Proposal for the 1.2% Tax Parameter Change

Governance & Proposals
278

To restore the peg you must buy 10 billion USTC and then burn it. Then find a way to keep the peg while burning the lunc. :sweat_smile:

It might be possible to create a pool to buy the USTC with the generated money and burn it. This restores the USTC peg. Then a faster way could be found to burn off the excess LUNC.

279

@Vendrugo I have really possible and easy way how to do it. Check my threat about it. Simulations are really promissing.

280

10 B is easy look how this wallet mint new coins. It is tagged as TFL wallet btw.
https://finder.terra.money/classic/address/terra1dp0taj85ruc299rkdvzp4z5pfg6z6swaed74e6

Screenshot_1
Screenshot_11365×697 64.6 KB

281

Yeah but you can’t mint a token to burn it. They must be purchased with real money. You also can’t make it disappear by simply deleting it because the blockchain doesn’t allow it.

And many of those tokens are in the possession of users. The ideal would be to create a pool that is filled with money obtained from the fees to burn the excess USTC or maintain the peg. They should also consider putting a cap on the number of tokens that can be in circulation to avoid what happens with the LUNC token.

Another idea could be to burn the tokens obtained through staking, any means that can speed up the burning and return LUNC to its splendor. It all depends on the users and whether they care about the community and what they are trying to do here or continue thinking and hoping that LUNC will be worth 1 dollar one day by magic. You can’t be so greedy because thanks to that we are where we are now with so many LUNC tokens in circulation. People bought those tokens very cheap.

1 Like
282

Just remember this important detail.

The TOP 100 USTC wallets hold 85% of USTC and if this is the case it should be very concerning to all LUNC holders of hidden agendas to repeg with USTC.

These wallets IMO need to be identified as the ownership, are they whales with good or bad intentions, which are CEX wallets, hedge funds, parties who may have been part of the initial demise.

Decentralisation is paramount to maintain core functionality and reasoning for the Blockchain.

As per HCC comments in his video, perhaps a new stable coin should/could be created.
LUNC needs 100% separation and zero reliance on TFL.

(3) #USTC & THE ISSUES WITH REPEGGING! :rotating_light:VITAL INFORMATION SURROUNDING REPEGGING​:rotating_light: NEW STABLE COIN? - YouTube

2 Likes
284

Has there been any discussion about the amount of taxes?
In my opinion, the act of setting it lower than Binance is a betrayal to them. 0.2 would be agreeable.

285

Instead of all these tax burn changes, why not actually bring a use case to Lunc ? this blockchain is ultimately kaput without it actually being used

1 Like
287
1 Like
288

I am very happy that finally someone talks about the mechanism and not a one-off action. This gives great opportunities for many reasons, I will list the most important ones:

  1. The mechanism can be quickly repaired, improved (it is much more difficult for a human)
  2. In case of malfunction, the mechanism can be turned off (not human)
  3. The mechanism is objective and implements the program without any reservations
  4. The mechanism is efficient and cheap to use (man sometimes yes, sometimes no, it varies)

Thank you ED… I will support!