My proposed way to restore peg at the end.
- 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
Can we please get some info what is happening with ustc and other funds that LFG is holding?
Is there a way to get those funds? And use it in future for repeg.
Is there a way to burn that amount even if LFG doesn’t agree?
@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.
Those are the funds they hold. Is it possible to find the wallets of ustc/lunc and burn them? I assume they will never simply give those funds.
If they sell before… ok. At least they won’t profit if price ever recovers.
@jetam BTC wallet bc1q9d4ywgfnd8h43da5tpcxcn6ajv590cg6d3tg6axemvljvt2k76zs50tv4q
BNB LFG presentation wallet 0x36236fa003Ac2E5371E3264276f82D355180a102
- there is situation more difficult, but seems like correct balance presentation wallet.
AVAX LFG wallet 0x46F9dC7492A0164Eb920eE07979EBbc08a949cE5
- this is wallet used for this graph and it holds this volume of avax
LUNC AND USTC LFG wallet terra1gr0xesnseevzt3h4nxr64sh5gk4dwrwgszx3nw
As you can see, only way is TFL make something with it. Because there is only 1 wallet on chain that could by affected by us. Cheers.
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.
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NOTE: TFL on chain wallet address terra1dp0taj85ruc299rkdvzp4z5pfg6z6swaed74e6
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.
Is it possible to make every time Lunc or Ustc is traded or sold, they burn immediately?
In this way the users would not lose, since they are only exchanging or selling their Lunc or Ustc in exchange for any other currency.
1000 Lunc To Busd
1000 Lunc x 0.00030$ = 0.3$ Busd
the user receives his 0.03$ Busd, but those 1,000 Lunc are burned.
Is this possible? And what would be its cons?
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)
Just top 5 real rich list wallets. Masked by finder and total supply command.
Server command MSGsend will be accepted for this wallets even they don´t have enough LUNC shown in finder until volume as shown in list.
Doing the same thing and expecting different results?