Proposal for Luna classic

I hope that the new token will work and people will be able to recover at least a portion of their original investment. However, since we will also have Luna classic and UST still hanging there I thought we may as well try to establish burning mechanisms that over time will decrease the supply. Despite the value of Luna classic is near 0 many people still want to trade it, since we have trading volumes in the billions can we at least re-introduce Luna burning mechanisms while disabling the minting?
The old UST can be called USTdebt and a new overcollaterized UST can be introduced. In this case however, UST can only be minted using yield-bearing collateral. A large portion of the yield generated by the collateral will be distributed to holders of UST and a small portion of of that yield can be used to buy back USTdebt and burn it as long as it stays below 1$ value. Since now USTdebt is worth almost zero I think the supply can be decreased significantly. We can think of additional mechanisms to burn Luna classic but I suspect there are billions of tokens locked in smart contract that can be burned via gorvernance proposals. This is just a raw idea, I hope someone smarter than me can elaborate further and hopefully build upon it.

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