A quick plan:
Burn Address: terra1sk06e3dyexuq4shw77y3dsv480xv42mq73anxu
If the burning of tokens from the station wallet were implemented, we could speed up the process. It could also be established through a smart contract if you want to send a certain amount of tokens at a certain time. daily, weekly, monthly.
No worries! We are all together in this battle
Can we please leave politics and personal feelings out of this post, am sure there are other social media more appropriate for that, but that’s not what Agora is for.
We are here to discuss and provide feedback on the viability of this (potentially) upcoming proposal. It is where our collective mind comes to build and work on ideas for the future of our chain.
P.S. That also means, if a proposal passed that shouldn’t have we didn’t do our job right. We didn’t ask the right questions and raise the correct arguments.
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Nice, because I don’t like politics. It bores me, I always say what I think and politicians do what their sponsors tell them to. If we are to work, facts matter and let’s talk about them about reality. I leave the election sausage to politicians and lancers.
That’s why I’m taking matters into my own hands! 
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The naming of this proposal using the “re-establish community trust” line is identical to what most politicians want to do when they try to pass legislation. Give is a great sounding name like “Saving Kittens and Puppies Bill” when it does no such thing. How exactly does upping the tax re-establish trust?
And will everyone who votes yes to increasing this tax also vote to change it immediately back to .2% if we see another drop in volume?
Could you make the same, just one time? BURN - terra1sk06e3dyexuq4shw77y3dsv480xv42mq73anxu
ONE $ ONLY !
There are many statements in your proposal I agree with. The 1.2% burn tax was not given long enough to prove its effectiveness. I give this a big YES!
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NO, because 50% goes back to mint again. I got tired of so much nonsense, I will only make money buying and selling.
I fully agree with you!!!
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No. This won’t help Lunc.
Absolutely no.
Proposal 11111 will fix that 50% issue if passed. Go vote on it now.
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Is it possible to not go feast of famine? During the initial 1.2% tax, volume took a hit, albeit for about 2 weeks worth of data, but then a dramatic drop all the way down to.2%. Why not try to find something in between, like .75 maybe .8% and see how that goes. I feel the same way about the remint bs going from 10% to 50% remint. That ludicrous. I was doing live burns of 10-25% of my rewards weekly during the 10% remint days, and I was fine with it. I have since stopped with the adoption of 50% remint. It’s pointless. That too should have been a, dip a toe and see approach not gorge yourself and hope no one cares. 20-25% Max on that front for the pool.
Anyway, just my two cents.
This a suggestion on loaning $1M/$2M from the $65M Oracle pool to the CP for L1/L2 development. This loan will not significantly affect the staking rewards for a number of years. A part of the 10% or 50% from the burn tax revenue can be used to repay the loan with interest to the Oracle Pool. This will put to rest the challenge of paying the developers.
Filling Oracle pool is very important.
Put this up Classy once 11111 passes, so we can have 1.2% with 10% community pool (1.08% burn and 0.12% devs). Then in January as advised Ed and L1 crew will fix it so the 10% is directly from the tax and is not minted. An end to minting and a return to the 1.2%. We will have the perfect burn setup.
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1.2% upgraded with 10-20% going into Community Pool would be perfect for the time being. With this setup:
- it is clear we are not reminting Binance’s funds
- Community Pool is being replenished at the same rate or faster than what we have now (0.2% tax with 50% remint)
- The speed at which we burn total supply of Lunc is increased by 1000% !!
- it is now known that IBC transfers are not subject to tax so people trading there are not negativelly affected
- Community is refocused on a clear goal
- we can track total supply daily, celebrate milestones and build a viral momentum on social media to attract new investors.
- we can go back to onboarding exchanges and partners to implement the Burn mechanisms on their end
- in the meantime we can work on USTC repeg and other mechanisms that will improve the competitiveness of our chain.
- portion of the funds sent to the CP can be set aside for various projects
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Allnodes & Insterstellar just voted yes on proposal 11111. Please put up your proposal for voting.
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The momentum is back to the Burn movement @ClassyCrypto. Its not the time to hesitate. You definitely are on the flow of the Community. Dont hope for a perfect solution. Before you reach it, the momentum might fade away. Youve done right putting the 1.2% prop up. Nearly a week passed and your are free to list it in TS. Go for it. If you need deposits, Im happy to provide.
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I just love this @Mpowski . Go for it @ClassyCrypto . You have my vote and I think allnodes. This is a recent tweet from them.
“We vote “Yes” for #TerraClassic $LUNC Prop 11111. 1) We haven’t seen any positive changes in volume since reducing burn from 1.2% to 0.2%. 2) We were against additional reduction in Prop 10983, where we voted “No”. 3) We think that burn and tax proposals should not be combined.” Reach out to Allnodes et al.
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