This event has been the greatest redistribution of UST/LUNA across the crypto community. The Terra/LUNA ecosystem will be the stronger for it.
ALL proposals should focus on the burning of ALL excess UST/LUNA held by ecosystem protocols and team.
A NEW BEGINNING. We should all embrace it.
Don’t kill the recovery with these key stakeholder motivated, m/billionaire advised and VC driven garbage proposals, forks, resets, reorgs, etc.
(dollar cost averaging is THE solution for everyone under this proposal)
I would also say permanently only allow minting LUNA (burning UST) when market cap of LUNA > number of UST, with a limit to a small percentage of the market cap.
Minting of UST should be the same, only possible when number of UST < 0.1x market cap so there’s always a huge buffer.
That way the ecosystem can grow but never too fast and minimizing loss of confidence in redemption.
And again I am asking you guys. TO BURN means TO BUY. Who will finance buying of 6500 billion LUNA? Where is rescue money supposed to come from?
From the bailout fund the creators made for exactly this scenario