
The Luna Foundation Guard (LFG) announced it will acquire $100M of $AVAX from the Avalanche Foundation to bolster its $UST Decentralized Forex Reserve. At the same time, TFL, the company supporting development of the Terra blockchain, has executed a $100 million LUNA to AVAX token swap to "strategically align ecosystem incentives". 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.