What’s the actual feasibility of a Luna burn? Is this something that is possible using the existing blockchain? Personally I think this is the most logical strategy but I’d love to hear how technically feasible it actually is. Based on a capped supply, supply and demand economics why is this not the go to option?
I’m sure it’s been discussed but I’d like to start a healthy debate on the the feasibility of the proposition.
A burn is collected as network tax when you perform an exchange. You buy LUNAs or trade LUNAs, you burn a few LUNAs. High frequency LUNA trades would then be eliminated from the system. Burning LUNAs is part of the solution. The depeg issue is still there in the new fork. The team has not actually acknowledged they have a problem. All they have done with the TBA is rebrand and suggest redistributing the debts and ownerships against debtees’ rights after TFL defaulted on its obligation.
There are more options for burning. We can check what is Do Kwon’s address, his team’s address and the address of the validators that voted in favor of the [email protected] fork. Then we can fork to a new Luna where everyone gets 1 new Luna for each Luna they have with exception of Kwon, his team and his validators that harmed the community. We confiscate their coins and burn them. That’s going to be a huge burn.
I’m unsure about this, we’ve had open support for the burn from cz, if they agreed to incorporate a burn fee to transactions sending some to the null address surely with the volume trading through binance alone would make a significant impact? This would add pressure on other exchanges to follow suit in my opinion. Maybe that’s an unrealistic expectation, I don’t know but I do feel like the pressure from the community as a whole may make an impact