Terra Luna Foundation Guard Freezes $100M Compensation Treasury
Source: AdobeStock / Mahoa Creative The Luna Foundation Guard (LFG), a non-profit organization that supports the Terra ecosystem, has halted the planned distribution of $100 million from its reserve among small UST holders citing litigation concerns. The organization announced the news in a Friday tweet, noting that they are freezing the distribution of LFG's assets due to the threat of litigation. The LFG said they currently don't have a specific date for when they might resume the distribution again. “Our goal is to distribute LFG’s remaining assets to those impacted by the depeg, smallest holders first,” LFG tweeted. “Unfortunately, due to ongoing and threatened litigation , distribution is not possible at this time. While these matters are outstanding, there can be no timeline established for resolution.” The foundation claimed that they are still determined to distribute LFG’s remaining assets among UST holders, starting wit...