A stablecoin is essential for v2 ; purpose >>

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!

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