The approval of this proposal is necessary. It will reduce the circulating supply of UST. Increased LUNA 2 airdrop rate for existing UST holders
3 Likes
Expiring soon. Vote now.
3 Likes
But it may very well mess with original Terra chain and community plans to operate it. For instance the 11 Point Confidence Restoration Plan proposal has plans for minted UST supply, recommended reading the OP, this is a recent quote from the OP author in the discussion, where he is repkying regarding LFG’s UST but I believe the community pool is important too. They ARE community funds, as diminished as they are burning them leaves the community with much less to work with. Managing to raise UST value and not having those funds would really hurt in such a future.
1 Like
Just voted,
1 Like
How about proposal instead to not include community pool funds in airdrop allocations for Terra V2, rather than burning the commity pool?
Also, perhaps better split into two proposals: one regarding community pools, another proposal regarding cross chain liquidity.
Possible some in original chain OK with cross chain liquidity pulled out any which way but keep community pool UST… Or some think the other way burn community keep cross chain LPs. Anyway the what and how community pool and cross chain LPs may have different affects from one another and ways to approach.
Yes. And 1 time this is already passed.
2 Likes
UST is debt obligation. Burning it thereby reducing the outstanding debt naturally raises value for existing holders.
1 Like
related:
8/ TFL’s wallet (terra1dp0taj85ruc299rkdvzp4z5pfg6z6swaed74e6), LFG’s wallet (terra1gr0xesnseevzt3h4nxr64sh5gk4dwrwgszx3nw) and the distribution module where the Community Pool lives (terra1jv65s3grqf6v6jl3dp4t6c9t9rk99cd8pm7utl) will be removed in the airdrop whitelist.
Maybe would be even better use the UST to buy Luna and then Burn all the luna Bought.
3 Likes
First it’s not debt if you are the debt holder, but UST is considered a liabilty (Not a debt), which makes those community funds an asset. This asset could be used to pay back old holders and debt obligations if UST. If UST can repeg that would mean $1.3 Billion can go to recovery instead of well nothing.
Burning that UST would be a short sighted solution that would be regretted later on. Imo.
2 Likes
yes，。。。。
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Burning those UST is a way of compensating the debt holders by reducing the supply of debt. At this point, thinking that UST will be magically repeging one day is just delusional.
4 Likes
I swapped luna for ust today. What happens to my ust after the v2 airdrop? Will they burn my ust ? Or i can swap them to lunaC again? Pardon my ign
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hello sir $ust, will we have a problem if I keep it in the stock market?
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Only 20 hours left, and only .04% to reach quorum and pass this … it will be interesting to see the price action as the expiry of the vote coincides with around the snapshot time for Luna v2 …
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Will this burn happen prior to the snapshot? I noticed the vote is due to complete 1 minute prior to the snapshot. Will make a big difference in LUNA 2.0 allocation terms yeh? Like 11% more?
Let’s Vote !
Just passed!
5 Likes
when 11% of UST will be burnt?
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Is current UST going to have value after genesis chain is created? It’s still going to be part of classic Terra, right?
1 Like