Relative fast way to recover USTC peg to 1 USD

Summary
First of all we should peg USTC to 0,01 USD. After market will stabilizate itself we have to reduce total supply of USTC (remove 2 zeros) so with same marketcap it will get price 1 USD and then peg USTC to 1 USD.
In addiction to this we have some time to fix acual reserve assets scheme. While market cap of USTC is much less then market cap of LUNC it will be stabile for a while.

Motivation
When we peg USTC to 1 USD again, we will also remove bad depth on markets.

Proposal
This is just something in my mind, but i think i dont have to say with removed bad depths LUNC should be much more promising for new investors.

Please, feel free to leave your comments.

Another option for reaching the PEG for the USTC is to just slowly raise the PEG to 1 usd.
So for example every week 0.01 higher. The burns would be minimal every week while still bringing the peg up slowly. Because of people anticipating for the raise every week, it will probably raise the prices with minimum burning. How does this sound to you?

@kayserirum This is so long trip. LUNC really needs to be rescued ASAP. (afraid of deli ting) This would take 2 or more years? Also i see problem with speculators. They would just buy USTC for 1/100 price and then wouldn´t sell it until 1 USD is reached. This makes it almost impossible to make peg it this way. (it would … whole chain or reduce lunc price at least 100 times, i think) I still prefer my proposal. But thanks for comment.

1 Like

When Start Burning 1.2% ???a

Token Luna must be completely separated from USTC.

@Narender_Kumar

Please, read topics carefuly. It will be merged after the code is done, tested, passed audits, chain coordinated to restart with new implementation. Also i think this should be done better. Look here: Don´t BURN LUNC yet. Use it for purchase reserve assets firstly This will help price grow up much much more then burning tax from something that will disapear. (transactions, block building) Exchanges will probably implement tax only if there is tax on blockchain implemented to the code. (why i think this is true? Because anything happened after text pass)

Current total supply of LUNC is 6 906 267 040. Circulating supply will increase to the when we re-enable stackings, validators creation. This is why the price will not go up or down now. Everybody is waiting. And speculators knows we have to do it.

@pivo4et

Absolutely NO. Lunc and USTC are twins are always will be. There is NO future for LUNC without USTC. I absolutely don´t understand how somebody don´t know this. ONLY hope for LUNC is to peg it again and make better assets. And only question is how to do it. Nobody will invest to nonsence token without something special with it. Look at LUNA 2.0 it looks like even dapps did not help so this is SURE thing.

1 Like

It would indeed take like almost 2 years but the thing is that people with long term vision and trust would not redeem earlier then 1:1 peg. This would save the pressure on LUNC.

Do you just want to take away 2 zeros from everybody who holds USTC now?

I mean there are alot of people still holding UST from the 1:1 peg. You cant just remove 99% of their funds. Yes with the value of today it already is, but your solution is just a numbers game and no real value.