We need to focus on the bigger picture here. Not just add one feature at a time. For that reason I will be updating with a roadmap and new details as we move forward to building a plan of rebuilding both LUNC & USTC. I am holding discussions with some very talented people and hope to continue meeting more of you.
If you would like to be a part of this rebirth please message me here or join my Discord. I will be updating both here and there as well as on my Twitter.
Discord - LUNA Classic & UST Revival plans
Why don’t you fly to Singapore and try to find a kwon? You are the hero of Terra in all topics
Singapore does have great Tax laws that would benifit me lol. Don’t know how you think the conversation would go if I ran into Do Kwon there but I don’t think he would appreciate bumping into me lol.
Now how would ya’ll feel about a (temporary until LUNC is stabilized) staking plan as follows?
Maximum staking amount based on a percentage of total supply?
Time limits on staked tokens, to allow a rotation so others can have their turn in staking?
Control percentages. Validators voting rights to be capped at XX%
Increasing number of validators
Let’s discuss this and other ideas on how can we restart staking.
Why can’t some VC or whale just buy all LUNC and USTC now when the market is down?
One need around 400m to buy back all the coins from market. Investor can then burn all LUNC leavin 200m tokens and maybe burn USTC leaving 1b and then slowly let the price go up once LUNA crosses $1 the investor can do mint & burn to exit USTC slowly.
He/She can hold the supply of LUNC as anyway new supply for LUNC will hit market on minting. Once 400m investment is recovered anything on top is profit.
That investors bydefault will be in the leadership role.
I have updated to clarify a number misunderstBdings regarding future LUNC leadership. I wanted to update sooner but as it was up for vote ethically I could not change it.
To clarify what I am proposing for LUNC
• 1. LUNC will be a Decentralized Community Run Token (DCR). The WAY it was supposed to be. Newco will not own this token, the community will. Our role will be more like a partnership or stewardship. By running day to day business like dealing with exchanges, 3RD party developers etc, and by providing development and maintenance, setting basic parameters to maintain stability. Beyond that we will only benifit from a partnership standpoint, and as a token owner just like ever other holder. That said, we will have a mechanism in place, like a poison pill, to prevent any third party from gaining control of, or making dangerous changes. This WILL not be used unless necessary. There could also be consequences for those individuals who purposely do harm to the token, chain, and or even ecosystem. We WILL not allow any attack on the system.
Please feel free to read the road map above as it has a lot of updates.
This project has value, only for hamsters As a shiba, would you like to invest money knowing that you will act as output liquidity?) There are many other projects where the economy is normal and healthy. Lunc will be interested in buying starting at 0.00000090. That’s when the whales will come, but for now you just have to wait
We will never get to 6 0’s lol. If that happens theres no coming back.
Come on, what’s the difference how much you burn LUNA to get 1 buck? Self-deception is another matter A stablecoin can be a stablecoin with 0.00000090 per hole
A better solution would be an elected council with term limits and the ability to revoke their status should they not follow through with what is best for the LUNC community.
Take part in the LUNC update
That was part of the plan. I am still working on the roadmap. It will be updated soon.
I had taken a page out of the corporate structure and instituted a “Board” it would consist of elected officials as well as certain appointed ones that say are heavily invested in financially. This could be part of that “Poison Pill” I mentioned.
There are also a few other pieces to add.
I fully support you. You are truly an outstanding leader, and we need a leader, a board to lead and make important decisions for the LUNC community.
As I cannot edit the origional post this is the update to the relationship I am proposing to clarify it better.
LUNC & USTC Rebuild Road Map Proposal
A. Team Leadership removal, Non Profit, Board, Newco, & Governance.
B. Implement transaction tax of 1.2% on both LUNC & USTC
C. Re-Enable Staking.
D. Algorithmic USTC
E. Future Growth
F. Future uses
G. New Tokens & Stablecoins
H. Public Relations, Marketing & Advertising
I. Team Members
• LUNC (Non Profit Co.) Not yet named, will take over the operations of LUNC. LUNC will become a Decentralized Community Run Token (DCRT). The WAY it was supposed to be. A dev team will be assigned on implementing everything contained in this proposal, as well as others presented by the community. No team member or other entity, will have control over LUNC as it will be left in the hands of the community.
• Further there will be a board overseeing LUNC, consisting of members of the community who have shown a passion for rebuilding LUNC & who have worked hard in helping rebuild it. These are positions that will be voted on by the community. The main purpose of the board would be to help prevent governance attacks (by implementing a poison pill on dangerous proposals), working with Newco (See role below), on day to day operations.
NEWCO, (not yet named), will take over the operations of USTC, & the Ecosystem (Changed from Terra). NEWCO will work with the LUNC Non Profit Group, in partnership only. Helping to oversee the LUNC rebuild & development project laid out in this proposal, as well as others presented by the community, BUT allowing LUNC to remain community run.
• Newco will not own, or otherwise lead LUNC. The community will. Beyond the rebuild project, our role will become more of a partnership or a stewardship role. NEWCO will act on behalf and at the will of the community of LUNC to further build, market, and provide day to day operations. These could include working with exchanges, 3RD party developers, as well as providing future development, maintenance providing stability, under a partnership arrangement that benifits both parties.
Could you please explain it to me why it is so difficult to get together 100 individuals or so, buy 99% of all ustc which is like 85m$ slowly, burn it, get rid of lunc, mint luna2 and distribute to everyone who had luna before may 7th plus 1 million luna2 for 100 individuals each.
Then what happens?
1)We are left with reserves big enough to collateralize ustc
2)luna classic can go on as enabling chain for decentralized OVERCOLLATERILIZED stables
3)very sensible luna2 supply (less than luna today; liquid circulating supply before the crash around 170m + 100m for saviors)
Why would 100 individuals do it?
it costs them only 850k (easy to find 100 individuals with the level of risk appetite mentioned in this comment in the crypto industry no?)
they have 1 million luna2 each
3)known ecosystem that survived a big crash, managed to erase its debt
4)all the prior advantages of luna before the crush plus overcollaterilized algo stables plus way more decentralized chain
5)possibility of making immense amount of profit. as the supply will be back to what it was (actually total supply will be even less as tfl holdings are now excluded), even 90% decrease from ATH luna price would mean 1000% profit for the saviors
What happens then?
Mainly we will concentrate on building and only allow minting stables as long as real use cases appear and we can back it with collateral. Anchor continues as well for the remaining stables and same mechanics just that interest rate is determined by what staking from collaterals allows.
I know there are many things to discuss but i think it is possible to revive lunc and rise stronger from this following this type of framework.
You want to spend other people’s money Take it and implement it, buy everything and show everyone what you burned
Non-Profit organisation structure ideas would be great. But it’s required a organisational structure road map, what you are currently preparing. ASAP we need to declare official spokesman (which is ment to be you). One more thing, is it possible to add a phrase in your title of the proposal concerning burning issue. It will be more easier to reach community.
Another thing: is it technically possible to make it as a parameter change proposal.
Non profit might be difficult if not impossible in the traditional structure at least. We need to find a decentralized way to do it.
Road map is continually being updated however I am going to have to open a new thread as editing is disabled on this topic currently.
No leader of LUNC. It will be community driven. There will be a team or group that needs to be appointed by, and works on behalf of the community to communicate directly with those entities.
This road map will not be a param change however individual components within can be separately put to param change votes. This is the direction I am taking with the road map.
Sorry guys had to create a new and fresh post for this roadmap. This is no longer an editable post. I look forward to discussions on this and other related topics and ideas on the new thread. Together we can rebuild.
New post here New LUNC & USTC Rebuild Road Map Proposal