Luna Foundation Guard Will Acquire $100 Million $AVAX to Increase Stablecoin Reserve

The Luna Foundation Guard (LFG) announced it will acquire $100M of $AVAX from the Avalanche Foundation to bolster its $UST Decentralized Forex Reserve, makeing $AVAX the first major crypto-asset besides $BTC to be added to the $UST Reserve and strategically align these two powerful ecosystems. At the same time, several more Terra-native DeFi protocols are also under consideration for a cross-chain expansion to Avalanche. In addition, Terra and Avalanche will be collaborating on a new gaming subnet.