Burn Lunc proposal project

You need to do a little more research on how things work my friend. 5.9 Trillion is excluding the 900billion which are staked. A lot of the coins belong to people who are looking for a quick gain ,day traders or exchange liquidity. Also a lot of people prefer to hold their coins on the exchanges thinking that they are safer there or use their own wallets.

When you stake you provide stability to the chain and you also “risk” your coins by locking them for 21 days (Eg if hypothetically the project is to fail, you can not sell and “run” until the locking period is over in which case 21 days is a long time).

I suggest you check out HCC and lunc penguins, both have a lot of information on how things work, it might be helpful to you if you view LUNC as an investment and not as a " lunc to $1 in 1 month" type of deal.

Good luck and hope this helps.

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Please, don’t take it personally, but by the things you write, I feel you have no idea at all of what you are talking about. Dyor especially before posting here, in the government section. There is a whole community around you which can help you to get a better education with regard of this blockchain.
As they already suggested you, Happy Catty Crypto provides marvelous information almost everyday.
He got also an awesome Telegram group where you can ask directly any question on any matter.
I’m sure your effort to help out this community will be useful once you know a bit more about it. Cheers! :slightly_smiling_face:

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Sur but you agree that when people in the community tries to understand some things about what is happening and about eventual solutions well most of the time the questions are not answered by anything than the type of answer you just gave :man_shrugging: even on Telegram groups. Seems the lunc community and ´terra rebels’ are quite useless in that case appart those fudding or those jumping around everytime 5 percents moves.
And to finish what o know is that terra ust already had a crash with is depeg and I know how it happen. Now what o don’t get is how terra is hmhonna avoid that again because of the arbitration algorithm.
The roadmap talks about lunc burn, now explain to me how it’s supposed to burn more than a trillion lunc at writing time with a circulating supply increasing?? Oh sorry I ask you but your answers might be nothing else but a useless comment! Instead of answer this kind of stuff you’d better participate to the CLEAR answering if you can then and not just copy and paste what you have read elsewhere and also didn’t understood anything like many people! Cheers :slightly_smiling_face:

Wait a second. What are you talking about?
That’s not the place where to discuss about the USTC repeg. You are off-topic.
We were discussing about your idea to burn rewards (aka burning the Oracle Pool).
By the answers you gave here, it seems to me you have no idea what the Oracle Pool is, you have no idea what’s the reason behind staking rewards, you have no idea of what’s the difference between the total supply and the circulating supply, you have no idea of the role Binance has with its own 2.3T hot wallet.
So please, if you wanna talk and discuss, there are groups where you can educate yourself a bit more. That’s not the right place where to do it. Bye

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Yeap this i know 5.9 trillion is without the staked coins since they are locked up
They are in total supply
But not I’m not those who thinks tomorrow it will hit even 0.01 conditions are absolutely not there.
I see big movements around lunc and this is only reason I’m in.
I’m gonna check out lunc penguins and hcc thanks

@Paolo_D.90
It is also the place to talk about repeg since it has a direct effect on lunc and a decision to burn rewards has to take that in consideration :man_shrugging: sooo not off topic actually.
Do you really think binance is gonna burn such an amount? Don’t think so anyways are not we off topic with this binance subject since this amount is not staked? :wink:

About the oracle pool, explain to me with your OWN words what it’s made for?
Because it’s now 5 people who talk to me about oracle pool but none are able to explain with their words what it’s for they just copy and paste what we all see on internet.

Now the fact that burning rewards will have bad effect on the oracle pool, ok, I’m not educated enough to confirme or not if it would be the case.

Then if there is only 900 billion staked, why not implementing the obligation for every lunc holders to stake a part of their luncs. Example you buy for 1million lunc on binance, 300 thounsand are automatically locked for staking in your earn wallet. Will mean that (example) 30 percent of luncs holders would automatically be staked whatever the exchange, free to them to stake more.

So if we burn then half at least of the rewards, the oracle pool won’t be hurt since there is double or tripled staked luncs. Neither the validators.

But in that case would the apy still be that high?! Well I think that to every problem there is a solution even in the burn reward proposal it needs to be discussed and not just finding reasons to say no without turning arround a bit more.

Am I supposed to seriosuly answer to all of this?
You really meant what you wrote? To force people to stake part of whatever they buy? What the heck… You can’t choose how others are supposed to use their own money. If you don’t agree on this, there is nothing else I can really tell you about any other topic.

About the oracle pool, explain to me with your OWN words what it’s made for?

So if we burn then half at least of the rewards, the oracle pool won’t be hurt since there is double or tripled staked luncs. Neither the validators.

Again you are showing to know nothing of what you are saying, sorry about that.
Where do you think stake rewards come from? From the Lord of the Havens?
They come frome the Oracle Pool.
It’s a huge riserve of money from which rewards are given to stakers.
Stakers are needed as they help the blockchain to function, as they validate transactions on it.
Without validators+stakers the blockchain cannot exist.
So you are suggesting to reduce rewards by imposing a tax burn on it.
This would descourage people to stake and would compromise the blockchain.
Also, the Oracle Pool is not unnlimited. It’s actually composed by 250B Lunc, and it decreases every time rewards are spread around (Back on May 22, it was worth 375B Lunc).
So even by assuming we were so crazy to burn the whole amount of rewards we are getting every second, we would get rid of the 250B, which is nothing compared to the actual total supply (6.8T).
Bye!

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Now thanks for that answer which is better than just commenting for nothing :+1: good informations and explanations :pray:

lunc don’t have the same story as other coins like we all know so by implementing a reward burn taxe and an obligation of staking when investing in it, investors should know what it’s for and maybe this would even interest them MORE knowing that everyone in it is acting to give strength to it than just letting it go.

I understood the meaning of hurting the oracle pool by that. That’s why the staking should be more important to compensate that.

So oracle pool indeed is not unlimited I saw that recently then what would happen once again t goes to zero?
Getting rid of 250 billion is nothing to it only but accumulated to every other burn mechanisms it’s a lot more than zero.

There is something to do it indeed needs a deeper studying