[Proposal] Tiered repayment: 1:1 USDC refund to all UST holders up to a certain cap per-wallet using LFG funds, favouring small wallets

Governance & Proposals
4077

Good news from Binance, which accounts for more than 50% of all LUNAC transactions. Please opt-in for the 1.2% commission burn in order to reach 50% of total traders so Binance will extend it to everyone and all exchanges will follow.

Edit: Approved! Binance: In response to the LUNC community proposal on burning trading fees while maintaining a good trading experience for users, Binance will implement a burn mechanism to burn all trading fees on LUNC spot and margin trading pairs by sending them to the LUNC burn address.

1° first burn from Binance. 5,595,907,838.67 LUNC (approximately 1,863,213.47 $) were burnt in 11 days. At this rate, it takes about 6,904,017,889,662/5,595,907,838.67=13,572 days or 37.2 years to burn through the entire supply of 6,904,017,889,662. The number does not change if we assume a total final supply of 1 billion LUNC.

2° first burn from Binance. 2,992,563,505.66 LUNC (approximately 916,502.50 $) were burnt in 7 days. At this rate (1°+2° burns), it takes about 6,904,017,889,662/8,588,471,344.33=14,468 days or 39.64 years to burn through the entire supply of 6,904,017,889,662. The number does not change if we assume a total final supply of 1 billion LUNC.
We will see if this number stabilises with the next burns.

4078
4079

This is a very bad idea. This fund should be used for future development, instead of spreading it to everyone to create huge selling pressure and let the bankers absorb money!
This decision is self-defeating.
I don’t understand why anyone supports the idea of ruining the future for that little compensation

1 Like
4080

The compensation can offer very little. There are really not enough to make those affected whole again.

1 Like
4081

Finally SBF, one of the biggest fraudsters of the history along with Madoff and Holmes, has been arrested. Do Known claims that SBF is one of those responsible for the collapse of the Earth ecosystem.
I do not know what is the truth and if it will ever become public knowledge, but I will never stop fighting until all small UST holders will be compensated and for that I really appreciate what @FatMan is doing.

4082

At this moment we need stop ustc distribution, ustc burns (very easy at this prices) and working main ustc apps. This make Terra great again.

4087

Hi,
I wrote a small petition that could be signed by UST investors and the community at large in order to receive a refund directly from the various exchanges.

4088

The LFG website with the recovery fund is no longer available. According to the wayback machine, the last snapshot is dated 06/01/2023.
A recent news, which is yet to be confirmed, seems to indicate that Do Kwon has withdrawn from that fund.

4089

Can someone bring below idea to attention of top guy

One-time burn fee for Stacking

A. All station wallet doing stacking have to contribute a minimum 1 million burn contribution.

  1. We have 5.4 million wallet in station
  2. Wallet stacking will get reward after 10% TDS (tax deduction at source) which will be auto send to burn address
  3. Once the wallet hit target of 1 million burn, TDS will no longer be deducted and wallet will be white listed. Consider this one time charges to make LuNC great again.
  4. Any wallet already sent 1 million+ LUNC in pass will be auto white listed
  5. With 5.4 million wallets, this will result into trillions of burning
  • this is not infinite burn but 1 time contribution untill upper limit of 1 million reached. So community will be easy to on board to idea
  • it is % TDS on reward so equal burdern on stacking income
  • community will be onboard as they know everyone is contributing. (Question of “Why should only I do it” will not arise.

Can someone rhink about it and start discussion on Agora on this. I dont have the expertise and command over english language to make it more presentable.

4090

LFG wallet:
Terra classic : terra1gr0xesnseevzt3h4nxr64sh5gk4dwrwgszx3nw
Bitcoin: bc1q9d4ywgfnd8h43da5tpcxcn6ajv590cg6d3tg6axemvljvt2k76zs50tv4q

There has been no outing movement since May 2022

4091

Say you “pay” the 1m fee. Wallet gets compromised. Well, pay it again.
Got multiple wallets? Pay in multitudes.

Use a CEX? Be unhindered. No worries on 1m fee.

Besides the fact that 5.4m wallets have been created, there’s not that many holders of LUNC.