1 Lunc for 10 held CONSOLIDATION - Burn 90% INSTANTLY

Governance & Proposals
44

I don’t get it what it is so hard to understand. I’m sorry, but you people cannot even calculate properly.
How are you expecting to reach 1$ with 6000 billion supply? That would mean 6000 billion Market Cap on this coin only. The whole market at the moment is barely 1000 billion. Or you will wait 30 years to burn.

Let me visualize it for you so you can understand it:

  1. 6000 billion supply x $1 = $6000 billion Market Cap on Lunc ONLY → impossible. Absolute market record so far was 3000 billion.
  2. 6000 billion supply x $0.1 (10 cents) = $600 billion Market Cap on Lunc ONLY → impossible again. BitCoin is 364 billions. What you expect to surpass BitCoin just by some hype in Twitter? Come on, be realistic!
  3. 6000 billion supply x $0.01 (1 cent) = $60 billion Market Cap on Lunc ONLY → impossible again. That would mean the coin needs to become on 4th place of ALL coins by Market Cap.

And there are people who are telling that the volume or circulating supply is not a problem… huh? It is the entire problem, look at the numbers and do the math alone if you do not believe it.

And btw, yes, probably without consolidation 1 to 10, 1 to 9 or whatever it won’t work unless you want to wait 30 years to burn that ridiculous supply.

2 Likes
45

Excellent :ok_hand:.

So question is :

How would 10:1 reverse split accelerate one’s goal of 100 times gains as compared to NO 10:1 reverse split.

What are the chances that it might be a futile exercise with respect to price movement/time?

Is there a presedence or example.

Thank you
:two_hearts: Love your proposal

1 Like
46

I was planning to make a 60sec animation video on your 10:1 concept.
I think it will be much easier to comprehend for this way.

Would you grant me permission?

1 Like
47

Another question is:

If a developer had to pay 100 Lunc, for developing , pre 10:1 consolidation period, how much he have to pay post consolidation period ?
Same 100 Lunc or 10 Lunc?

1 Like
48

Correct it would be the 100 LUNC pre and 10 LUNC post consolidation / reverse split

Your welcome to do an animation and your welcome to message me direct to view before release and feedback : ))

Its definitely looking like I will need to do a visual presentation, or a you tube video to get the concept out for people to understand how it works and why it works, how no one is disadvantaged and no one gains and advantage over another holder, how and why this could also fully fund the blockchain, dev pools, oracle rewards, collateralise the repeg, fast track all dev works, marketing, onboarding utiliities etc etc.

Faster, Cleaner, Simple & has FAR LESS RISK.

2 Likes
49

How would a 10:1 reverse split be implemented? Are we talking about another fork and airdrop?

In case you haven’t been keeping score, forks don’t appear to work. They seem to only further divide and dilute assets. Am i missing something here?

1 Like
50

Unless the dev coders can find an alternate method, a halt on the blockchain would need to be done for a snapshot to be done and then an airdrop can be done.

This does not divide or dilute assets, it reduces the coin total supply, the market cap remains the same so your investment value at the halt would be exactly the same after the consolidation split.

Whats important to understand, is that you and everyone else who is a LUNC holder is not disadvantaged and no one gains an advantage over another LUNC holder.

Provides a giant leap forward in years.

2 Likes
51

Excellent ! Thanks.

1 Like
52

you keep 1 and 9 will go to the burning direction

1 Like
53

I cant believe how 0.2% burn tax got approved. Some users were spamming with multiple accounts to get it pushed ahead.

1 Like
54
  1. Wrong topic
  2. It was mostly validators decision.
  3. I’m not happy too.
  4. Finally. You showed us that you are just a troll and you have no idea how the voting system works.
    To vote you must have your LUNC staked with the moniker. The voting power is directly proportional to the amount of staked LUNC. You can have 1M wallets/accounts or whatever You call it, it has no effect on voting.
55

So in essence, we halt the chain, snapshot wallets, and build a new chain with the SAME market cap, but with 1/10 the circulating supply, and 1/10 the maximum supply. Reboot the new chain, then drop the new LUNAC coins to the snapshot wallets.

This is excellent: It seems to me that we will end up with a healthy chain having built in scarcity, and if we can continue a low resource burn protocol, we will also have a deflationary chain!

This chain will have inherent value. This chain should attract investment.

2 Likes
56

If it is done right, it can also fully resource the blockchain. This can fund the repeg to an AFT without downside risk and enable capital control systems to be implemented, to prevent another death spiral.

When fully resourced, this will turbo charge the LUNC BlockChain development and attract new and existing utilities with onboarding processes etc.

1 Like
57

Beauty.

58

“you showed us” showed who?, its only you have a problem, a serious one? you are yourself a troll. Look at your comments.

59

As @jm_1919 and @premiero said, this is a reverse split. It will not burn anything, just redenominate Lunc to a unitary price with one less zero. Everything else will remain the same. No value will be created.

As there will be no value creation, the expected result is that nothing will change. Maybe people get excited at the news of the consolidation, but since it is an artificial decrease in supply, and a reverse split has a negative connotation in the traditional market, the price could crash…

The fundamental idea of burning Lunc is to increase the bags of everyone holding it. Yeah, the consolidation will “burn” 90% of Lunc. But our wallets will also get 90% smaller.

Consolidation will not increase our bags. And the idea of the burn mechanism is to increase the price of Lunc without changing the number of coins that we hold. The purpose of supply reduction via burning is to increase our bags.

And we all know that 10B supply is impossible with the current burn rate. We also know that the $1 price tag is also impossible with our current situation. But this proposal simply does not add value to the chain, just moves the comma to the right

1 Like
60

If you think the Market will crash with a supply of 690B instead of 6.9T then what is the point in reducing supply in the first place ?

Consolidation solves many issues in 1 major action that the community as a whole would equally be affected and be equally benefiting as no one is disadvantaged and no one gains an advantage. Its simply a much fairer outcome all round.

There most certainly is value creation.
Your view point needs to extend past just the total supply reduction.

Reduction of supply is the first instance.
Creates a new supply demand tension due to less coins in total and what will be in circulation.
Low Market Cap today under $2B with substantially less supply, will attract more utilities.
Will also attract new investment into LUNC, much faster.

Most importantly, this would also be able to fully resource the LUNC blockchain instantly at the same time and turbo charge the hiring of additional talent to balance the workload and drive hard and fast implementing all the relevant safety mechanisms and protocols to protect the chain.

This can provide the collateral needed to repeg to an AFT (USTN) with a new CCS in place. (i did like Alexs concept of a tiered control system, but did not like the idea of taking from the oracle rewards pool as had risks involved) This would eliminate that risk.

Portion of the burned supply can be used to compensate devs to date and to fund the ongoing dev pools, oracle rewards, marketing pool, networking and onboarding of utilities, audits, security and legals etc.

This can provide the funding to also develop and implement a Capital Control System (as mentioned by Alex) to prevent another death spiral.

This will also attract a lot more people to be staking their LUNC. (I also like demonmonkey777 on twitter, his idea of vaults for longer term staking of 1 year 2 year 3 year 4 years.)

Currently only 10% stake, this would likely jump to 30-50%. This would provide greater stability to the blockchain and will again reduce the CIRCULATING SUPPLY. (Not to be confused with the Total Supply)

The blockchain in essence would get fast tracked to assist the return of existing utilities and onboard new utilities. Utilities is where the real value is and having the LUNC blockchain fully resourced makes that happen much faster.

At the end of the day, no one is disadvantaged and no one gains an advantage.
It affects all holders exactly the same from the smallest of holders right through to the largest whales.

Not going to go into what the volumes would look like, what the media attention would look like, what the fomo would look like but its fair to say it is unlikely we will be sitting here with a $2B Market Cap ; )

2 Likes
61

@DadRulesOK I don’t agree with what you are saying:

Yes, the supply will be reduced. But I don’t think this will create any “demand tension”, and this is my main argument: why would this create demand tension? The accessibility to obtain/trade Lunc is still the same, and the functionality of the chain is still the same. So, it is unreasonable to assume that a consolidation will attract investors because, again, no value is being created at this point.

And sure, I cannot get past the supply reduction part because this is what your proposal aims to achieve. Moving a comma to the right in the price denomination simply does not create value. There will be probably a market reaction, but since the chain is not getting any more useful, fast, or secure, I don’t think this, by itself, will attract more money/users.

My only hope would be the FOMO that this proposal could create, because, apart from that, no smart investor would come just because of a reverse split…

4 Likes
62

DadRulesOK…from all the reverse splits I have ever seen, and I have been involved in 3 and seen many many more as a penny stock trader, this will destroy any value in Lunc. I will tell you exactly what will happen. After the split, people will empty their positions and the price will return to the pre-reverse split price. This will cause people to lose most of their value and people will continue to sell and move on to something else. It’s the potential of the “moon”that’s keeping this alive. Once the hope is gone, no one will want to come back in. Maybe after 2-3 years, but it will leave a stain on the Lunc blockchain and the community. Do your due diligence with respect to companies performing reverse splits. It’s a 100% guarantee that this will happen.

4 Likes
63

By doing that you are not repairing the blockchain. you are simply creating a new one, which will not have the same marketcap or price.