Now when we’re working on a ustc repeg plan we need to stop any ustc distribution. It was unfair from the start. This burn will make repeg 10% easier (20% excluding TFL/contracts wallets). At this moment we are wasting ~1 million ustc every day for nothing.
Burn ustc in Oracle Rewards Pool (terra1jgp27m8fykex4e4jtt0l7ze8q528ux2lh4zh0f).
And much easily. But TR ignore any ustc proposals, without TR support validators dont want to vote. Remember the recent loss of 1.6m (100%~) ustc from the community pool, although lunc there is much more (1b).
I think the concern is that USTC has potential liability to a balance sheet in future litigations, as the coin was once promoted as a stablecoin (algorithmic or not). It could be years before this resolves, if ever. Until then, a repeg seems unlikely to me.
However, as a long term investor, i would consider buying USTC on any exchange that offers it at a discount or low price , and then move and swap it to LUNAC on terra station.
Could this help the Terra chain by moving cash from CEXs to Terra wallet, by burning inflated LUNAC, and by consuming USTC though on-chain swaps?