Better: NFTs. This needs more NFTs.
I’m serious. One of my “Nuke the Moon” ideas applies NFTs and savvy marketing to incentive the mass-burning of LUNA.
I spent all day yesterday brainstorming that, and a few other possibilities. I even thought of a neat way to work in fundraising to help repay UST holders directly. (Raising the value of LUNA by reducing its supply helps that goal indirectly, for the reasons that you stated.)
My idea is detailed and nuanced—right down to a little list of Github issues I’d need to file requesting features from cross-chain bridges, so I can hook my defi contracts in other ecosystems directly into Terra. And I could do it permissionlessly, as an independent LUNA holder doing the “cypherpunks write code” thing. I don’t need Terraform Labs for it—although they, or interested members of the public should feel free to reach out to me. I’m motivated to work day and night on this. I want to help permissionless price-stable currency succeed; and I obviously have a strong desire to boost the value of my LUNA. @dokwon wants to (re)build the community and the ecosystem, so…
If, however, they were retroactively to declare by fiat that my coins non-fungible (= unequal to other coins), and devalue them based on when I bought them, or on what I paid for them, then I probably wouldn’t be much in the mood for this and other projects. Same as for the coins of my Bitcoin maximalist friends whom I badgered into investing in a dying altcoin (!). I will catch hell for that.