Terra shares more details of their plan to rescue UST, which will include burning $1.4B UST and staking 240M LUNA. Will it be enough? (Reporting via JoeNakamoto)
by user The Intern on the Terra Research forum. In total, the burn should take the total amount of UST burned to 1.4 billion UST, or “11% of the outstanding UST liabilities,” the site details.
In summary, the team hopes that expanding the base pool for the coin and burning more should save UST. Point three, concerning the staking of 240 million LUNA, will reportedly strengthen the network governance of the TERRA ecosystem. However, for some observers, staking 240 million LUNA, or roughly equivalent to $200 million dollars, is not enough to save the project.
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