What’s left in Luna’s reserve wallet?

The Luna saga continues. In a Twitter thread, the crew behind the failed algorithmic stablecoin UST and the token LUNA shared exactly how a lot Bitcoin and crypto property that they had disposed of.

The Luna Basis Guard (LFG) additionally shared a promise to “compensate remaining customers of UST, smallest holders first,” with the remaining property.

In abstract, 80,081 Bitcoin (BTC) or 99.61% of the Bitcoin that LFG guarded, has exited the fund. The group confirmed a sale of “33,206 $BTC for an mixture 1,164,018,521 $UST” in a tweet. The remaining 47,188 BTC isn’t accounted for, whereas 313 BTC stays in reserve.

Apparently, LFG has not offered a single Binance Coin (BNB) or Avalanche (AVAX), holding circa 40,000 and a couple of,000,000 of every token, respectively.

The under graphic makes clear the remaining tokens within the LFG reserve:

The explanation behind the disposal and sale of cryptocurrency within the LFG reserve was to help the well being of the Terra ecosystem:

The counterparty that the group used has not been named. Cointelegraph consultants have compiled an evaluation on the Terra ecosystem implosion, questioning the “long-term viability of algorithmic stablecoins.” The present make-up of the LFG reserve is the next:

LFG Reserve Steadiness Breakdown. Supply: https://dashboard.lfg.org/

In the meantime, crypto fans with staked LUNA tokens ought to see LUNA returned to their wallets within the subsequent 20 days. Nonetheless, will probably be price much less: LUNA’s value has fallen over 99% since its highs, at the moment sitting at $0.0002.

Associated: LUNA meltdown sparks theories and told-you-sos from crypto group

What was as soon as a $50 billion ecosystem now has a complete reserve stability of $82 million, prompting in style crypto influencer Cobie to simply reply to the thread with: “Bruh.”