TechFlow News, according to The Block, three sources reported that the Terra ecosystem nonprofit Luna Foundation Guard (LFG) is seeking over $1 billion in funding from institutions to support UST, and the deal is currently under negotiation.
Larry, The Block's Research Director, tweeted that the financing details currently known are: LFG is seeking between $1 billion to $1.5 billion in funding. Jump Trading, Celsius, and Jane Street have already committed approximately $700 million, while Alameda Research has not yet agreed. The terms offered by LFG state that participating institutions will be able to purchase spot LUNA at a 50% discount, with a one-year lock-up period followed by monthly linear unlocking after one year. Larry emphasized that this financing has not yet been confirmed and could still change.
Following this report, Terra founder Do Kwon tweeted earlier today that it is about to be finalized.
