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.
1 Like
@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.
4 Likes
And delisi,delete lunc convert liquidity to luna fixed this
No with veto
3 Likes
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
5 Likes
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.
You continue to misunderstand and be confused.
Keep USTC & LUNC in a stable state and dependent on each other while each has it’s unique utility:
https://classic-agora.terra.money/t/the-gold-standard-of-stability/47101/8
Check their last statement
No RePeg, No IBC, No Stablecoins anymore Remove and Secure the Stablecoin Terra Market Swap - #60 by vedova 
We need an actual ‘stablecoin’ ~ that’s STABLE.
People want money they can actually use and save without losing value.
Of course, risk of loss always exists, that shouldn’t stop us from trying though!
1 Like
Those exchanges likely believed it was stable…
It would be nearly impossible to implement this. I think buying back USTC on chain using a community pool spend proposal, then selling it back to onchain holders at a discount is a more interesting route to follow
No ustc so what’s the difference between lunc and luna2.0, fewer developers?