Call LUNC to Major Exchanges for 1.2% Burn

lets see what will happen,CZ “talks” about LUNC and proposal 3568 see it:

1 Like

The common problem faced with with taxes on transactions is that there will be some wallets which have loaded up on LUNC, and will wait till the price rises to make a killing. This would be unfair to all those transacting wallets who pay the 1.2% tax, and I believe that this is what CZ (@Binance) was alluding to here: youtu.be/lldGpGsUcWw (skip to 33:30).

I would suggest a blockchain wide reduction factor governance proposal of say 2% daily. Every wallet interacting with the blockchain (exchanges included) should be have a 0.98 multiplication factor applied to it daily at a specified time (say 02:00 UTC) until the total supply is reduced from ± 6.5 trillion till 10 billion. Base on my calculations, the target supply will be reached within 1 year (about 321 days) using 2% - This can be altered with supportive justification.

At that point, The mint/burn mechanism between UST and LUNC should be re-established, allowing users to burn their UST to mint LUNC, thereby reestablishing the $ peg.

Thoughts?

Pls look, this offer I propose meets the demands of the exchanges as CZ mentioned , let’s share please…

Simple, fast and fair…

The same reduction factor can also be applied to wallets holding UST, until the 10 Billion LUNC target is reached.

@Detox. Thank you. The proposal has passed. Time to implement it. We have people now trying to say it’s unfair. They should have voted but probably didn’t. The proposal has been passed. Time to move forward with it.

2 Likes

Everyone is excited for this. But who will do the application and how. There isn’t even a timeline. They did not make a single statement. I’m just in a rush how it can be implemented quickly and efficiently for the 1.2% Tax&Burn-Proposal:3568. Nobody wants another offer. My suggestion is for 3568 only for implementation purposes, no different voting is required.

This is our victory as LUNA victims. we must protect. Please everyone keep pushing LUNC BURN…

2 Likes

Look, this proves the correctness of my suggestion. He explained why he did not like the idea of ​​burning: Loss of customers

This way a solution works for everyone. We have only one goal, to bring the supply to 10 billion. Please do not dilute the work…

@detox Well, how to start. Okey, it´s very good someone is trying to help LUNC. But there is very big problem with 1,2 % tax burn.

  1. It´s true it will suspend activity on chain and move them to CEX´s. (price drop)
  2. 1,2 % tax/burn is not needed already. Swaps must and will go on. This will help a lot.
  3. Only way to implement 1,2 % tax on all transactions and prevent it to suspend on chain activity is use this tax as stabilization tool for USTC. (buying reserve assets for it, but not burning it)
  4. Burning does NOT add value to it´s coin. Price is being pushed up only because of constant market cap. There is very big risk the price drop will happen when you do something stupid like this. Because it acually doesn´t solve problem.
  5. I think TFL´s will not implement 1,2 tax or they will implement it after chain swaps will be re-enabled. Now it´s pointless.
1 Like

If you can count to 6.9 trillion, I can agree with your ideas :slight_smile:

The claim that its value will decrease is very wrong. If the goal is to increase the value of LUNC, this would be the most stable way.

Burn process on big exchanges like binance is a new and very big project, the potential is very high, don’t underestimate it.

It will come in an incredible volume and price in 1 week. I’m sure there will be non-stop trade and supply will decrease rapidly.

Projects should be launched after a fixed supply of 10 billion…

1 Like

@detox I saw your comments before. I think i understand this problem more then you and CZ Binance says same as me. So. I don´t care anymore about your wrong speculations. I said you why this is bad idea. And you only repeated yourself. Pointless.

LUNC governance is going to have to get total control away from Do Kwon that way LUNC governance can mandate the 1.2% Burn Tax.

Once LUNC governance has total control then we can mandate the 1.2% Burn Tax at every exchange that lists Terra Classic.

You can be against 3568 as much as you want, but this proposal has passed and should be implemented. Thousands of people like me own and support this offer.

We want it implemented as soon as possible. Different projects are not of much interest to us at this stage.

I wrote these thoughts in support of 3568 proposals. If you are against the proposal, pls proceed under a separate heading or remain silent like Do Kwon…

This will never happen. TFL will have last word forever. Just accept it don´t try to change reality. Only can change is total ignore for new developement. This will d list LUNC,USTC,LUNA… I really don´t think they will do it. Never gonna happen there is a lot of money in it.

If you expect there will be something implemented without TFL sell now. This will never gonna happen. TFL will have last word forever as i said.

You act like they stole from you. Did you read what really happened? Do you really think they could do something against it? I don´t. It´s time to fix problems and make LUNC great again. This is gonna happen. And you could be sure they will do the best for LUNC and USTC price because also LUNA(v2) is affected.

How To Make UST One Of The Top Three Crypto Currencies.
Pat Hipskind, MBA

The reason Bitcoin is crashing is that it is not backed with capital or collateral. Banks use what is known as a Capital Asset Ratio. A financially sound bank uses around a 1:10 Capital Asset Ratio. For every $100 in loans it makes it has $10 in cash in reserve (capital).

If UST were to have a 2.5% Buy Tax the tax could be used to purchase securities that are reserve capital or collateral. Governance could have a Robinhood or Etrade account and buy Dow Jones Industrial stocks to use as reserve capital or collateral. DJIA stocks will work sufficiently as reserve capital or collateral.

Doing this would negate the necessity of ever having to Repeg UST. We just let the price keep going higher, and it will if there is sufficient collateral or reserve capital backing UST.

What we would be doing is running UST like Warren Buffet runs Berkshire Hathaway. UST becomes an investment company in essence. And the value of it keeps going up.

When Terra Luna minted all the coins that really caused the crash of UST. That was stupid to do. That was like doing a stock split when the price of the stock is dropping. You never do that. You split a stock when the price is rising, and you do a reverse stock split when the price is falling.

If the price of UST were to fall below 20% ( a market correction is 12% to 15%) we could liquidate some of our capital, our Dow Jones stocks, and buy UST to bring the price back up. In this way UST can become one of the top if not the top cryptocurrency.

4 Likes

这币根本没希望了,产生太多lunc代币,terra止所以流畅,是因为系统封闭的,币少,现在太多lunc币了,系统变得不稳定,性能下降,速度变慢,这是他们要放弃terra classic链的根本原因

We’ve been waiting for an explanation about 3568 for weeks, then we saw ridiculous tweets any form other than an answer or explanation.

Do Kwon mind works like a adolescent boy, I’m sure of that. His ridiculous tweets are low level, pointless, egotistical… In fact, this man is so selfish that he tries to do everything alone. It has neither a team nor employees. The great genius who reduced 100 dollars to 0.0001 knows everything as fork :slight_smile: yes yes… I hope lunc and luna will be taken away from this as soon as possible…

I hope someone takes this suggestion into consideration and implements it quickly.

Instead of doing business they race their stupidity

If someone responds to CZ, the Burn will start quickly but there is not a single official.

Find solutions for 3568, fight those who try to sabotage it. The one-of-a-kind LUNC with 1.2% BURN!

5 Likes

I have said and will continue to say until they restore LUNC, then nothing will come of them with LUNA 2.0. Remember my words, if they do not burn out and leave 10 billion LUNKs, then in a maximum of six months of the year this LUNC and LUNA 2.0 ecosystem will collapse like a hundred-meter tower!.

Believe me, now many are waiting for their TERRA 2.0 coins to be unlocked in order to quickly sell and run away from this network. If dk does nothing for LUNC before unlocking, he will see his so-called network fall apart!!

1 Like

What a pity that they took such a beautiful ecosystem and ruined it, consider that you are taking your child and maiming it!

Is the goal to reduce the supply of LUNC or to keep this torment every day? The solution is simple: just off-chain burn.

Does anyone really understand this idea?

2 Likes