LUNC recovery plan by a Tax + Burn mechanism with each transaction

Summary
The community wants a Tax + Burn mechanism with each transaction to reduce the total supply of LUNC. This can be done by a deflationary burn mechanism which can be easily put into place by adding a tax.
The mechanism must be appropriate with low tax rate to encourage trading and doesn’t lead to non-trading of LUNC. The mechanism must have limits to ensure that infinite burning doesn’t occur.

Motivation
To help the holders of LUNC, to get some of their investment back.

Proposal
We’re proposing a Tax & Burn mechanism to be implemented on LUNC to reduce the Total Supply.
Before starting to implement this mechanism, the following must be done once and for all:
1- Removing the link between LUNC and any other token.
2- Removing the minting ability on LUNC.

After that, we propose implement a Tax + Burn mechanism on each buy and sell transaction, we propose (1% burn tax if the total supply is greater than or equal to 100B), (0.5% burn tax if the total supply is less than 100B and greater than 10B), (0.1% burn tax if the total supply is less than or equal to 10B).
Finally, this mechanism should be enabled until the total supply is less than or equal to 500 Million LUNC, after that, this mechanism is permanently disabled and the total supply can never be changed again.

The following official address from Do Kwon is used for burning:
terra1sk06e3dyexuq4shw77y3dsv480xv42mq73anxu

7 Likes

An interesting proposal. And I agree with it. But how do you plan to implement such a division of tax rates in practice?

2 Likes

Vote Now :white_check_mark:
This account in twitter explain How you able to vote for this proposal :point_down:

@ SaSa43858004

1 Like

You can vote for this proposal #3566 : Terra Station

2 Likes

You can vote for this proposal #3566 :
Link:
Terra Station

These proposals cannot be passed without the governance pledge being open.

1 Like

Excellent plan. Go for it

You can vote for this proposal #3566 :
Link:
Terra Station

Pls send to validators since they dont see forum , and try to get it whitelisted by mods

3 Likes

do just like the Orion money validator, I asked your community if you want them to vote yes on proposal 3568 to burn luna.

What do you have to lose, you already have luna v2 let us try to save luna v1 everything we ask for.

Terra Station a