Please update. It is now 14 validators that have voted yes.
2 Likes
Why isnât this under Governance? The powers that be seem to have removed all gov. votes except Doâs âfinalâ one. No voting for the burn on there!
1 Like
If the only purpose now is burning, and not redistributing like in reflections, why not create a new chain keeping the shares allocated? 100% â 100% but reducing the supply?
Note that this is totally different from the initial fork idea in which the redistribution is totally altered as it is in the original chain.
This approach would be seamless and does not need special treatment from dexes.
1 Like
Absolutely Support the Burn and Remedy plan. Unfortunately I am a exchange holder of LUNA so I get no real say. But I have faith in the original token/project/developers and all, a fork or any new Token is a poor move IMO, what little faith (hope) remaining in the community, I am afraid will be lost after millions have been lost already, feels like total abandonment.
1 Like
Why does the vote for burning no longer appear on the governance page?
that a moderation be made on the governance proposals is one thing ⌠but to hide all the other proposals to highlight that of the Fork, this and totally contrary to the value of TERRA LUNA
Itâs SHAME, that manipulates the votesâŚ
4 Likes
Whatâs the point of still voting ?
LUNA/UST is over.
LUNA V2 Is a Sc4m V2.
Expect bankruptcy and Luna unlisted from everywhere
3 Likes
#burnluna trending
2 Likes
How the thing with validators are going?
1 Like
Burning Mechanism
Luna_buy_allowed = False
Luna_sell_allowed = False
if purchase_time_total_supply <= 400M:
countinue
elif purchase_time_total_supply <= 1B:
burn = Luna_bought_at_this_range_and_still_holding * 0.1
elif purchase_time_total_supply <= 3B:
burn = Luna_bought_at_this_range_and_still_holding * 0.2
elif purchase_time_total_supply <= 9B:
burn = Luna_bought_at_this_range_and_still_holding * 0.3
elif purchase_time_total_supply <= 27B:
burn = Luna_bought_at_this_range_and_still_holding * 0.4
elif purchase_time_total_supply <= 81B:
burn = Luna_bought_at_this_range_and_still_holding * 0.5
elif purchase_time_total_supply <= 343B:
burn = Luna_bought_at_this_range_and_still_holding * 0.6
elif purchase_time_total_supply <= 1T:
burn = Luna_bought_at_this_range_and_still_holding * 0.7
elif purchase_time_total_supply <= 3T:
burn = Luna_bought_at_this_range_and_still_holding * 0.8
else:
burn = Luna_bought_at_this_range_and_still_holding * 0.9
Need to adjust the price of Luna based on how much left
adjusted_price_after_burns = 1/remaining_Luna_percentage * Luna_price_before_burning
This is exit Liquidity for ALL Luna holders
Luna_buy_allowed = False
Luna_sell_allowed = True
while Terra_has_money and Kwon_has money:
Kwon_buys_Luna = True
Terra_buys_Luna = True
At this point entire Terra reserve used to buy Luna
if Terra_has_Luna:
burn = Terras_entire_Luna_portfolio * 1
elif Kwon_has_Luna:
burn = Kwons_entire_Luna_portfolio * 1
else: continue
Luna transaction continues
Luna_buy_allowed = True
Luna_sell_allowed = True
#This is not literal code but explains steps clearly imo
#Numbers are for example
#Change each Luna with UST for UST solution
#Could be detailed more to make more fair
#Current form would immediately burn ~ 5.5 Trillion Luna, ~ %85 of current supply
#Kwon and other responsible people are punished
#Remaining damage is shared between Luna holders
#Steps could be changed, for example Kwon buying luna can be done before Burning Mechanism but i think this way it is fairer. Wdyt?
#UST Luna relation fixed mean time and and no new minting is allowed.Ever.
While forking is a terrible idea only saving Kwon and his friends, burn tax has some issues as well. If there is a burning tax this means Luna price will only go up. This would discourage people to sell thus limiting burning capacity. Also people bought 1Bn Luna at 0.0001 would be extremely rich if price ever gets to $1, 0.1 or even 0.01. While i have nothing against people getting rich, this is at the expense of others. So my proposal is burning Luna at different levels. This way we can prevent new whales forming and Luna is hold evenlier and fairer by the people out there. Therefore creating more democratic place for community.
The idea is everyone gains(loses) the same proportion(numbers can be calculated for this). Only Terraâs reserves, Kwon and other responsible people are punished.
One possible problem is people âhidingâ Luna. Luna should be only listed in platforms agree to this. Luna on other platforms permanently deleted. This should be communicated properly so no new victims emerges. We need to reach every Luna holder before implementing this.
4 Likes
NOTICE
Donât spam validators mail. We need to reach them organic way and professional way. Else we will be seen as mob like SHIB community or DOGE
Just need to approach them in professional way to consider our proposal with all merits and demerits
Contact them in respectful and constructive way. Not in the end way we are begging.
Also in the proposal sections. Keep the tone in constructive way like how the proposal section in FatManâs is always constructive and not like Doge or Shib community.
It will work against us if such things goes on
We the proposal makers doesnât endorse this
4 Likes
The Burn, not fork, is what the people want.
Is this a democracy or an illusion of proper governance?!
1 Like
Dear voters. -dont forget to vote, and vote for the greater good.
1 Like
are you a dev ? can you code and implement code for burn ? we really need a new leader and a dev team for take control on luna v1 , after fork we need to live ourself , they will dont care about luna classic , most hold ust and luna cut loss here .
1 Like
Sounds good. You should explain this like the reader is 5 years old. Could you elaborate your idea with more details in a new proposal please?
1 Like
Os deseo lo mejor con esta propuesta. Deseo que sigĂĄis adelante con ella incluso si el token se empieza a llamar LUNC (Luna Classic), es una manera de demostrar que estĂĄis a favor de todos aquellos inversionistas que os apoyaron anteriormente. Un saludo y gracias por la propuesta
1 Like
1 day left to vote for this proposal, still a long way to go to reach quorum. At this rate, it wonât reach it unless the top validators vote. I feel like the fork is inevitable at this rate 
4 Likes
The vote is not so important, you can repeat the vote on the classic Terra after the fork Terra classic will be the revolution of the crypto world
1 Like
Is there actually going to still be any support for âTerra Classicâ (hate this name) after the fork? Who is going to implement any changes? Even if development continues, whatâs to stop the current insiders from just blocking everything with their massive voting power?
2 Likes
After the staking is live again, their voting power wonât be big anymore, there will be new validators. This proposal must be suggested for the Luna Classic again.
2 Likes
all the respect to them for trying to be fair even though there are rumors they were being forced to Vote YES to Do kwons proposal. Support their tweet https://twitter.com/Figment_io/status/1527698724490579969.
If this proposal goes up again after ending. We have a VERY GOOD chance of making it happen @HelloThere
1 Like