Terraswap to be set as mechanism to remove supply of other similar currencies like GBTC, EUTC, KRTC, …
you will be only able to swap them for USTC and their supply to be burned after swap
to handle this swaps to be used oracle pool reward wallet or switch on mint ability of ustc for this case ( it will not take presure on market, because it is still supply of USTC in fact)
Community pool´s USTC to be swapped for LUNC. Repeat every set time period like 14 days. No voting needed.
If there is minimal supply of USTC similar coins at the station then community pool´s LUNC to be sent to oracle pool reward wallet.
Prevent LUNC to be swapped for USTC. But you could still swap USTC for LUNC. (this is why community pool´s LUNC is needed.)
OR keep ability of LUNC to be swapped for USTC but set it´s price swap (pretent it´s already pegged, in this way)
Every USTC swapped for LUNC to be BURNED until USTC = 1 USD
@jetam It would be great if there is some way to burn high volume of LUNC, USTC, … But i am as person not sure what wallets do you mean? There are many that are used to provide swaps etc. Could you reply with list of them? Also somebody maybe could check them if it´s not oracle pool wallet etc. maybe they are d e a d wallets really don´t know.
I think it is not a way if they don´t agree.
Why? Because when there is some voting about it, they could simply sell them on DEX and recreate many new wallets etc.
Only way would be hard fork. I don´t think somebody would like it and it would say to investors something like if we don´t like you, we will burn your money cheers Please don´t.
Can we somehow burn that wallet without LFG doing it? I know we won’t be able to get back other funds but if TR can do something about mentioned funds that would be great for start. Especially for restoring peg back since that would burn like 20% of ustc supply.
If they decide to sell before burn. Ok… at least we will know they won’t be able to profit much on those funds. Because if ustc gets back to 0.5$ they would get almost 1b$ for their fork project. Not sure if we want that?
@jetam I don´t have direct link to TR and as you can see they ignore me so you can try your luck by yourself. I gave you wallet address now it´s up to TR, because they are getting full code access in 1 hour officially.
If you can convince the average logical and simple person with hard, unquestionable evidence they can understand and have verified by every expert they consult ~ all is good… if not, it’ll just be looking like another negative scheme.
Let’s move forward with extreme caution as the last attackers are still lurking and possibly in our community. Cover all angles and question everything, always, until you understand the details of the possibilities.
If we want to become an acceptable currency ~ we’ll have to be as solid and stable as good.
In theory it is possible, but reality is something else. When 1 CEX supports burn tax, then other CEX should act as griefer just for their own profit. No. Also this is not needed.
Burn tax is supportive actor in this plan. Because when PEG is restored there is still 1,2 % burn tax that supports peg stability. And it is not needed to be used in CEX´s at all, but every help counts right?
You mean this being a scenario in a CEX? AFAIK, in a CEX, every buy is a sell and every sell is a buy. So if someone gave 1000 LUNC and received 0.3$, then the other user in the transaction gave 0.3$ and received 1000 LUNC (this assumes 0 trading fees…). The only way to burn those 1000 LUNC is if the user who is the LUNC buyer intentionally spends 0.3$ for the purpose of burning.
What did Lavoisier say again…“nothing is lost, nothing is created, everything is transformed” (or changes hands lol)
It´s funny right? Even there is so easy way to steal from people on Terra Classic you are going to do it so visible I have just seen scene from South Park in my head. We are sending 1,6 mil. USTC to the trust. Aaaaand it´s gone. LoL
Please don´t.
