Ok so I have spent this weekend reading alot of proposals on here and different forums here’s my thoughts and I would like to hear feedback from everyone.
The ust groups and luna groups are very split on the recovery everyone is fighting for themselves to get recovery and I get that I’m down too in this whole mess but I think there’s a sensible solution to this all I have seen ideas of burns and taxes to bail outs for both sides and varying percentage rates.
Here’s what I propose a 2-3% tax on transactions both buy and sell for both ust and luna with 1% being burned while the other 1-2% is sent to a pool to be sold and turned into other crypto that is stable such as Ethereum and Bitcoin and part usd to build up a reserve supply of capital to sustain a buffer.
- This does several things it encourages traders to hold longer cause the fees would require more then a 4-6% gain to make profit till burn rates have reduced tokens back down to a reasonable level 1-3 billion on both and it encourages those that are big and small to continue to trade it cause the more it’s traded the more that’s burned creating value for long and short investments. Also once coins are at desired level burn is turned into the asset pull till amount of new coins is above say 3 billion is they want to stay below that margin
- this rebuilds the trust in the systems and community and in the crypto platforms such as binance Coinbase ECT. That have said they would support the recovery of Luna and just but burns are needed. This is not a fast recovery but one that will gradually pay off to everyone those that are big and small investors to those that are in at $100 can buy as prices recover and average down to the ones buying here at the bottom to help keep this project alive
- As the asset pool reaches certain goals say every 50 million or so those assets can then open more just available to the market to buy cause there’s assets to back it but would also lock the increases to max 50% of available assets to prevent attacks like this from happening again
- I would want to see from terra a biweekly report on the burn rates of both any increases to supply and what is currently in the asset pool as transparency and clarity of the company’s actions with the funds we are all investing in them
- Bail out of just ust or just Luna I don’t feel will work I think maybe a 500 million buy back of each would be appropriate along with starting the tax rate at the same time would go a long way to start to restore the name and confidence and get everyone excited to trade this again
Let me know what your thoughts are but I feel this is a fair solution to both sides with gradual recovery and trust rebuilding from all angles