Terra Adds $200 Million in $AVAX to Bolster UST Stablecoin Reserves

Terraform Labs, the company responsible for the development of Terra, and the Luna foundation Guard (LFG), have purchased a combined $200 million worth of Avalanche ($AVAX) to bolster the reserves of Terra’s UST stablecoin. According to an announcement from Terraform Labs, it swapped $100 million worth of its native token LUNA for AVAX to “strategically […]