[Proposal] BURN and REMEDY fee with each LUNA transaction πŸ’Š [PART I]

" LUNA > number of UST" is not right. It needs to be >= because when LUNA value = UST value all of the LUNA belongs to UST and the network should immediately halt to liquidate value.

Right now many new investors, traders and newbies(even totally unaware of crypto) are investing in LUNA. If you let this vanish and build a copycat LUNA and UST by forking, it will face immediate dump and nobody will ever again trust Terra. But if you undo your mistake and save LUNA by creating a deflationary ecosystem you regain trust from all investors (old and new ones).
Dont try to invent anything new, just undo the hyperinflation while you have a chance. Because this hype is not going forever. Use it for all investors sake and accept this proposal. Not only its good for existing investors it will also attract too many new investors and your reputation will be recovered to where it has belonged once

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The de-pegging cannot be guaranteed but it definitely can be managed by putting in measures that ensure that the UST marketcap is always under Luna marketcap so that UST remains over-collateralised. (Note: All stablecoins have depegged at some point so I would argue its more about effective management rather than a guarantee)

What can be guaranteed though is that the death spiral caused by infinite minting of LUNA doesn’t happen again by ensuring that Luna is not minting when its marketcap falls below UST marketcap.

By fixing some systemic design issues and better risk management, both LUNA and UST can not only survive but also thrive!

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I believe in this idea. UST is not viable right now and all UST should be swapped for Luna in a 1:1 conversion. Once Luna is viable and the burn is complete, UST can be reintroduced as a choice for Luna holders to convert into UST at a 10-1 ratio. We’re 10 Luna is converted into 1 UST. UST Obfuscates the healing and resurrection and should not be part of the first step. You can take a real options approach with UST. As Luna hits certain stages conversion will be allowed at certain rates, fees and taxes. In three months there should be a very low supply of UST with the focus on rebuilding Luna and burning the inflationary supply. UST will be built on Luna’s strength and the foundation meeting certain protective expectations and reserves.

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In other news, we already have 4 validators backing this proposal :raised_hands: :rocket:

Hoping more will follow.

@SmartStake what do you think of this proposal? Would love to get your thoughts on this!

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You could convert all UST to LUNA holders 1:1 and it is the right of the UST holders to want this. You are turning them into securities holders which they did not want. Just remember, in doing this all the existing LUNA holders are basically diluted to oblivion, just as you would in a Ch. 11 bankruptcy proceeding.

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Could it be worth to add this post link to the proposal description in terra station? @HelloThere

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4 validator already said YES! LFGHHHH…no bailouts for poor risk management or forks. Learn from it and improve.

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Hello dfunk. What is the number of validators we need to launch this idea? The clock is ticking and suicides of small holders must be avoided

Nice! Hopefully this passes soon

4 validators and 4.35% of voting power supporting this proposal.

By far the most supported one among other proposals.

Keep fighting!

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I like this proposal since it does not fork the chain.
All forking to me means the project is gone. Even though people lost a ton of money a ton of people supported and bought even after depeg so we cant ignore the fact there are many people holding the coin and keep buying even now at exchanges.
Burning and slowly regain is the way to go.
Hell even if there is money in the reserve just buy the dip and burn.

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Burn is the solution.

Check yourself:

Top 27 addresses with more than 880 billions tokens, with 26 addresses with same exact 31.964613 Billion Luna tokens to the last decimal point each…not a coincidence.

These are all new token minted by Terra/Luna probably still owned by Terra/Luna that could be easily burned

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Kind of worrying that none of the validators of Terra team very quick to action we need this implemented as soon as possible to get the tokens back on track

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Wouldn’t this require global tokenomics ? I have seen the coin with this kind of tokenomics very hard to make their way to CEXs. I mean the model is a great model but I don’t think Binance, etc can support it without development and that could move the timeline 6 months in the future just to start. Am I missing something ?

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I’m Lead to believe that the tokenomics in question was designed by Binance for Safemoon so if they have the design it should take that long to implement Also CZ supports the burn so he would probably help fast track it to help the community

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  1. How would that be implemented on exchange (CEXs) like binance, kucoin,etc?

Answer 1 β†’ [Proposal] BURN and REMEDY fee with each LUNA transaction :pill: - #89 by dfunk

Answer 2 β†’ [Proposal] BURN and REMEDY fee with each LUNA transaction :pill: - #93 by David_Wedlock

Answer 3 β†’ [Proposal] BURN and REMEDY fee with each LUNA transaction :pill: - #94 by Jishnu_saini

We need more validators to vote, so far 4 have voted yes.

This will be the only way for Luna to make a comeback.

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this idea is great.

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Clearly best proporsal shared. That’s the only way to revive Luna , Terra and saving everyone. I dont know if selfish Kwon would agree to this because they just trying to exit-scam. I hope community push them in this way.

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