Terra to Launch Proposal to Burn $90 Million in $Luna to Mint at Least $3 Billion in $UST

TokenInsight news, Terra co-founder Do Kwon tweeted that he will launch a proposal next week to destroy $90 million $LUNA in the community pool to mint $UST, a USD stable coin for Terra's Eco insurance protocol Ozone, which would mean reducing the total amount of $LUNA by 90 million and increasing it by 3 to 4 billion $UST. According to TokenInsight's official website, $LUNA currently has over 400 million coins in circulation and a market cap of nearly $17 billion, placing it 12th on the market cap list.
Source

Stablecoins

In This Article

Related News
Stablecoins Market Cap Expands Signifying Enhanced On-Chain Liquidity Stablecoins Market Cap Expands Signifying Enhanced On-Chain Liquidity
U.S. Treasury Official Warns Against Non-U.S. Stablecoin Issuers U.S. Treasury Official Warns Against Non-U.S. Stablecoin Issuers
Prisma Finance Launched $PRISMA Token Prisma Finance Launched $PRISMA Token
Circle to End Support for Individual Mint Account Circle to End Support for Individual Mint Account
Frax Partnered With RWA Lending Protocol TProtocol, Launched Curve Liquidity Mining Frax Partnered With RWA Lending Protocol TProtocol, Launched Curve Liquidity Mining
Latest News More More
Worldcoin Considers Raise New Capital Through Sale of $WLD Token at Deep Discount
Starknet Announced 1.8 Billion $STRK Token Airdrop Plan
Binance Needs to Grant U.S. Authorities Access to All Documents and Records Under New Compliance Obligation
2 Days Ago Babylon Protocol Raised $18M, co-led by Polychain Capital and Hack VC, and to Introduce $BTC Staking
2 Days Ago LayerZero Confirms Token Launch in First Half of 2024
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open