Avalanche Luna Rescues 1.9 Million Tokens Stuck in Debris: Price Moved! - Coin Bulletin

Avalanche Foundation has reached an agreement to buy back tokens sold to Luna Foundation Guard (LFG).

The collapse of Terra (LUNA) in 2022 deeply affected the cryptocurrency sector. While many projects perished in the wreckage, the substantial presence of major projects also became trapped.

According to the statement made by the Avalanche Foundation, an agreement has been reached to buy back all AVAX tokens sold to Luna Foundation Guard (LFG) before April 2022.

It was noted that approval is awaited from the bankruptcy court at the final stage. When the Foundation receives the refund of 1.9 million AVAX, it will continue to keep them in their wallets and use them for ecosystem developments when necessary.

This action ensures that it will not violate the constraints of the original agreement regarding the use of LFG tokens, and it guarantees the return of 1.97 million AVAX to the Foundation's assets while protecting the tokens from the complexity of a bankruptcy trustee liquidation. This further enhances the Foundation's ability to support the ongoing growth and development of the Avalanche ecosystem.