I know Luna doesn’t have much at the moment to incentivize anyone to do anything for its token.
But the future of Luna still looks bright and if selling a piece of that future is doable we should try and bringing back the Luna price to a 1$ at least.
This should be doable if every exchange gets involved and BURN $LUNA and at the current prices it won’t cost much.
7 Likes
6.5 trilyon luna jeton ;::: 887 milyon $
The thing though is that the $LUNA exchanges hold are their clients’, not their own, no?
Probably not easy to incentivize them to burn their clients’ money is my opinion.
2 Likes
fees…
Yes of course, please read my proposal…
The burn mechanisms are fine. However, what is the initiative to burn?
I am proposing a locking mechanism where people can lock their Luna coins. The locking mechanism comes with a fee. One percent of the fee is burned, other percent is shared with a community of people who also locked their coins. When locked, you get a number of coins that are pegged to Luna, and that you can exchange back to Luna (unlock) whenever you want. You can NEVER get more coins the next time you lock Luna. This way, you are deflating Luna, burning Luna, and pegging it to a coin whose price is constantly rising in respect to luna. Also you are EARNING Luna too! It is not a security, because it is not pegged to stable currencies.
Read more about it here and how it is done:
reddit DOT com/r/terraluna/comments/usu7v0/here_is_a_luna_solution_that_nobody_has_considered/
and here is the proof of a concept built on Ethereum, with a white-paper:
github DOT com/olejardamir/Hertz
Mechanism WORKS, and is a valid solution to a current problem. It goes along any burning mechanism that you propose, and it gives people a reason to purchase and burn Luna!