The Luna Foundation Guard (LFG) has committed to pursuing measures to compensate for users’ losses since the breakdown of the algorithmic stablecoin TerraUSD, which spectacularly lost balance with the U.S. dollar earlier this year. LFG Unable To Disperse Remaining Funds The Luna Foundation Guard stated its inability to disperse its remaining funds to UST users, commencing with the smallest hodlers, in a post on Twitter on October 7 due to a continuing and threatening lawsuit. According to documents, the LFG’s total reserve balance is currently slightly over $105 million, down from its previous value of over $60 billion following the collapse of TerraUSD. Before the market decline in May, the fund’s reserves included more than $4 billion in assets; at the time of publication, this sum had decreased to about $105 million. 1/ Since $UST’s depeg in May, there has been understandable interest in LFG’s assets and how they will be distributed. As mentioned, our goal is to distribute LFG’s remaining assets to those impacted by the depeg, smallest holders first. https://t.co/VOTQDkQZ90 — LFG | Luna Foundation Guard (@LFG_org) October 7, 2022 No Specific Deadline For Settlement According to the fund, distribution is not yet feasible. The company stated that there is no specific deadline for settlement while these issues are outstanding. The documents noted that the total reserve balance of the Luna Foundation Guard is currently slightly...
