Apply optional burning tax to terra station rewards for LUNC

Apply an optional burning tax on terra station staking rewards for LUNC upon withdrawal.

This could drastically decrease the current supply of Terra Luna Classic which will help to put LUNC back on healthy levels and gain traction again amongst other major cryptocurrencies.

Applying the optional burning tax on terra staking rewards can help to decrease the current circulating supply and potentially help the community to be self sufficient without the need to rely on the central exchanges to burn the extra tokens.

The implementation can be added on terra station when the user tries to withdraw the rewards. An optional box with numeric (decimal) field that can be applied before the withdrawal (min = 0, max = 100). Once the user withdraw the rewards, the optional burning tax will be calculated and subtracted from the total withdrawn rewards. i.e. total rewards = 10000, optional burning tax set = 50%, the total withdrawn LUNC = 5000 and the rest will be burnt.


so what is the point of staking and locking up ones coins for 21 days ?

not the brightest idea to encourage staking to go beyond 10%

Consolidation is the best and fastest way - amazing how more experienced and knowledgeable people have not provided any constructive feedback or provide valid reasons why it perhaps cant be done.

It’s optional feature for people who wanna participate to burn extra tokens (personally I’d like to see it applied automatically just like the 1.2% tax, but obviously not everyone wanna participate in that). We need to bring the circulating supply to normal and healthy levels before we can do anything. The more we can burn the faster LUNC can get back on track.

You do realise that when you stake your coins it takes them out of circulation and reduces the total supply until they are UNDELEGATED.

When coins are undelegated there are no rewards obtained for 21 days and in turn cant be sold or traded for that same 21 day period.

Encouraging staking reduces supply and the reward is the incentive for the RISK.

To ask stakers to do all this and wish to tax them again to the benefit the non stakers fails to take into consideration the RISK undertaken with 21 days your coins are being locked up and that there is no reward for 21 days after undelegating.

The return is still not that great of an incentive and that will decrease even further as more people stake in the future and the reward pool as far as I know is funded for 12-18 months ATM.

Prefer to see a tiered staking reward based on optional time frames from 7 days 14 days 21 days 28 days and still be rewarded during the undelegation phase whilst coins are locked up until released back to full control.

I have staked 3/4 of my holdings and leave 1/4 unstaked to capture any volatility - ( NFA )

Key Point is that the non stakers are the ones truly not committed to the process or taking the RISK ; ))

I totally understand and same for me I’d like to see different time frames not to wait 21 days to be able to do anything or even have similar approach as Cardano where you can unstake your coins right away without the need to wait.

However, as I said it’s optional to people who wanna contribute more. Personally I’d dedicate 50% of my rewards to get burnt if that helps the cause. My focus right now is to burn as much as possible to put this crypto back on track. This will also attract more investors and could lead to solidify the stance of this coin. More people will be interested, then sooner or later there will be a utility for it.

I have good faith in the community and I’m sure we’re gonna put this back on track.

Perhaps you should work out your total cost of burn tax and rewards and time period of no reward when you undelegate as your total RISK for REWARD.

Pointless staking if you intend to burn 50% – Your coins, you do what you like, but to impose that on the entire community is impractical and not worthy of the Risk.

These types of comments emphasise to me that people perhaps dont truly understand or comprehend the level of Risk being undertaken by people who Stake.

I have staked 3/4 of my holdings and leave 1/4 unstaked to capture any volatility - ( NFA )

Currently I am getting 1 LUNC coin per hour for every 29K-30K coins staked.

75M LUNC x 1.2% Tax = 900K coins burn tax

75M LUNC divide by 30K = 2,500 coins per hour x 24 hours = 60,000 coins per day

900K burn tax divide by 60K reward coins per day = 15 days it will take to cover the 1.2% burn tax.
(if you burn 50% then it will take you 30 days to cover the 1.2%)

Then you allow for the FACT that when you UNDELEGATE you will then receive ZERO REWARDS for that 21 day period, whilst still not having any control over selling or trading your coins.

Undelegating in less than 36 days creates a loss on your investment / gamble.

Staking needs to remain an incentive as it reduces total supply.

Perhaps focus on encouraging people to Stake rather than Taxing those taking on far more risk than the unstaked holders.

Again, NON Stakers are the ones that are truly not committed to the process or taking on the RISK !

You’re missing the point. Again this is optional and not mandatory.