Before:
{“denom”:“uusd”,“amount”:“1017233195481997.327586964426198541”}
After:
{“denom”:“uusd”,“amount”:“1006733195576244.719897154611542779”}
https:// lcd.terra.dev/distribution/community_pool?height=7790000
Difference: 10499999905752.60768981
Looks like the burn in-fact did occur.
However, currently shows :
{“denom”:“uusd”,“amount”:“1578664.585408485942653148”}
https:// lcd.terra.dev/distribution/community_pool?height=7795578
Seems there was no incoming tx to the burn address, at least according to Terra Finder…
terra1sk06e3dyexuq4shw77y3dsv480xv42mq73anxu
I am a developer myself (not crypto though) so I am curious what could be the reason for that. Any ideas?
I have been checking as well to see if burn occurred via
terra1sk06e3dyexuq4shw77y3dsv480xv42mq73anxu
The address that was listed in the documentation, but nothing showed up. Very confusing to know whether burn actually occurred or not. (My feeling is no - even if funds were removed from community pool).
Also I would expect there to be a twitter announcement by Terra Labs if indeed it was done (would be surprised if they didn’t, since they did announcement proposal vote - why wouldn’t they also follow through??).
I don’t believe the coinmarketcap charts are accurate in any way, seems some weird glitch… was looking at 2 exchanges at the very time that occurred and there was no sudden price hike upwards on either.
Would be happy to be corrected on this if I am wrong.
Would be really great to have some clarity on this.
yep super weird, something ain’t right. even the circulating supply no change at all
there is spike price after the proposal vote ended on UST coinmarketcap page it reach to $0.5, but on cex and dex it’s not. either cmc glitch bug or there is conspiracy going on lol
https://lcd.terra.dev/cosmos/gov/v1beta1/proposals/1747
“title”: “Burn The Remaining UST in the Community Pool + Cross-Chain Liquidity Incentive UST 2”,
“description”: “Previous proposal tried to withdraw more from the community pool than was available and hence the execution failed. \nhttps://classic-agora.terra.money/t/burn-the-remaining-ust-in-the-community-pool-cross-chain-liquidity-incentive-ust/6837”,
“recipient”: “terra1sk06e3dyexuq4shw77y3dsv480xv42mq73anxu”,
“amount”: [
{
“denom”: “uusd”,
“amount”: “1006733194000000”
[…]
“voting_end_time”: “2022-05-26T19:58:17.280348372Z”
According to this proposal that passed. We should see a transaction with a burn amount of 1006733194000000 on or about “voting_end_time”: "2022-05-26T19:58:17.280348372Z"
It should’ve happened in a transaction on this block which coincides with the voting_end_time timestamp:
https://finder.terra.money/mainnet/blocks/7791896
You can also see the change in the community pool’s UST balance between these two blocks:
https://lcd.terra.dev/distribution/community_pool?height=7791896
https://lcd.terra.dev/distribution/community_pool?height=7791895
I’ve tried searching through the tranasactions in these two blocks to find the amount that transferred from the pool in the amount of: 1006733194000000 but couldn’t find it. (maybe I missed it), hopefully someone can check it as well.
Also confirming with @bkoenig and @Juhe there’s no burn transaction for this proposal:
So there is definitely something unusual going on.
It would help to know the community pool’s address if someone could post it ?
nothing happening, no large UST transaction in the burn wallet
https://finder.terra.money/mainnet/address/terra1sk06e3dyexuq4shw77y3dsv480xv42mq73anxu
Enable staking again, give controll to the luna classic holders
Voting link:
Very strange… The burned UST doesn’t show on the burning adress
terra1sk06e3dyexuq4shw77y3dsv480xv42mq73anxu
Nor we see any visible jump in the charts.
its weird
it is not in community pool anymore https://lcd.terra.dev/distribution/community_pool, which means it was burned.
here is community pool yesterday https://lcd.terra.dev/distribution/community_pool?height=7790000
Wothout burn transaction is only proof it is not in the wallet and not proof where it is/what happened to it I believe is what people are pointing out.
Are there any transactions? I haven’t found any.
Shouldn’t there be incoming tx on the burn address?
Or maybe there is and the terra finder / bitquery just doesn’t show it?
Is the deduction and the transaction an atomic operation? I am pretty sure it is, those devs can’t be that stupid, right?
The sole reason that Terra finder is not like BSCScan or ETHERSCAN , no body knows whats happening on chain… its not decentralised.
so they can pull of a sca m like this.
this is not how crypto works
why would we as community need to ask where did it go
it should be on a bscscan like address
isnt it?
To confirm those UST are burned, we need at least one of
We have neither.
In the original proposal they stated:
If this proposal passes, the 1,017,233,195 UST from the Community Pool will be sent to the Community Core Burn module address below, where it will be immediately burned. Additionally, the 371 million cross-chain UST will be bridged back to Terra and burned by TFL upon the results of the pending governance vote.
However it doesn’t say it’s gonna happen automatically, so perhaps funds got withdrawn but not sent to burn yet. Perhaps they also bridging UST back to Terra first.
What I really think is that they’re focusing everything on the token launch, and gonna deal with this afterwards. But I have no idea.
I don’t believe this that this won’t get done properly, they wouldn’t have posted it on their twitter if they didn’t want attention on this proposal.
Read the FAQ of this proposal. This is a spend proposal. Once the vote passes, it automatically actiivates the code to initiate the spend. It can’t be done manually, only by community vote.
Hence there should’ve been a verifiable transaction confirming the funds being removed from the pool.
And right now all we know based on the balance that the block is reporting is there’s onlly 1.5 UST in the community pool but no transaction to show why/how/where the purported burn amount went. And supply/circulation hasn’t changed to corroborate any burn from this proposal.
The op of this proposal does’t respond either. This UST allocation needs to be verified ! Nobody here has been able get to the bottom of this. .This is a dire situation.
Need to contact the dev team possibly ? I have DMs enabled, this 4 hour slow mode is a nuissance and hinderance to trying to find out what is going on. If anyone can direct message me please do so we can try to get to the bottom of this.
The difference between the 2 numbers is about right.
{
“denom”: “uusd”,
“amount”: “ 1006733194000000 ”
[…]
but as in blockchains, no TX id - it didnt happen. Hope someone can shed some light on this.
Indeed, please somebody point to the burn transaction!
It is these handlers that are ahead of the Tera v2.
Be very careful, if this embarrassment towards the terra1 community doesn’t change immediately!
I will always be there to remind everyone what happened with the exposure of each moment, manipulated.
Your hands are already stained with blood forever.
Your reputation is being recorded to remind everyone wherever you are present.
Wake up.
Don Kwon said: it is stupid to burn money…
So he was probably like: Ok instead of throwing it away, lets keep it for me.
1 billion UST at the current price is still 30 millions of $… I wont say no to a gift like that…
