1f315 nDcfUY

Luna Foundation Guard close to announcing recovery plan for TerraLuna, UST

Do Kwon has announced a recovery plan in the works for UST and, therefore, the Terra ecosystem. UST has lost its peg from the dollar, and its native token LUNA is down is down 90%, currently trading at a 12-month low of $4.69.

Close to announcing a recovery plan for $UST. Hang tight.
— Do Kwon (@stablekwon) May 10, 2022

The Terraform Labs CEO also apologized for being “quiet,” citing a need for “razor focus to deliver, thanks everyone for the support.”
Since the tweet, UST dropped to 22 cents on the dollar vs. USDT on Binance. The recovery plan was announced when UST had “only” dropped to a low of $0.64. He reiterated the program several hours later, stating that they were “getting close” and asked the community to “stay strong.”

Getting close … stay strong, lunatics
— Do Kwon (@stablekwon) May 10, 2022

Amidst the wait for a recovery plan, many users liquidated positions on Anchor Protocol, which led to LUNA losing roughly 90% of its value over the past

Czytaj więcej

We współpracy z: https://cryptoslate.com/luna-foundation-guard-close-to-announcing-recovery-plan-for-terraluna-ust/

Total
0
Shares
Dodaj komentarz

Podobne Wpisy