Therefore, in this article, you will discover the role of the Luna Foundation Guard and how it can influence the future of Terra.
What is the Luna Foundation Guard (LFG)?
The Luna Foundation Guard (LFG) is a non-profit organization established in Singapore. This open-source platform supports the development and promotion of a truly decentralized economy that will get greater economic sovereignty, security, sustainability.
Therefore, the primary goal of LFG is to ensure the UST peg’s stable capacity while promoting the expansion of the Terra ecosystem.
1/
1 out of 3 ?? https://t.co/PcxKtGhpeT is born:
– a non-profit foundation
– governed by top builders in @terra_money eco
– dedicated to $UST stability and adoption
– decentralizing core teams behind @terra_money https://t.co/p6PkN4cWE0
— Do Kwon ?? (@stablekwon) January 20, 2022
The LFG will also award grants to builders, researchers, community members, and anybody else working on innovative ideas in the Terra economy. It is divided into three categories:
- Open-Source Technology Development
- Research & Education
- Community Growth
To help bootstrap its stable reserves and grants system, Terra Foundation Labs (TFL) will provide a donation of 50 million $LUNA tokens to the LFG.
More About Terra
Terra is currently one of the market’s hottest projects, thus many investors are interested in investing in it. This blockchain, founded by Do Kwon and Daniel Shin, has been running for more than three years.
It is a challenging task to implement the vision of a decentralized economy based on truly decentralized money. As a result, Terra is effectively managing it with TerraUSD (UST). Also, Terra’s ecosystem has developed different decentralized applications in Real Estate, betting, E-commerce, insurance, among others.
On the other hand, Terra is focusing on bootstrapping demand, via a variety of paths, other than transitory liquidity mining incentives. Because of that, Terra’s ecosystem has exploded into a vibrant economy with:
- cutting-edge financial apps
- payments
- savings primitives
- NFTs, among others.
The following picture is a summary of the variety of protocols inside Terra:
Source: Coin98
Finally, the Terra community’s enterprise has generated a wave of groups and projects dedicated to achieving Terra’s ambitious goals. Together, they have pushed Terra to the second-largest smart contracts chain in terms of TVL.
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