just wanted to write down a few thoughts:
- stablecoin
- I think it’s very important to have a purpose and ours was and still is to provide a decentralized stablecoin, because that’s what the space needs
- that’s our mission, I don’t think we can cut this part off without losing ourselves
- a trustless solution is the path, when it’s technically not possible by now, it should be our aim to solve it
- no compromises, no shortcuts
- collateralized by 100% Bitcoin
- whenever Bitcoin exceeds an over-collateralization of factor (e.g. 1,5), Luna gets bought back and permanently burned, if it falls below 1,5 → we buy again 100% Bitcoin
- community
- builders should stay in the heart of the community
- DAOs are the future, but we have to make sure, that we have a functional government… there could be multiple layers… several kinds of sovereign guards, like Builder Foundation Guards (proof of build) , …
- a snapshot should be taken before the depeg, to bring the core community on board
- it should only include Luna stakers, the “unstaked” Luna could be used for the builders and to fill up the treasury
- for going forward, it’s important that v2 is completely free from v1 (esp. coz of legal compliance)
- meanwhile, TFL/LFG shall try to compensate all the UST and other asset holders as good as possible, with whatever is left
We need a clean cut, not an even bigger mess with an uncertain future. There is a higher purpose on stake!