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

Governance & Proposals
88

the sooner the better. people need to see something being done for lunc. when the burning starts all attention will be on lunc and it will be a new beginning

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89

Formal Proposal
In accordance with Terra governance, this proposal is being created to distribute code for proposal 3568 (for the 1.2% burn) and for 4095 (re-enable delegation and staking) - both of which passed governance votes. The Terra v1 governance community (which includes validators) must decide the appropriate trusted distribution path for the code for these two proposals. This proposes the following code, the following distribution path, as well as a preventative security measure.

Minus any minor adjustments to blockheight to meet agreements stated in proposal 4095, or any minor adjustments required for due diligence review, rework, or testing on the part of an independent reviewer:

The code being proposed (minus any minor adjustments) can be seen below:

It is proposed that TFL either develop a novel solution or support the proposed implementation of proposal 3568 and 4095:

  • If TFL does not provide any communication, and does not merge, build, and distribute the code in support of 3568 and 4095 in 10 business days from the time this proposal may pass governance

Else It is proposed that,

This proposes that code added for 4095, which although meets the essence of 4095, and provides for preventative security be approved:

  • That no validator should achieve more than 20% of the voting power for an indefinite period until community governance decides otherwise

To see discussion and outlined steps that were done to ensure due diligence for code review, security, and testing:

9 Likes
90

To Vote:

Note: In looking back in TFLā€™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: ā€œno validator should achieve more than 20% of the voting power for an indefinite period until community governance decides otherwiseā€

7 Likes
91

It needs to be posted by the official twitter group

4 Likes
92

@rosanne89, @AtoZ Any chance you can help whitelist this proposal?
Hereā€™s the PR for it: Update proposals.json 4159 by aeuser999 Ā· Pull Request #553 Ā· terra-money/assets Ā· GitHub

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93

@alagiz, In case the guys above are not available, could you please help with the PR merge to whitelist the proposal:

1 Like
94

The proposal is now whitelisted.

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95

great job! Terra Rebels

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96

Hey folks, can anyone please help with the link to this proposal in terra station? It always shows LUNA 2.0 proposals here: https://station.terra.money/

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97

@gargaditya

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98

Proceed and success, thank you for your effort.

1 Like
99

Those validators who abstained, they are brainless idiots, they cannot understand one thing, Without LUNC, TERRA LUNA 2.0 will not exist either, because the foundation is 1.0, if the foundation is weak, then you canā€™t build a house on it. Validators!!! Turn on your brains, stop suffering nonsense!!!

2 Likes
100

relax, their delegators can vote themselfs and some of these validators commit to update if its the community wishes

3 Likes
102

Thank you very much for your effort and time.

103

@SARL_AMK51 CZBinance said they will apply 1,2 % burn tax if it is implemented on chain. What problem do you see?

107

if it wont work whats the big deal to accept it?
TFL has all binary/GH/everything done for them to 1 click install, if this doesnt work at all its a ā€œi told you soā€ to the community and gain peoples trust by laying the path

1 Like
108

@SARL_AMK51 I am one of Binance LUNC holder. You answered me like they own this LUNC all by themselfs and you think they will hold it until it will price up but in this case it canĀ“t. But when there is 1,2 % burn tax implemented on chain there is possible attack on Binance if they will not implement this burn tax too. So itĀ“s not a problem. Burn tax is only popular proposal and it will price up LUNC for sure. Only problem is path to re-enable peg and fix it.

2 Likes
110

I have same question, please tell us !!!

114

The coin price is not increasing because there is 6,905B total supply of coins of which only 6,569B are in circulation and more are going into circulation (minting) faster than the people buying them, therefore keeping the price down. Also, there is uncertainty as to whether validators will choose to run the code mentioned in the proposal which officially opens the chain back for business.

What you should be asking yourself is:

  • Which supply are the ā€œburnedā€ coins deducted from
  • What will happen when the circulation supply reaches the total supply
116

Why are you here then?

If you donā€™t believe in lunc, please go to your luna 2.0, 3.0 leave us alone.

7 Likes