Burn The Remaining UST in the Community Pool + Cross-Chain Liquidity Incentive UST

Governance & Proposals
126

That’s a good point. I can’t see the timeline of votes, but there have certainly been some since yesterday (I saw more ‘yes’ votes appear when I refreshed my screen). So, it seems not every validator considers this an obsolete proposal.

It also largely depends on communication over the next 3 days from Terra which is largely in iceberg mode now, because most war room discussions are hidden. Literally everything depends on what comes out of those discussions.

127

Now that we know that Terra project is a sinking ship and that LFG turned out to be a money laundering machine. We’ve got to push for this proposal to happen so that at least some UST value could be withdrawn out of this sinking ship.
As per LFG report today they also hold 1,847,079,725, we should vote for this to be burned as well.
1,847,079,725 (LFG treasury) + 1,388,233,195 (Community Pool) = 3,235,312,920 UST
If we burn it, then nearly 30% of UST liabilities (bed debt) will be restored.
This would allow us to play the last pump and dümp game. Much like what LFG did to us and the entire market.

2 Likes
128

hello,here is my suggestions about a burning mechanism to LUNA. Please read it a little,thanks

1 Like
130

bumping this up

1 Like
131

Think this has passed. When will it be implemented?

2 Likes
132

what’s happen if hits quórum?

1 Like
133

It hasn’t passed quorum

134

yes, it has…

1 Like
135

yup, it just did

136

So what happens now? will it be implemented ASAP or after the 7 days are over?

1 Like
137

This proposal has passed quorum and majority voted to burn UST

2 Likes
138

really?

1 Like
139

when start?

2 Likes
140

I think if we still benefit ust holders in launch day of fork and burn it now can help to reach 1 dol again, just me?

3 Likes
141

Okay,

But why we don’t use tax system on luna exemple 3% of each transaction :slightly_smiling_face:

With this tax is only use for repeg ust and burn ust when ust depeg, and when ust is peg we use this tax for burn luna token.

I think we will back and recreate 2 value product

4 Likes
143

Thank you for the info. Some further questions, would burning the 11% of the UST community supply add 11% to the current price? Ok it wouldn’t last long if so but just theoretically.? Selling 180M of UST on the open market would be much more difficult given its downward pressure on the price, am I too any degree correct?
Cheers

144
145

Hello, thank you for the proposal, now the vote is accepted so when does it will be deploy?

146

because they just don’t want? proposal is nothing here until it’s created by dontklown

1 Like
147

Is it? The proposal voting time ends in about 21 hours, so I’d say it’s not yet officially accepted.