[Proposal] BURN and REMEDY fee with each LUNA transaction 💊 [PART I]

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

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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.

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Remaining funds can be use to pay the devs + buy some supply and burn

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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?

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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?

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Exactly if they can pay someone to fork…they can pay someone for burn

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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.

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No idea. But some validators are voting. If it was for nothing then why would they vote?