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 āBoardā 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 āPoison Pillā I mentioned.
There are also a few other pieces to add.
1 Like
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
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
ā¢ 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.
ā¢ 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.
ā¢ 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.
4 Likes
Hello everyone,
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.
1 Like
You want to spend other peopleās money 
Take it and implement it, buy everything and show everyone what you burned
Non-Profit organisation structure ideas would be great. But itās 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.
1 Like
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
1 Like