Enable Staking/Delegations on Terra Classic for USTC

Summary

This proposal aims to enable Staking/Delegations on Terra Classic for USTC.

Motivation

The motivation behind this change stems from the realization that when staking was deactivated on Lunc, it had detrimental effects. However, after the re-enablement of staking and the burn proposal to Lunc, there were promising signs of a revival. Enabling Staking/Delegations on Terra Classic for USTC would allow more users to participate in governance and facilitate the removal of coins from circulation, and give a direct utility, ultimately supporting any plans for a repeg of USTC with Lunc.

Proposal

The purpose of this discussion is to gauge the community’s interest in moving in this direction, as it can complement existing proposals rather than being an either-or situation. Any feedback welcome{ please be constructive } .

11 Likes

Excuse me if this is a stupid question - I dont know much about USTC, would USTC stakers get an APY? and if so, would this come from the oracle pool?

1 Like

Can you please not leave you guys earned alot without doing anything.

We don’t want Vegas and his team near LUNC!

The Turkish Community

4 Likes

Yes. Maybe another increase in fees (still really low compare to other chains) would help to fill oracle pool faster so APY funds would be available.

1 Like

This proposal is even more useless than your tax obsession. You may have done positive things for TC in the beginning, but now it’s time for you to leave the chain. I deeply regret that I supported you and TR. Pepe, Doge and Shib suit you and your friends much better.

3 Likes

I am interested in this proposal and I support it.

3 Likes

How are you going to enable staking for USTC since it´s not our governance token?

I like Vegas. I like his work. You guys are hard on him.

Ok so my thoughts.

We don’t NEED to lock up USTC. The level of USTC is now lower than before the crash as shown in HCCs explanation.

However as already asked. Would it provide an additional APY? Would it be for both USTC and LUNC?

And yes although we don’t NEED staking can work with repeg efforts to speed it up.

2 Likes

So ,this could be done in different ways ,but could be done independent from Lunc itself ,but my original idea was to connect them in a away that will make the user want to have both ustc and lunc staked.

5 Likes

If I was staking USTC…I’d want the ability to do it on station and keep it simple.

My USTC is simply for lunc swap so until it’s a $1 stable I don’t really need it swap during price moves.

I think the ability to buy/sell on chain is where the next really big thing is I would hope you worked on. But that’s off topic.

I’m interested to see where this goes but USTC is in a decent place I feel. The burning and utility for lunc is where the next hype is.

Still looking forward to if anything comes from this.

2 Likes

Good idea. We need back USTC from exchanges and more transactions.
Oracle lunc - for lunc staking. Ustc lunc - for ustc staking. Easy.

didnt you run with 12.5k of TR money …this community is unreal lol

2 Likes

Hi where would the rewards for USTC come from? If from the oracle pool USTC then wouldn’t this be taking from our current LUNC rewards rate which is paid in LUNC + USTC? Then you would have to own USTC to get USTC rewards. Otherwise what source will the USTC rewards for staking USTC come from? How does that integrate into governance since everything is based on staking LUNC? Needs to be more fleshed out atm.

Good idea too.
Both holders (lunc and ustc) should governance. Because they are in the same state, after crash.

Of course, this will be positive for chain.
But we have ustc only in Oracle.

$12.500 is not enough for the rewards, you have not had enough?

Oracle ustc - only way.

1 Like

When voting?

Isn’t this the idea of Redline Drifter as part of the Ustc repeg? :thinking: are you really selling us the idea of another person as your own? :thinking::thinking:

Who’s gonna build the USTC staking module?

And who’s gonna pay for that?

This isn’t just a line of code you can toggle ON/OFF.

2 Likes