Summary
Remove LUNC from Binance. Shift to Kucoin/MEXC or other supportive exchanges. Obviously CZ is scared of the transparency that is needed for implementing off-chain burn. Punish him by removing LUNC from Binance for not supporting the burn initiative of the LUNC community.
Motivation
Once LUNC is removed from Binance the volumes will shoot up on Kucoin/MEXC and other supportive exchanges.
Proposal
Remove LUNC from Binance. Shift to Kucoin/MEXC or other supportive exchanges. Obviously CZ is scared of the transparency that is needed for implementing off-chain burn. Punish him by removing LUNC from Binance for not supporting the off chain internal burn initiative of the LUNC community.
Once LUNC is removed from Binance the volumes will shoot up on Kucoin/MEXC and other supportive exchanges.
The punishment for Binance for not supporting off chain burn will be loss of millions of dollars in trading fees every month.
We were reaching a volume of more than 3 trillion LUNC on a daily basis a few days back. With that volume and a 1.2 % total burn rate in less than 170 days we can reach a circulating supply of less than 50 billion.
Let us remove LUNC from Binance and teach a lesson to selfish and insensitive exchange owners such as CZ and show the power of the community owned projects as was done with the case of GameStop.
Binance is the most dubious celf-centered exchange with zero credibility and total lack of transparency. Just by stopping deposits on the day when trillions of ill-minted Luna was pouring into the exchange CZ could have contributed to stopping the escalation of the fiasco planned and executed by the devious management team of LUNA v1 led by Do Kwon. Obviously CZ was in cahoots with this gang. The accounts holding these ill-minted trillions of LUNC could have been frozen by BINANCE. CZ would never do this for he is never for justice and honesty. You are the one who is beyond foolish to trust such an exchange and person!
You do understand that you cannot force users to move their coins from one CEX to another, right? It’s a matter of preference and has nothing to do with the community itself.
If we remove (d l i s t) LUNC from Binance then all members will be forced to move their holding out from Binance to other exchanges. And the accounts holding the big balances that keep pushing the price down too will be revealed.
this is a bad offer, binance is a good exchange that helps us, not all of its decisions seem logical, but this is not a reason to burn bridges. Think 10 steps ahead, it’s a long game
What is good about Binance if its non-implementation of off-chain burn is only harming the prospects of LUNC. Any stupid exchange which is not able to feel the pain and passion of the LUNC community is useless to us. Kick them.
Stupid Proposal - with an extremely poor mentality
either the holders on Binance decide to change the exchange voluntarily or not - a coercion is an absolute no go - we must be able to accept other decisions - regardless of we likes them or not. A punishment mentality is an absolute no go
apart from the fact that this is not technically well thought out
Another pseudo-intellectual dumb non-contributor, may be Do Kwon follower, who we can do well without in the community.
Binance is being investigated by most of the top Financial Conduct Authorities for irregularities across the globe and the most recent one being this.
Binance Holdings Limited and Binance Canada Capital Markets Inc. ceased operations in Ontario in 2022 after they failed to meet regulatory requirements set by the Ontario Securities Commission (OSC).
Just because Binance has got big volumes we don’t have to accept any stupid thing they throw at us. They are not useful to us if they don’t implement off-chain burn tax and any trillion LUNC volume there is irrelevant and doesn’t contribute one bit to the development of LUNC. “Period”.
You may be the one who will have to go there with such a servile attitude towards CZ, Do Kwon and the likes, who don’t have any guilt in taking money from innocent and trusting investors using any and every unscrupulous method that is available.
Thanks to the swift action by the South Korean government one of the above two is already on his way there. What with so many different governments in hot pursuit the other one may follow suit in the near future!
It is clear that you hate DK and CZ, and that’s fine and you are entitled to express your opinion. But this proposal will only hurt the community revival plan. Like it or not, Binance is the biggest CEX in the world and a Lunc deIisting will weaken our already frail position. Almost every time a coin gets deIisted from a big exchange, what most people think is that the coin is a scam, or it is in its last leg, or something really bad happened.
It will also deter institutional investors (for said reasons) and most retail investors won’t even
hear about Lunc (a lot of people just buy crypto and keep it in CEXs). And, right now, we need new money coming in.
It sucks that Binance did not implement the off-chain burn, but the sole acknowledgment of the proposals (with links directing to the governance proposals) is positive and gives visibility that Lunc is not a meme coin and the community is rebuilding it.
On another topic, you saying that
is just misleading: the allegations by the OSC are that the exchanges (not only Binance but Bybit, Poloniex, KuCoin etc) are offering securities and derivatives without proper registration with the OSC. And since not even the SEC can clearly defines what crypto is, most of these allegations of meeting regulatory requirements are, at best, vague.
What is there that is not to detest the derisive and devious DK & CZ pair. Good that the unwarranted free run of the former is coming to an end now thanks to the action of the South Korean Government. There is no doubt the latter will face the consequences soon.
Just because an exchange is big does not give the powers to do everything to support a swindler. Just by blocking and freezing the accounts which received the trillions of LUNC during the crash Binance could have very well contributed to the mitigation of the fiasco to a great extent. Being a dubious exchange in the first place makes you a even bigger dubious exchange because of your size.
There is nothing misleading about the number of investigations that have been initiated against Binance by the regulatory authorities of several countries across the globe. Sooner than later some brave authority like that of the South Korean Government will catch up with them and CZ will face the same plight as that of DK! Waiting for that day to happen. When all accounts with ill gotten gains on Binance are frozen, that is the day LUNC will be back to about 100 $. We will not need to burn any more when that happens.
Right now even KuCoin made it clear that they support only on-chain tax.
The reality is that apart from CoinInn and MEXC the others are simply riding on the popularity of LUNC by saying they "support " it but make it clear it is only on-chain. Not off-chain.
Can we please wait until AFTER 21st September, after which we can pressure Binance in particular, but generally all the top 5 exchanges(apart from Coinbase) to implement the tax off-chain?
?The only proposal I would support is that should specific large exchanges support the off-chain tax, then we should find a way of preventing traders from shifting to other exchanges(very unlikely, because some will stick to the exchanges they know and in some cases, the options are limited).
Otherwise, for now, let us hype up the on chain burn and once it starts, shift our attention to Binance and the other exchanges to implement an off chain tax.