I know Cryptocom is struggling with their own debit/credit cards. I don’t know much about chai, but will look at it more closley.
The issue with crypto payments is the fees when converting crypto to fiat. Even though you earn rewards you are still paying a premium on the initial conversion when loading your card. This is my experience with CRO cards.
I would need to take time and map it out and discuss with the right people. I believe it can be done, and using stablecoin(s) paired with LUNA (Classic), and working with the banks directly could work. They would need to be willing to do this which IS the main hurdle to achieve this goal. Another option is Square Payments. They want to get into the crypto payment game, but BTC & ETH transaction fees are inhibitive. Tron is also working on this I believe.
I would love to successfully crack this and be successful but that will have to happen only after the ecosystem is stabilized.
To repeg UST we need to burn UST first to bring supply to 1 billion close to it’s marketcap or 1 billion
Then burn luna to get UST in return of burning luna
You have completly no understanding of current market situation.
You wanna talk with banks ?You are aware the monetary system is moving away from banks to central banks and they definetly won’t talk to you.
About the other topics i better keep my mouth shut.
Anybody looking for such a “leader” in a decentralized project can already sell their tokens for ZERO
I think you need to be more TRASPARENT. This gonna sound like a job interview, but, in my opinion, you should answer these questions before bidding for leadership.
Who are you? Properly present yourself. Put a link to your Linkedin, webpage, and other social media.
Why should you be the leader?
What is your plan?/What are you doing? And no, a simple post will not cut it… We need documents, reports, simulations, and updates. Don’t be another Don Kwon. Keep an open and frequent communication. Show us what you are working on.
Lastly, I think you should be more humble. It is ok to not have all the answers. Just say “I don’t know”. But don’t dismiss other people’s concerns. 10k bitcoin in the current bear market is pretty much a possibility. Saying it won’t happen or if it does we are all doomed anyway sounds just like Don Kwon. We need a plan for the worst-case scenario.
I’m not planning on talking to banks about financing at all. That conversation will be had with the companies already in the crypto space including CEX’s and large investors. The only conversation I would need to have with a bank is for fiat based accounts, assets and or future credit/debit card system.
I have been working on a full update including a bit about myself which I finally got to post. Hoping it does address some of your points.
I would never dismiss the possibility of BTC dropping to $10k or less at all. My point was it’s not very likley, as the BIG investors will do everything in their power to prevent that. I will still do everything in my power to brace for such an event. I’m building for long term.
My other point was that if it DOES happen, what damage it WILL do. Which is accurate. If BTC hits $10k or less, it will destroy the markets (crypto & Stock) was my point. So a stable coin backed by crypto vs USD would really be irrelevant at that point as even USD stablecoins would collapse due to a major panic run. This would also spill into the real world. The Lehman Brothers event would pale in comparison to this recession triggaring event
By calling it a doomsday prediction, I’m just labeling it what it is, not dismissing it.
If you look at my plan it does lay out a plan to hedge the crypto assets in market downturns to prevent severe declines.
This plan seems to be workable. A recovery has to happen in some form for ust and Luna holders as many folks are days away from what I feel might be choices of desperation or survival.
This proposal needs a tweak, there won’t be any UST victim according to Do Kwon, he will compensate with direct funding from reserves. So I think, UST should be forgotten and focus on the decoupled Luna Classic.
Good to have someone taking the challenge of leading the revival of LUNA Classic and UST. I wish you all the best in this endeavor. Won’t be easy, but I see clearly, that you are ready for the challenge. And that’s a great thing.