Nearly 90 million $LUNA will be Burned within Two Weeks to Mint a Large Amount of $UST

TokenInsight news, Terra co-founder Do Kwon's previous governance proposal on "burning 88.675 million $LUNA to mint at least 3 billion $UST" has been passed. Currently, 520,000 $LUNAs have been destroyed, and 16.5 million $UST has been minted. After that, the destruction and minting will be carried out according to the scheduled timetable. 88.675 million $LUNAs will be destroyed in the next two weeks. The $UST generated by the destruction will enter the community pool. Once the Terra ecological insurance agreement Ozone is launched, the community will decide how much funds to deploy to Ozone through a separate proposal. Do Kwon said that this transaction will generate a large amount of transaction fee income, which can increase the pledge income of $Luna by 10%.