation Guard buys $100 million in AVAX for UST’s reserve

LUNA and the making of a new reserve digital asset

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