Luna Foundation Guard greenlights another 4 million LUNA

The Luna Foundation Guard (LFG) announced on Tuesday that the organization’s council has voted to burn an additional 4 million of Terra’s native token LUNA.

According to the announcement, the burn will allow the LFG to mint around 372 million in UST. The so-called UST functions as an algorithmic stablecoin pegged to the price of the US dollar.