So 1.5% on chain.
Dapps and features whitelisted which help chain/burn
LUNC is bleeding out. People want deflationary better act quick before this baby runs out of LUNC to pay anyone.
When is the prop going live?
Something needs to happen. Watching this shrink each month is painful.
I have decided.
My Final Vision Plan for LUNC to $1+ proposal WILL go up for vote in June.
I will announce the exact date in due time.
This is to allow time for the L1TF to complete parity in May, so they can assist with the implementation of my proposal in June (subject to it passing governance).
Please be patient until then!
See this tweet also: https://twitter.com/ForTheCross_CH/status/1655119617348751362.
Regards, Christopher.
yeah we will see , lunc wont be here juneâŠnice effort
the speech assumes that with the tax, the volume remains the same. leaving aside the difficulty in getting the yes from all the exchanges. there is goodwill in this proposition but it does not provide an incentive. please take a look at my proposition, where I talk about selling something and providing a real incentive to burn luncs and increase the volume transacted to increase burns, without touching the rate, as well as having a major burn immediately, instead of wait years.
What little I have compared to the rest of youâŠyouâll get a yes from my coins.
Hi the incentives in my plan are internal wallet whitelisting from on-chain tax and deposits to exchanges exempt from on-chain tax. These are two good incentives. This plus community pressure and the other methods to achieve the goal of 1.2% burn tax off-chain are explained.
I read your proposal and do not agree with having a separate coin taking part of the burn volume. Burns work just fine we just need to increase them more, we donât need a special new burn token. Thatâs my view on it. Regards.
@LetsGrowDev LUNC will be here in June, whether the price is up or down from here. My prop will go up for vote then.
Brother, forgive me but it doesnât matter whether my solution or yours is adopted, it matters more that the supply decreases, is that correct?
If all lunc holders bought $10 worth of lunc and we burned it, how many billions would we burn? many. but not everyone would. and you must admit that what you say is probably utopian.
I propose to sell the burns, and burn the proceeds.
Within a few days you would have the supply decreased by a few percentage points. plus now trading the token (or nft) that entitles you to that revenue will increase volume in the chain. The cool thing? Is there any positive news where it is assumed that the volume of the chain will increase? it will increase the price of this token, then the trading volume, then the taxes, then the burns. If trading this token has a tax, on top of whatâs already there, the amount of which feeds back to the CP, the CP can sell those tokens and burn the proceeds, burning more lunc than it would now, just because weâve âcreatedâ a " product" that âgives an expectation of earningsâ, if the volume in the chain really returned to important levels these speculators would really earn, and the creation of this same product would help all the way.
There is no scam here, youâre just pointlessly trolling my thread. My proposal is a good and fair plan to achieve the 1.2% burn tax off-chain, and is explained clearly with all its points. Dropping the 1.2% burn tax was a scam.
If the burning proposal is good I support it. Voluntary burns is not a good plan itself, only in addition to a fair burn tax, so all contribute without only some contributing and others not (voluntary burns). From what I read of your proposal it takes a portion of burns to fund your coin, and this would reduce burns. Only if your coin became more popular and people buying in could increase it so much we got more burns than just the burn tax. Thatâs using our burns to fund your proposed burn coin. I donât support that, as I said I like the burn mechanism, sending coins to the burn wallet. I donât believe we should have any burn token intercepting burns with an uncertain path to possibly more burns. I like my plan as its simple and easy to understand.
Still suggest modifying the 1.2% off chain clause.
In addition to whitelisting and avoiding 1.5% higher tax, it would highly benefit letting the CEX keep 0.2% and effectively burning 1% to the official LUNC burn address.
It gives them more incentive to adopt the proposal on their platform.
Kind regards,
Aditya Garg
Can I suggest you put the prop up now with an implementation date of next month after parity etc.
If the prop fails it will give you time to adjust the prop based on feedback.
We need good news. And fail or pass a prop that burns will drive some interest back.
At the very least can there be a prop for 1.5%, whitelist for Dapps and a split of 80/20 to be implemented next month with your 6 month vision.
I can see a lot of the community going for it. Not all⊠but people want to see progress on burns.
Then do a part 2 to follow on your plan and a part 3 if Ness.
Hi I believe waiting until the L1TF is available to assist (June) is best for the plan. Iâm not trying to rush this. I want the plan to pass on the first shot, and I also want everything ready to move quickly once the proposal passes, as Iâve outlined I want 6 months to achieve the plan. Supporters of my plan please be patient until June when the plan goes for vote. Until then raising awareness and sharing the plan with validators helps.
Hi Aditya, I donât believe offering exchanges a cut of the tax will work because they will see implementing the 1.2% burn tax as a charitable move to help LUNC. Them taking 0.2% would be the same as them increasing their exchange fees, and does not help the burn. Overall I donât believe exchanges would want that, they want the minimum tax on their users. So I believe the incentives in my plan are sufficient (internal wallet whitelist and deposit exemption from on-chain tax). This rewards exchanges who burn for us. Thank you for your suggestion but I prefer my approach. Regards.
I donât understand how taking a part of our burn tax to fund your burn coin can burn more than what we already burn. Does the burn coin burn on every buy and sell? How will you get that implemented. It depends on interest in your brand new coin which is impossible to quantify. I donât support modifications to the burn method with a burn token. You are welcome to your own view.
no dude, i explained it in the post. the token that entitles you to tax revenue must be sold in lunc and the proceeds of the sale must be burned.
Anything that requires another token of any type is a no from me.
We have the facility to burn ourselves. I agree with you.
Why move liquidity around when it can easily be done on chain. Terraport and creamat etc.
Run with your idea pal.
if you sell 100,000,000 coins for 2300 lunc each you have burned immediately 230,000,000,000 you canât think another token is bad regardless. as if the means mattered to the end. I donât get anything from the creation of the token, we all get from the burns. let mathematics, rationality and feasibility evaluate the goodness of a proposal and not preconceptions. what I propose depends on us and not on other people, it has advantages for us holders of the ecosystem, and receives those advantages by selling something to someone who wants what we sell. in short, everyone is happy, everyone makes their own choices and takes responsibility, but lunc burns, this is the important thing. LuncTax holders, at the same rate, would, in dollars, have more revenue, given the initial burn of 3% or more of the supply.
I hope you can submit this proposal soon.
Itâs going up for vote in JUNE. I will make an announcement when exactly. Thank you.
Burdening the CEX increases the risk of d elisting and is not recommended.
I also cannot agree to raise the tax.
Funds will flow to other chains.
no its not
Iâll post the reply I made to your same comment on Twitter:
âWe are making positive requests under my plan not blacklisting exchanges. We try for 6 months to achieve the goal of 1.2% burn tax adoption off-chain, and negotiate respectfully privately with exchanges with the L1 Team and myself assisting, with incentives we offer, and with community pressure. They are free to agree or not. Our tax on-chain is our own business as a decentralised chain. We offer them incentives to burn for us off-chain and match our 1.2% on-chain burn rate. I believe the plan is good and achievable, and wonât result in being de-listed off major exchanges. Thereâs no reason they would. You are wrong, as reducing the tax caused funds to leave our chain, see the chart. Weâve been crashing for 6 months since the tax got lowered. Higher tax and pushing for off-chain burns will bring back the hype, excitement and investors to LUNC.â
