LFG | Luna Foundation Guard @LFG_org Twitter profile | Pikagi

Pikagi

LFG | Luna Foundation Guard

@LFG_org

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The Luna Foundation Guard (LFG) is dedicated to economic sovereignty, security, and open-source software that helps build a truly decentralized economy.

Republic of Singapore

https://t.co/oMlS43KiDZ

Joined February 2022

Don't wanna be here? Send us removal request.

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@LFG_org

LFG | Luna Foundation Guard

1 year

1/ Today, LFG releases the technical audit report conducted by JS Held, an experienced third-party auditing firm, providing full transparency into the trading, blockchain records, and efforts of LFG and TFL to defend the price of TerraUSD ($UST) between May 8th & May 12th, 2022.

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@LFG_org

LFG | Luna Foundation Guard

2 years

1/ As of Saturday, May 7, 2022, the Luna Foundation Guard held a reserve consisting of the following assets: · 80,394 $BTC · 39,914 $BNB · 26,281,671 $USDT · 23,555,590 $USDC · 1,973,554 $AVAX · 697,344 $UST · 1,691,261 $LUNA

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@LFG_org

LFG | Luna Foundation Guard

2 years

10/ The Foundation is looking to use its remaining assets to compensate remaining users of $UST, smallest holders first. We are still debating through various distribution methods, updates to follow soon.

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@LFG_org

LFG | Luna Foundation Guard

2 years

8/ As of now, the Foundation’s remaining reserves consist of the following assets: · 313 $BTC · 39,914 $BNB · 1,973,554 $AVAX · 1,847,079,725 $UST · 222,713,007 $LUNA (of which 221,021,746 is currently staked with validators)

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@LFG_org

LFG | Luna Foundation Guard

2 years

1/ Over the past several days, market volatility across crypto assets has been significant. The market turmoil is also reflected by the past week's uncertain macro conditions across legacy asset classes.

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@LFG_org

LFG | Luna Foundation Guard

2 years

Hold my beer.

@Blockworks_

Blockworks

2 years

Biggest Disclosed #Bitcoin Treasuries: 1. MicroStrategy - 125,051 BTC 2. Tesla - 43,200 BTC 3. Terra - 30,727 BTC 4. Marathon Digital - 8,133 BTC 5. Square - 8,027 BTC Data: @BTCtreasuries

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@LFG_org

LFG | Luna Foundation Guard

2 years

1/ The LFG has acquired an additional 37,863 Bitcoins totaling ~$1.5 billion in OTC swaps with @GenesisTrading and 3AC.

@CNBC

CNBC

2 years

Luna Foundation Guard bolsters stablecoin reserve by raising $1.5 billion in bitcoin

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@LFG_org

LFG | Luna Foundation Guard

2 years

LFG Council has voted to burn another 4M luna to mint roughly 372M ust, which will be used to acquire exogenous collateral. Once this burn is completed, LFG’s non-luna reserves will roughly sit at a value of $2.2B, as well as 8M Luna remaining for future growth. LFG $Luna $ust

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@LFG_org

LFG | Luna Foundation Guard

2 years

A decentralized economy needs decentralized money. #LFG 🌕🟠

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@LFG_org

LFG | Luna Foundation Guard

2 years

Due to such a high demand for $ust , the curve pool is unbalanced again… LFG council members just voted on burning the 4.2m $luna left in LFG treasury. #LUNAtics

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@LFG_org

LFG | Luna Foundation Guard

2 years

Below is the new LFG $BTC wallet address: Last clip withdrawn by the LFG was ~37K BTC. Similar to the last deployment, it has been loaned to MMs. Very little of the recent clip has been spent but is currently being used to buy $UST. Updates coming.

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@LFG_org

LFG | Luna Foundation Guard

2 years

Welcoming $AVAX as the second major layer one crypto asset next to $BTC as part of the $UST Reserve. The inclusion of @avalancheavax 's native token marks the start of a diverse pool of layer one crypto assets helping support the $UST peg. It's only just the beginning frens.

@business

Bloomberg

2 years

After an ambitious promise to eventually buy $10 billion Bitcoin to back UST stablecoin, Terra is adding Avalanche to its UST reserve

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@LFG_org

LFG | Luna Foundation Guard

2 years

Due to the high demand in UST, the maximum amount is being minted by the protocol everyday. As a result, people have turned to the curve pool to get their UST, which has caused the curve pool to become unbalanced.

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@LFG_org

LFG | Luna Foundation Guard

2 years

There was never any deal for any "insiders" to exit. LFG funds were merely used squarely within its mandate to help protect UST peg

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@LFG_org

LFG | Luna Foundation Guard

2 years

9/ All assets will be returned to wallets tagged in shortly - the $LUNA previously staked is unbonding, and will be returned in 20 days.

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@LFG_org

LFG | Luna Foundation Guard

2 years

2/ Consistent with its non-profit mission & focus on the health of the Terra ecosystem, beginning on May 8, when the price of $UST began to drop substantially below one dollar, the Foundation began converting this reserve to $UST.

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@LFG_org

LFG | Luna Foundation Guard

2 years

4/ LFG: · Directly sold 26,281,671 $USDT & 23,555,590 $USDC for an aggregate 50,200,071 $UST · Transferred 52,189 $BTC to trade with a counterparty, net of an excess of 5,313 $BTC that they have returned, for an aggregate 1,515,689,462 $UST

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@LFG_org

LFG | Luna Foundation Guard

2 years

3/ The Foundation did so by directly executing on-chain swaps and transferring $BTC to a counterparty to enable them to enter trades with the Foundation in large size & on short notice.

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@LFG_org

LFG | Luna Foundation Guard

2 years

7/ On May 12, LFG swapped 883,525,674 $UST to 221,021,746 $LUNA & staked this across a range of validators to protect against a possible governance attack as the amount of $LUNA continued to increase. All transactions described above have now been completed.

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@LFG_org

LFG | Luna Foundation Guard

2 years

4/ As a result, the LFG Council has voted to execute the following: - Loan $750M worth of BTC to OTC trading firms to help protect the UST peg. - Loan 750M UST to accumulate BTC as market conditions normalize.

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@LFG_org

LFG | Luna Foundation Guard

2 years

6/ Sold 33,206 $BTC for an aggregate 1,164,018,521 $UST

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@LFG_org

LFG | Luna Foundation Guard

2 years

LFG will sell the $UST into the currently unbalanced curve pool. The proceeds of the sale will be used to purchase BTC to grow the current reserve. LFG!

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@LFG_org

LFG | Luna Foundation Guard

2 years

Here is the LFG reserves breakdown This is will be updated on a regular basis

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Looker Studio turns your data into informative dashboards and reports that are easy to read, easy to share, and fully customizable.

lookerstudio.google.com

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@LFG_org

LFG | Luna Foundation Guard

2 years

5a/ On May 10, when $UST had fallen to $0.75, pursuant to a Master Services Agreement dated January 10, 2022 through which TFL managed & executed all finance, administrative & operational functions & support as requested,

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@LFG_org

LFG | Luna Foundation Guard

2 years

5b/ TFL, on behalf of the Foundation, executed the following exchange trades in a last ditch effort to defend the peg:

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@LFG_org

LFG | Luna Foundation Guard

2 years

LFG will swap the $luna to $ust (swap=burn) and sell the $ust to the curve pool. The proceeds will go back to LFG reserves to purchase #btc . L F G 🚀🚀🚀

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@LFG_org

LFG | Luna Foundation Guard

2 years

At the LFG Governing Council’s most recent meeting, the council voted to swap 5M $Luna from the LFG treasury to $UST (around $450m) over the next 2 weeks.

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@LFG_org

LFG | Luna Foundation Guard

2 years

6/ Transfers from the public LFG wallets will be reflected in the LFG Reserve dashboard shortly.

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Looker Studio turns your data into informative dashboards and reports that are easy to read, easy to share, and fully customizable.

lookerstudio.google.com

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@LFG_org

LFG | Luna Foundation Guard

2 years

5/ The traders will trade the capital on both sides of the market to help accomplish both #1 and #2 , eventually maintaining parity of the LFG Reserve pool (denominated in BTC) as market conditions progressively stabilize.

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@LFG_org

LFG | Luna Foundation Guard

2 years

3/ Per the LFG’s mandate, the LFG will proactively defend the stability of the $UST peg & broader Terra economy, especially under volatility and the uncertainty of macro conditions in legacy markets.

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@LFG_org

LFG | Luna Foundation Guard

2 years

2/ Relative to Terra, $UST has experienced notable directional flow over the weekend, accompanied by similar volatility in both $LUNA and $BTC. While this flow has currently evened out, it is prudent to prepare for potential future volatility.

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@LFG_org

LFG | Luna Foundation Guard

2 years

@terra_money @stablekwon This guy

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@LFG_org

LFG | Luna Foundation Guard

2 years

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.

@LFG_org

LFG | Luna Foundation Guard

2 years

10/ The Foundation is looking to use its remaining assets to compensate remaining users of $UST, smallest holders first. We are still debating through various distribution methods, updates to follow soon.

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@LFG_org

LFG | Luna Foundation Guard

1 year

Quote from @stablekwon 👇

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@LFG_org

LFG | Luna Foundation Guard

1 year

2/ Read the official announcement and full report 👇

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LFG — Technical Audit Report

JS Held, an experienced third-party auditing firm, was hired to conduct a technical audit providing full transparency into the trading…

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@LFG_org

LFG | Luna Foundation Guard

1 year

6/ The audit concluded that: ➡️ LFG spent $2.8B (80,081 $BTC and 49.8M in stablecoins) to defend $UST’s peg, consistent with LFG’s tweets on May 16th, 2022 ➡️ Additionally, TFL went above and beyond and spent $613M of its own capital to defend the $UST peg

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@LFG_org

LFG | Luna Foundation Guard

2 years

2/ The OTC swaps included 1 billion $UST for $1 billion worth of $BTC with Genesis, and the LFG purchased an additional $500 million worth of BTC via 3AC. The acquired BTC brings the LFG’s total holdings to ~80,394 Bitcoins.

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@LFG_org

LFG | Luna Foundation Guard

2 years

The LFG treasury’s $BTC wallet is: bc1q9d4ywgfnd8h43da5tpcxcn6ajv590cg6d3tg6axemvljvt2k76zs50tv4q LFG hasn’t created any new wallets or moved $BTC or other tokens held by LFG since May 2022. @CoinDesk @iamsandali @cryptoquant_com

@CoinDesk

CoinDesk

2 years

South Korean authorities have reportedly requested crypto exchanges @okx and @kucoincom to freeze around $67 million in bitcoin tied to Terra co-founder Do Kwon. By @iamsandali

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@LFG_org

LFG | Luna Foundation Guard

2 years

More dry power to protect the $ust peg. 🙏 LFG

@stablekwon

Do Kwon 🌕

2 years

TFL has donated 12M additional $Luna to @LFG_org . The funds will be burned to mint $UST, and thereafter used to grow LFG's reserves. At current prices, this reflects another 1.2B incoming addition to the $UST reserves. 🌕

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@LFG_org

LFG | Luna Foundation Guard

2 years

3/ The deals push the LFG into one of the top 10 holders of BTC. The acquired BTC will be updated in the LFG dashboard below to reflect the additions accordingly.

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Looker Studio turns your data into informative dashboards and reports that are easy to read, easy to share, and fully customizable.

lookerstudio.google.com

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@LFG_org

LFG | Luna Foundation Guard

1 year

3/ LFG and TFL engaged with JS Held to bring transparency into the peg defense activity and LFG’s public accounting of assets in May, and in the process to answer the following allegations posed in social media:

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@LFG_org

LFG | Luna Foundation Guard

1 year

12/ While those reserves were unfortunately insufficient to defend against extreme market volatility and eventually led to $UST depegging, LFG lived up to its mandate fully to do everything within its resources to prevent that outcome.

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@LFG_org

LFG | Luna Foundation Guard

1 year

4/ Allegations: ➡️ Were any LFG funds misappropriated, embezzled or stolen? ➡️ Were any LFG funds used to benefit insiders? ➡️ Does LFG hold funds other than its publicly declared wallets? ➡️ Were any of LFG’s funds frozen?

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@LFG_org

LFG | Luna Foundation Guard

1 year

5/ To aid with the audit, JS Held was given access to on-chain wallets and trading accounts at CEXs used by the peg defense, and worked with primary raw data instead of relying solely on TFL’s representations. No compensation paid to JS Held was conditional on findings.

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@LFG_org

LFG | Luna Foundation Guard

1 year

7/ The report shows that all LFG funds were spent to defend $UST’s peg parity with the Dollar as declared, and that LFG’s remaining balances are the only funds remaining. Naturally, this dispels the following allegations:

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@LFG_org

LFG | Luna Foundation Guard

1 year

10/ LFG funds were frozen by law enforcement ➡️ all LFG funds are kept in self-hosted wallets, have not moved since the May 16th tweet, and have not been frozen

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@LFG_org

LFG | Luna Foundation Guard

1 year

9/ LFG funds were used to benefit insiders ➡️ all peg defense occurred in open markets, with no special preference for any party

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@LFG_org

LFG | Luna Foundation Guard

1 year

8/ Embezzlement or misuse of funds ➡️ all funds were used for peg defense

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@LFG_org

LFG | Luna Foundation Guard

2 years

4/ gm

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@LFG_org

LFG | Luna Foundation Guard

2 years

Interesting 👀

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Discuss, organize, and grow decentralized communities

commonwealth.im

@terra_money

Terra 🌍 Powered by LUNA 🌕

2 years

A new proposal from @jump_ is now posted on Agora outlining how the @LFG_org may deploy its $BTC reserve on-chain in a reserve model exogenous to the Terra protocol mechanics -- defending the $UST peg amid volatile, downward pressure. Check it out:

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@LFG_org

LFG | Luna Foundation Guard

1 year

11/ In addition to TFL using $0.6B of its proprietary capital for peg defense, it is important to note that LFG was 100% funded by donations from TFL to build exogenous reserves for Terra stablecoins.

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@LFG_org

LFG | Luna Foundation Guard

2 years

3/ Our goal remains to distribute LFG’s remaining assets to small $UST holders. We will not stop advocating for our ability to follow through on these initial plans, and those waiting will be the first to know of new developments.

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@LFG_org

LFG | Luna Foundation Guard

2 years

2/ 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.

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@LFG_org

LFG | Luna Foundation Guard

2 years

#LFG 🌕🟠

@terra_money

Terra 🌍 Powered by LUNA 🌕

2 years

1/ The long awaited [REDACTED] 💎3 is here! 📣 The Luna Foundation Guard (LFG) has closed a $1 billion private token sale to establish a decentralized $UST Forex Reserve denominated in $BTC! 📣 🧵👇

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@LFG_org

LFG | Luna Foundation Guard

2 years

@stablekwon

Do Kwon 🌕

2 years

A decentralized economy needs decentralized money. And decentralized money needs decentralized reserves. $BTC 🤝 $UST

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@LFG_org

LFG | Luna Foundation Guard

2 years

@pjdotust @Jma212121 @pskshksh @YassId07 @terra_money @jump_ LFG

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