A high-ranking member of the Luna Foundation Guard (LFG) said on Monday that the foundation’s reserves are almost ready to be deployed, barring a few technicalities.
The reserves will be largely targeted towards helping small wallets, and supporting builders and stakers on Terra.
The statements were made by Remi Tetot- a member of the LFG’s Governing Council. Tetot said he was “breaking rank” in the LFG to release the information. He also decried the lack of regular communication by key Terra developers, in wake of the recent crash.
Tetot said the LFG is now waiting for confirmation from exchanges on the timing and the transactions needed to release the reserves, which are estimated to be around $1.5 billion.
He also said an official statement will be issued soon, but did not specify an exact date.
