[Proposal] LUNA + UST recovery plan

The current proposals are not very well thought through and are being viewed negatively by the overwhelming majority of the ecosystem.

My proposal is a combination of some very well thought through plans to revive Luna and after going through the numbers this way would work in favor of both pre depeg and post depeg holders.

  1. Remove UST pegging and minting mechanisms from the LUNA contracts for now
  2. Implement a 3-5% taxation on buys/sells (requires adding code to the existing contract + collaborating with CEX exchanges)
  3. From this tax use 50% to burn $LUNA + 50% to buy back $UST back to peg price
  4. Source investment to increase the rate of recovery through point 3 to complete burns and buybacks of UST at a faster rate
  5. After UST peg is restored continue the tax untill there is enough collateral to cover UST

This way will 100% be the most successful way to restore faith, trust and harmony to the ecosystem. The volume of Luna currently speaks for itself and tapping into this volume through the taxation model will generate enough revenue to reduce Luna supply back below 1T supply easily and allow UST to repeg and not require minting of LUNA to sustain itself.

Staking rewards will require adjusting to ensure that the burn rate is higher than distribution however this is the easy part.

Its all maths, numbers will need to be finalised and adjustment will be required regularly but if this proposal is pushed i strongly believe we will recover very quickly.

Lets BUILD our way out of this the honest way.

13 Likes

you’re right dude I agree with you saving luna needs to be a priority or launching a new luna will hurt the ecosystem and hurt the trust of the crypto community

3 Likes

I like this too

3 Likes

This is a very dumb proposal

This is a good plan.

1 Like

How do you come to that conclusion?

This is not bad, good contribution

Lets make a deal! We need to talk CEXs :fire::fire::fire: