[Proposal] Help UST Pegging. Increase estimated minting capacity to $1200M

I don’t get it. How can UST from CEX like Binance be burned if they get traded between persons?

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I see, thanks

Look at UST supply at Terra Analytics - Powered by Smart Stake

there is still 11.8 UST out there… burning 1.4b ust wont do anything when u already have 29.7b luna in circulation at 0.005 price. at this rate there will be trillions of luna very soon and ust still wont be burnt

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niquedegraaff which is the original Luna value?

does anyone know what is going on with the proposal? I believe it is more than 50% already that voted yes.

Putin closed the auction and banned short positions.

Are we able to wait for another 6 days?

I no longer believe this is a good plan to implement, despite having initially supported it… Luna has already reached magma, and when UST is pegged to one, its price will be equal to Dent or Holo. In my opinion, the only viable way to save Luna would be to fork LUNA and promise investors to gradually peg UST to $1. Luna should also be able to request assistance from the largest exchanges (I am not sure if Do Kwon’s humble personality will help with this). And as someone who owns more than 35,000 Luna with an average investment cost of $25, I would greatly appreciate additional information from the CEO or management team. At this stage, my only hope is to have enough money so that I can buy 1 BTC and hodl…

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external assistance is now needed, on chain can not win this war or…

Yes, i’ve been saying this since the beginning … your ONLY option is to FORK!!! Confidence loss accelerates exponentially the longer the peg is broken. Forking restores confidence early. But at this point. Its done. The rate of confidence loss is accelerating faster than the ability to print luna and repeg. You can calculate the gap by using pedroexplore1 twitter formula on how much luna needs to be burned at each price point. You can calculate the rate of change from there…its accelerating exp. Forking was your only option and by now …it may be too late… What is sad is that Luna project was soo close to getting an algo decen stable coin right… No investor with a solid understanding of risk would step in with billions during a death spiral…it would just evaporate. There is a reason why central banks step in within hours of markets breaking…historical context is key…so much evidence of what happens when you wait…

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Aqui: Terrascope

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So now, basically anyone can buy 35,000 Luna for just 150 bucks. Thank to these idiots. This is how much they f*cked.

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i think am giving in now, chain is dead. Hope we all bounce back some day.

I can much better sense people’s desperation due to financial losses… Starting over doesn’t seem like an option, easier said than done…I hope Charles Hoskinson’s tweet is false, so that at least I know it is no one’s fault…

Blockchain halted, what does it mean?

Can anyone comment on what this means that the Blockchain has been halted

It means stopping all transactions in the network.

Someone here was talking about what Putin did in Russia with the stock market. well, not sure if we can even compare both things with one another, but yeah. halting means stopping.

Blockchain halted ?
So how some can sell for $ 4.10B ?

and he’s not alone

I think it should be evaluated to add a rebasing mechanics into luna token supply to target a value that maximizes value capture from the arbitrage that the market module does. Basically, after a certain point the market module would burn UST and burn LUNA.

In these conditions, there is just too much fresh supply and too little purchasing power that the value that is recaptured is marginal and it’s gonna stay like this. Luna can float between 0 and infinite while usdt is capped at 1, the stability mechanism need to account for this difference which is exponential in nature and not linear.

If you are interested into expanding into this, please partecipate in Humble idea for a new stabilizing mechanics