Terra Announces New Emergency Measures To Support LUNA And UST

-Terraform Labs has proposed three new emergency measures to save LUNA and UST stablecoin.
-The company has proposed to burn all UST in the community pool, burn the remaining 371 million UST cross-chain on Ethereum, and stake 240 million LUNA to protect from network governance attacks.
-Terraform Labs to increase UST burning and stake LUNA
-Terraform Labs has started implementing the emergency measures to save LUNA and re-peg the UST.
-The company aims to burn over 1 billion UST in the community pool and burn the remaining 371 million UST cross-chain on Ethereum under its Agora proposal.
-With the staking of 240 million LUNA, the company aims to strengthen Terras economy and prevent governance attacks.
-While Treasury Secretary Janet Yellen recently criticized risks in Terras UST stablecoin, the Securities and Exchange Commission (SEC) is rumored to have started an investigation against UST.