There is a flaw in the plan. The owners of Lunc do not come to the exchange. This is where fiat traders come in. To make long positions, they simply buy cryptocurrency and then sell it. To make short positions, they borrow cryptocurrency from the exchange, leaving fiat as collateral. In most cases with leverage. Borrowed funds are already allocated with a commission. The introduction of the 2.4 tax will destroy speculation. Only random passengers who need to convert funds will remain. One-time transactions. There can be no talk of any daily volumes.
You are wrong. Futures trading already applies a ton of fees to hold open the position for any length of time, which traders have no issue with. A simple 1.2% on buy and 1.2% on sell they will get used to, it won’t stop them trading. The pump and FOMO we will get from the 1.2% implementation off-chain if the plan is successful will bring huge volumes and they will trade. During periods of low volatility they need to get used to it. Our first priority is LUNC investors, not making trading whales who don’t hold LUNC great again. My plan is to convince exchanges to burn the 1.2% off-chain as detailed in the OP. If they agree the hype of recovery will bring an immense amount of new investors, the movement will be sustained due to LUNC’s unique history of being a top 10 crypto, reaching $119 and having a spectacular collapse. It’s revival will be amazing and the whole crypto space knows about it (“steady lads”). People who say things like what you are saying have little ability to understand what would really happen if this plan succeeds.
Same old answers. Learn how to engage in an argument properly, not like a 10y old kid. You just want to make me look bad among your cult of moonboys. Keep trying.
Still failed to show us how your plan can bring LUNC to 1USD and fund the chain if the tax increase ends up killing volume altogether.
And again, you’re trying to find a hidden agenda where there is none (contrary of your hidden agenda of profiting on behalf of peoples hopes and dreams of parabolic meme moves)
Where in your mind 1.5 equals 1.2?!? You just can’t stop contradicting and embarrassing yourself.
It’s fun to see you loosing it and repeating yourself over and over. Just like it’s a lot of fun mocking Rabbi regarding his hatred for TGF.
Can’t wait to see more contributions towards burning from you. Really. Have a nice weekend.
You’re triggered because I spoke the truth about you, that you want hidden. You hate burning. You love minting and want the minting death spiral mechanism turned back on. You hate post-crash LUNC investors and don’t want them to profit out of some strange pre-crash superiority complex.
My plan is so simple you continually try to deceive people about it. That’s also your inane FUD that having 1.2% off-chain burns would somehow k-ill volumes. Totally ridiculous.
You have an agenda, a clear personal vendetta against me and my plan, and a seething hatred for my true Christian faith, and my validator JESUSisLORD. You’re also a continual false accuser.
My plan if successful will put LUNC on a sure path to $1+. You’re afraid my plan will succeed.
You can read the OP again. It was always clear the 1.5% on-chain tax has 1.2% burn tax 0.3% to fund the chain. We ask exchanges to apply the 1.2% burn tax component, and we have the same burn tax on-chain as off-chain. It’s very easy to understand. There is no problem, just the false ones you invent in your mind.
You’re getting upset that people are seeing that you are a troll, with nothing of value to contribute but just to live in my governance proposal thread and to speak nonsense in an attempt to stop my plan. You have fun trolling my thread I know, because it fills you with joy to do evil. All of what I’ve said about you is true.
That’s your prediction both my props won’t reach quorum or be vetoed? You don’t know.
The community and validators will decide on my proposal. No amount of your trolling my thread will change that.
I can’t wait for June 1st to vote YES.
Didn’t you just say this before?
Then you post that video…
Calling himself “the mighty mighty unconquerable Commander”. Sounds like blasphemy to me.
Raising the tax to 1.5% will not help, neither will 0.2% and 0.5%%. The burn mob needs to know what will work. The ONLY way to burn all of the excess LUNC very fast is by repegging USTC and reversing the mechanism that minted the excess. With minimal deleloper efforts this can happen and the slow repeg testnet proposal will prove all of this with some modeling. The burn rate will be 50,000 x (not 50,000%) 50,000 times or the entire excess LUNC can be burned in two months.
This has been widely known for over 6 months but people still keep f***ing with the burn rate thinking they are geniuses, they are not. Waste of a proposal and hard veto.
Just support the Repeg testnet proposal and let that play out and everything will be fine. Whitelisting the Dapps is probably okay.
looking to build forex dapps on the chain, let me know if interested.
For the opponents to Christopher’s plan, some of you are validating the effectiveness of the “inoculation effect” and the “first mover advantage”. Since there is a very obvious desire by some to avoid deeper burn taxes (for their own shortsighted advantage), someone had to propose a superficial burn tax first. The .5 was supposed to prep the battlefield by blitzing everyone with burn fatigue. Many of you understand what I’m describing, and some of you employ it. People “get their fill” of a subject and have no room for any similar idea in their head. Knowing that @JESUSisLORD 's proposal would actually take a bite out of the total supply fairly quickly, the inoculation effect was coupled with “first mover advantage”, which says that getting your idea or product to market before the competition can have advantages that are difficult to overcome. Someone just made a comment to Christopher that the .5% had “cut his grass”. You just proved my point with stark naked prejudice. As to any of the rest who seem to take a perverse glee in ridiculing his faith, let me ask you this… if an avowed atheist proposed a really good burn tax that looked like it would really help the entire LUNC community, would you stand against it if you disagreed with his faith, even if in the long run it could make you wealthy? What if it were someone of a different political persuasion? Don’t limit yourself by rejecting Christopher’s good proposal, by getting all hung up on his faith. Making lame memes of your avatar beating up his only tells the rest of us that you looked at your arguments against his Final Vision Plan for LUNC to $1+ and decided you had NO fact based arguments to offer, and decided that an ad hominem attack was the best you could throw at him. He won. Honestly everyone, he covers all the bases and if it works out it will improve all our lots. If each of you put as much effort into promoting or improving his proposal, as some of you have put into defeating it, we would all be better off. I know that this is a group of intelligent and creative people that have the ability to consider an idea on its merits, rather than disregarding one based on your biases. If you read this, thank you.
Wrong. You ignore and mock my safe, simple and effective plan to burn the supply and get LUNC to $1+ (which doesn’t stop USTC re-peg efforts by the way), but you want to go back to the failed and disastrous idea of turning back on the minting hyperinflationary death-spiral algorithm? You think a little bit of tinkering is going to make that thing safe? We don’t need a dangerous experiment on the chain to send all our investments to zero.
@E44 thank you, well said.
There’s 4 days until my proposal goes up for vote:
Also I will be doing a Youtube livestream going over my proposal and answering questions. See the tweet for details and the link to the scheduled livestream: https://twitter.com/ForTheCross_CH/status/1662641224053051392
Yes vote on this one
Clearly you want to control the chain. We are a NO on this.
These are your words:
Why do you have issue with me helping L1TF and/or TGF with contacting exchanges and overseeing the plans fulfilment and reporting back to the community?
Did you campaign against Redline for doing the exact same thing?
Why do you have a problem with me asking the community to not do boycotting or blacklisting if my proposal passes?
Why do you have a problem with me asking people who voted NO to not try to sabotage the plan and effort if the proposal passes?
Of course you’re a NO. You vote against all burn tax proposals and you want the burn tax gone. At least give fair comments against what I’ve stated.
The plan is clear and straightforward to achieve the 1.2% burn tax off-chain. Obviously I’m going to be involved to make sure it’s going according to plan, and to communicate with the community, no different than Redline. Any involvement I have with L1TF and/or TGF is strictly in relation to this proposal IF it passes governance.
Naturally if my validator continues to grow I’m going to exercise my voting power and influence to make positive change for LUNC as I see it.
You advocate for the burn taxes removal against the wishes of most of the community, but you somehow aren’t trying to control the chain?
All this hinges on Binance approving off-chain burns.
They’ve been against that idea so far.
full support for this proposal, this is the way to bring lunc to 1 usd
@RabbiJebediah yes convincing major exchanges and especially Binance to implement the 1.2% burn tax off-chain is an essential part of my plan for it to be successful. You can see my tweet here regarding CZ and why I believe we can convince him under my plan and why this is different from the last attempt: https://twitter.com/ForTheCross_CH/status/1663113488674488320.
To everyone my Final Vision Plan for LUNC to $1+ Proposal Livestream occurred today and went well. The recording is available online and is 1h 13m long, linked here: Final Vision Plan for LUNC to $1+ Proposal Livestream - YouTube.
This livestream gives a complete overview of my proposal, the voting stages and schedule, answering common questions and critiques, and I took live questions. Please watch this livestream for more information about my plan.
As Agora is becoming read only on June 1st (when my plan goes up for vote), please refer to the livestream, as well as my new post on Terra Rebels forums for the continuation of this Final Vision Plan for LUNC to $1+ proposal thread: Final Vision Plan for LUNC to $1+ - Governance & Proposals - Terra Rebels Forums.
I think you should send out that video of your singing to all CEXes and they will implement 1.2% off-chain immediately.
There is no guarantee for volume. But Lunc is not alive at this moment. There are memes coming and pumping hard with 10% or 15% tax. So why they are pumping? Even after 10% or 15% tax?
They clearly know that there is no future after a month or two month for this meme. Though who does not know still they jump in the hope to become rich. So this is just an experiment to get traders onboard and then later roadmap will be decided. If it helps to make money whales will pump.
But air of the LUNC baloon not gonna fly like other memes who does not have any roadmap/utility.
If LUNC burn even 20% supply in 3 month then, there will be a magic!
So what u/trader going to loose in 1.5% tax? Who actually “cares” for 1.5% tax? If you are long term investors then u are paying only once. Not daily 10 times paying taxes unless you are taking 100 trades in a day. I don’t understand why people are crying for 1.2% tax? what kind utility we have even after removing 1.2% tax and where we are? LUNA2 has many dapps still price is not flying. What kind of utility people want which gonna help the price and sustain it? and who is ready to build but not building because of tax. Do we have 100 dapps who are ready to build on LUNC? But not building because of tax? or any other specific reason they are not building? Anyone has the idea?
Only top 10 Crypto token going to survive in future. Rest gonna wiped out. LUNC has only 1 unique weapon is USTC REPEG. There is nothing going to make alive LUNC more than USTC REPEG. Crypto world runs through good narratives and hype. Even after having tons of utility there will be no guarantee of revival of LUNC at this stage.
Every decline of BTC it keeps falling hard only. Only fast pace of BURN and USTC repeg is going to help LUNC.
Rest community can decide what they want to try. But timing of this proposal i believe is not right. We should have to see the result what parity brings. I wish best things happen for LUNC.
Let CEX take decision that they want to implement or not. If they think their business gonna grow then their vision will help us simply. No trader gonna cry for 1.5% tax if they are making 20% to 50% profit in a trade.
Dapps wallet can be whitelisted. whomsoever want to build or want to help chain their wallets can be whitelisted. Then what is their worries? Where is the actual roadblock?
Requesting all readers to not misinterpret and start fighting. Biggest problem is “FIGHT” not “Exchange of INFORMATION and healthy discussion”. Biggest fuel we give to fudders and shorters only. That is not going to help LUNC for sure everyone knows that. So discuss for meaningful outcomes.
Thanking you for your time. Have a great day.
My prop is up for vote tomorrow. It’s the final day before the prop.
Please see my livestream 1h 13m long for a complete overview of the proposal, addressing criticism, voting schedule and implementation.
And remember when discussion moves to read-only here on agora, you can continue commenting on my proposal here: Final Vision Plan for LUNC to $1+ - Governance & Proposals - Terra Rebels Forums
They have been extremley against the idea.
I dont think binance would get onboard with this at all.
I thinm it would be better to focus on building and re implementing market swaps imo