Proposed Ziggy Fork + Escrowed Buyback (2/n)

Governance & Proposals
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Terra Luna Getting his own Visa Card (proposal)

One possible proposal could focus on creating a credit card that allows users to earn rewards in Terra-based cryptocurrencies, such as Lunc or UST. The rewards could be structured in a way that encourages users to hold and stake their Terra-based assets, thus supporting the stability of the ecosystem. For example, users could earn a higher reward rate if they stake their rewards in a Terra-based savings account, or if they use their rewards to purchase Terra-based products or services.

To incentivize users to adopt the credit card, it could be designed with user-friendly features, such as low fees, cashback rewards, and exclusive benefits for Terra ecosystem members. For example, the credit card could offer discounts on Terra-based products or services, priority access to Terra-based dApps or events, or free access to educational resources on Terraā€™s blockchain technology.

To fund the rewards and benefits, a portion of the transaction fees generated by the credit card could be used to purchase and burn Terra-based assets. This would create a deflationary effect, reducing the overall supply of Terra-based assets and potentially increasing their value over time. This could be a powerful incentive for users to adopt the credit card and support the Terra ecosystem.

When proposing a credit card for the Terra ecosystem, itā€™s important to consider the regulatory and compliance requirements for operating a payment network. This could include obtaining licenses, implementing anti-money laundering (AML) and know-your-customer (KYC) procedures, and complying with data protection regulations. Itā€™s also important to consider the technical infrastructure required to support the credit card, such as integrating with existing payment networks and securing user data.

Overall, a credit card for the Terra ecosystem could be a powerful tool for increasing adoption and support for Terra-based assets. By structuring rewards and benefits in a way that incentivizes users to hold and stake their Terra-based assets, and by using a portion of transaction fees to burn Terra-based assets, the credit card could help support the long-term stability and growth of the Terra ecosystem.

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This proposal is a direct spit in the face to all of the LUNA CLASSIC Holders!
We are not here to cover your debts, Duncan. Tobias left and i think itā€™s in the chains best interest that you leave too.

this isnā€™t to cover my debts use ur eyes and read next time

u will also have to try harder than that to get people to leave permissionless systems

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What is this? ChatGPT on Uncensored mode? :sunglasses:

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This is only needed for 2.0 holders, with 0 community and trust.

Today not 1 April, lol. :rofl:

3 Likes
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This topic is temporarily closed for at least 4 hours due to a large number of community flags.

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This topic was automatically opened after 4 hours.

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Apologize for my ignorance and maybe this has been covered before which Iā€™ve yet to come across in detail, but why canā€™t we repeg to something other than ustc? A lot of people I think are in favor of a repeg but doing it with ustc seems way too complicated and, not to mention, the legal ramifications associated with it. So, why not look for another solution, possibly less complicated, that does not involve ustc?

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Hi, the community voted and i hope you get the point. Please do not waste any more of your time (and ours) on making any more of these fork-merge proposals as itā€™s not going to fly. The community is not stupid as see right through your intentions.
I voted NO WITH VETO (So did the rest of the community.)
Thank you and please leave the re-peg work to the professionals!

3 Likes
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We only have 2 professionals now.

  1. CZ.
  2. SK or US government, with 300m $ plus 40k btc stolen by Kwon&co.
1 Like