Proposal For distribution of code for proposal 3568 (for the 1.2% burn) and for 4095 (re-enable delegation and staking)

Arguing is meaningless. The most important thing is change at now, change the status quo of community governance being kidnapped, and change the token brand pirated by DK, and then it is the perfect solution to the problems encountered in the process. It’s all better than waiting for death.

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Let’s make a simple calculation of burning tokens at a rate of 0.5% per day:
7,000,000,000,000 tokens minus 0.5% burning daily = in a year there will be about 280,000,000,000 tokens

280,000,000,000 tokens minus 0.5% daily burn = about 11,200,000,000 tokens left in a year

11,200,000,000 tokens minus 0.5% daily burn = about 500,000,000 tokens left in a year

As you can see, in just 3 years, with the burning of 0.5% of the tokens, approximately 500,000,000 tokens will remain in circulation. As you understand, when burning 1% of tokens, the same result will be achieved much earlier.
So, after 3 years, there will be about 500,000,000 tokens in circulation - what price can they have? And the price will be much higher than $1.

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And this is why the burn needs to be enacted. Anybody failing to understand that doesn’t understand basic maths. Hopefully then we can bring devs back - LUNC won’t survive without utility.

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This topic is temporarily closed for at least 4 hours due to a large number of community flags.

This topic was automatically opened after 8 hours.

Link To Formal Proposal Text

To Vote:

Note: In looking back in TFL’s repository for Terra Station we found that they made changes to the wallet without proposals. However, any changes that block or alter any aspect of governance should be made only with proposals (since documentation specifically states that TerraStation is how governance is to stake, to propose governance, and to vote). You can compare this with Terra v1 governance votes that have been passed

For this reason, any non-governance access changes, as mentioned above, regarding new functionality on TerraStation and the associated mobile applications to launch in tandem with v21 would be implicit with this proposal.

Note - Testing: Initial internal testing has passed for changes made to code re: “no validator should achieve more than 20% of the voting power for an indefinite period until community governance decides otherwise”

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This system is set to automatically lock discussions when there are a large number of community flags. It was the system, or moderators, that removed the discussions that were flagged. You can look up in the posts and see where the system automatically locked and unlocked the discussion.

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@Slickrick37 1,2 % is burned not paid to TerraRebels. In code you can see it is burned automaticaly and it reduces total supply. Why you ask like that? Another troller?

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What’s your problem dude? Sell ​​it all and be done with it

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Hi @Slickrick37 ,

The 1.2% from proposal 3568, for on-chain transactions, goes directly to burn directly after each block. There is a good presentation, in addition to section 3 in the paper “Emergency Management and Recovery of Luna Classic” that @ek826 put together on the topic, you can find it here

Terra Rebels is currently not being compensated, it is completely a volunteer effort at this point. They are currently seeking to organize as a separate decentralized autonomous organization, in service to the Terra v1 governance community.

The Terra v1 whitepaper, in section 3, does mention that the community pool should be used for fiscal incentive projects. These are normally dApps, and other projects, that would bring value to the chain. I was just pointing out that community spend proposals can be used for the Terra v1 governance community to fund its objectives, particularly in regards to development and maintenance of the project (so the Terra v1 community could choose to fund development projects out of these funds if they so choose).

While I personally believe, and have personally stated it, that development should be funded, even if partially, from the community pool, Terra Rebels so far has sought external funding and is organizing a broad based business model (which while include serving the Terra v1 governance community, also includes a broader scope beyond as well).

@ek826 may be able to give more definitive information on behalf of Terra Rebels.

I hope that helps out a little bit.

I hope you have a wonderful day today :slight_smile:

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Correct, but Terra Rebels will create fiscal stimulus through community pool, aka inflation… aka adding tokens to supply, to pay themselves for their services from what @aeuser999 stated which would be counterintuitive to the burn and create a cash register for Terra Rebels.

@aeuser999 You are wasting your time. It´s not needed to feed trollers. I just wait until they excactly say, why they are here. To make sure everybody can see it. Both of them or he is just one (i think he is just one) are/is here because he/they lost money while LUNC dropped.
There is no way to make them happy, they are trying to make LUNC price drop more. This makes them/him happy. But it´s never gonna happen. He probably even don´t own any LUNC, but he just troll here. It would be better when we just flag him everytime to make sure moderator can remove him and his accounts again. He got plenty of time, but i think it is going to make him crazy when discusion is closed. Just because he cann´t troll here.

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in that case go there

Thank you admins for unflagging my posts as spam.

Terra Rebels,

What protocols or projects have agreed to build on your new code?

I am so thankful for everyone in this discussion. I would like to ask that we use the community flag sparingly (at least as a request). Too many community flags results in this discussion closed for at least 4 hours.

My hope is that it would allow for a full discussion, and that requires ideas that may challenge - that is ok, and I have asked others to share their honest concerns. At the same time, if you are someone who has restated your position, please know it has been heard.

Thank you each so much for your discussion, participation, good questions (even if they are challenging), and helpful comments :slight_smile:


That said, since I only get one post every 30 minutes - I am going to use the rest of this post to answer you @Slickrick37 (I hope that is ok),

Re: “What protocols or projects have agreed to build on your new code?”. I am going to take that answer as attempting to determine the viability of Terra Rebels as an effort. That is one of the reasons I pointed out the community pool spending proposal as a way Terra v1 governance can use to fund its own maintenance of the Terra v1 project. So, that in itself means that any development should be viable.

However, in regards to Terra Rebels specifically, I do know they are committed to supporting the Terra v1 governance community (to implement code that would pass governance proposals). In order to do that they have sought out a business model that would go beyond just supporting the Terra v1 governance community (although that is the main heart of the group). It may be better to contact @Zaradar , @raider7019 , or @ek826 since each of them would be in the position to speak for Terra Rebels. They each are also on Discord, using the same user names, at this link .

I hope that may help a little.

I hope you have a wonderful day today :slight_smile:

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I appreciate your feedback and responses. I am trying to understand the motive behind the Terra Rebels because all projects have moved to V2 and I do not believe these projects would back track to V1 at this point given TFL support on V2.

Why not support the current V2 blockchain? There are many protocols that are actively working and re-building on the new chain. The Terra Rebels could be a valuable contributor to V2.

Would love to hear more responses from other Terra Rebels. @Zaradar @raider7019 @ek826

The most important thing now is to implement the burning code at 1.2% without errors, after that we’ll see what happens, and the sooner you do it, the better it will be for V1, because there is no time for buildup. I think that if you implement the burn code, then the exchanges will follow you too, and V1 will quickly recover.

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Terra Rebels will be compensated through fiscal stimulus for their services according to @aeuser999 through the community pool which would be inflationary.

This will create inflation for the LUNC token and will be counterintuitive to the LUNC 1.2% burn and all LUNC token holders.

Compensation should be addresed before the LUNC token is inflated even more.

V2 without V1 will not survive. Can a house be built without a foundation? LUNC is the foundation, if this foundation is not restored, then this house will collapse. To save LUNC, people are already voluntarily burning their coins, and if the 1.2% burn code is implemented, even more people will start burning their extra coins just like that.

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V2 is not correlated to V1. Not sure why V1 wouldn’t be able to survive without V2. Can you please elaborate?