Proposal #4510 - Convert all USTC into LUNC draining all liquidity into LUNC, and de-list USTC

No.

This is what happens when people come in acting like everyone is inferior and stupid.

Vedova, get significantly better at deception or quit, because you’re not very good at it.

@vedova, you clearly show a poor understanding of our current situation, and several other concepts:

  • there isn’t a pair between Luna2 and wrapped-stablecoins
  • the price of Lunc is not divided by USTC
  • you can’t “deIist” USTC from the Terra blockchain
  • governments are NOT requiring escrow and hedging for all stablecoins

Also:
WHO is going to buyback USTC?

For me, this is a NO WITH VETO. The premise that USTC is the problem is unsubstantiated, and the supporting reasoning makes no sense whatsoever.

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And delisi,delete lunc convert liquidity to luna fixed this

No with veto

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This “legislation” is just a draft that could be voted on soon. This is not the final version. And the US will probably not ban any algo stablecoin. What was stated by Bloomberg was:

Under the latest version of the bill, it would be illegal to issue or create new “endogenously collateralized stablecoins,” according to a copy obtained by Bloomberg. The definition would kick in for stablecoins marketed as being able to be converted, redeemed or repurchased for a fixed amount of monetary value, and that rely solely on the value of another digital asset from the same creator to maintain their fixed price.

This explanation is so vague that this bill is almost meaningless… If USTC is not “marketed” as an algo stablecoin, would this bill apply to it? If USTC relies on two assets (Luna and BTC, for example), would this bill still apply? If it can be proven that Lunc and USTC have different “creators”, would this bill still apply?

And this has absolutely nothing to do with your proposal. Still NO WITH VETO

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You can’t do this, It will harm the value of the terra classic chain, people impress terra classic because ust is the best algorithmic stablecoin people want to see its recovery.

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You continue to misunderstand and be confused.

Here is how we move forward and avoid any possible government regulation: