TerraUSD’s Dollar Depeg Halts Distribution of Remaining the Assets
Join Our Telegram channel to stay up to date on breaking news coverage Luna Foundation Guard (LFG), a fund created specifically for the Terra network, remarked in a follow-up update that the distribution of assets might not be feasible at the moment, nor could a timeline be established for the same. On the 7th of October, LFG cited on Twitter that the “distribution is not possible due to the ongoing and threatened litigation ” as the reason behind the abrupt halt. Terra aims to distribute the remaining assets to the users – the smallest holders first – impacted in the UST depeg, as stated by the LFG. The fund&rsquo ;s reserve balance reached $4 billion over time before the market downturn in the month of May. However, it has dropped catastrophically to around $105 million at the time of writing. The fund further added in the Tweet that “they will continue to follow through their initial plans, and the people waiting will be first to know about any new updates and developm