Is it possible for you to explain it for everyone here how it works? A lot of people come here saying there is a burn and I think they need some good explanation.
Its not a burn.
When luna on bsc or eth chain gets ported to terra for example wluna gets destroyed(burnt) and luna gets minted supply remaons the same
Fantastic proposal, best option for moving forward!
Good Idea I will vote for this
Exactly! We need people with technical skills onboard. Does anyone wants to add some input on that front? Should we poke some twitter accounts? Some validstors and devs should have some interest in exploring the chain
It means we need devs who can write the code to do the burn… which means we need as a community to pay somebody. I made a thread about organizing to do it.
Remaining funds can be use to pay the devs + buy some supply and burn
Where did you see that all o see is him retweeting donkeycon
Yes but LFG has already committed to using funds for UST refunds. And either way we need devs, as it seems like TFL has moved on.
That was just what I was thinking, if they fork, we must have the new option, what’s the use? Developers, a governance, to implement this proposal and maybe even improve it
Who is paying/doing the fork etc?
We have to send the proposal to the main cypto news sites…
According to CMC we had $2,556,041,794 volume in the last 24 hrs. So divide that by the current price of $0.0001837. That gives us 13,914,217,713,663 coins that have traded hands. Multiply that by 3% (0.03). That’s 417,426,531,409 coins that would be burned daily with a 3% burn rate. That would burn 6 trillion coins in 14.37 days. Am I figuring something wrong?
devs dont want to code more in LUNA 1 because they got a promised to have more funds making a new coin, thats all
StakeBin say about democracy? and voting result. what they’re trying to say is that if enough votes are received, will Dokwon and the terra team implement it? @HelloThere
what do you think about that. they do voting for nothing?
Exactly if they can pay someone to fork…they can pay someone for burn
devs need to BELIVE in LUNA to work on it. Thats why they want t ofork because they believe that’s more profitable for themselves
You gotta account for raise in price because of burn but youre on the right track
14th-15th of May we made two screenshots of the total circulating supply of LUNA and it was as follows:
14th of May: 6,530,738,528,601.34556837840649078833
15th of May: 6,531,430,216,583.93566752035171389359
The difference between two is ≈ +691,687,982
Now, as of 17th of May the circulating supply is:
6,532,606,893,842.95887493102974241863
From 15th of May, the difference is: ≈ +1,176,677,259
If the numbers on the link by @saveterra: are correct then LUNA is still being minted in small portions.
No idea. But some validators are voting. If it was for nothing then why would they vote?