Uhm… Rather than outright burning money to tey and bring it value that may be done better at a more consistent en masse rate through low but significant tx taxes and such.
Best way I see to bring LUNA value (other thab somehow fixing UST peg issues) is to USE it. It is still very useful on the Terra blockchain. Many dApps in Terra’s ecosystem are up and running most severely crippled.
Not financial advice, may help the chain chug along and encourage developers to stick around if the dApps they have on chain are used and there’s trade/a market. Otherwise why stick around where there’s no use or customers?
Using LUNA and UST helps take it off the immediate market and might even be used to garner returns. It’s a little awkward, as everything on chaon priced in UST and LUNA, which are qay cheaper currently so seeing $1000 UST or 10,000 LUNA on chain is not all that much
Astroport and Terraswap liquidty pools could use help, as they are a basis for much of the market system’s functionality. The APYs on chain are pretty nicw right now since liquidity is so low especially using a protocol like Spectrum’s which autocompounds profits from LP pools back into the same LP pool, nice.
Anchor’s still making proposals and ideas in their governance, and unlike Terra, Anchor gov staking is open (sorry all if this causes some chaos).
While LUNA governance staking is disabled, various LUNA autocompounding staked tokens still exist and are available for trade such as stLUNA and bLUNA (from LIDO), yLUNA (Prism Protocol), LUNAx (Stader Labs, not sure if still available. These staked LUNA derivatives do not give holders voting rights (but they do to validators behind them which are rather varied as I recall), but they do autocompound staking rewards which given mass LUNA inflation is insane right now (in number LUNA rewarded, not in current USD value), so is just one way to accrue LUNA if that is a goal.
Other than that so many good protocols and their tokens: Kujira, WhiteWhale, Pylon, Luniverse, TerraLand, the list goes on and on, some still available and many unclear if they exist new terra chain, old, both, or another chain completely. Gotta follow their individual media and forum posts, many have yet to figure out token distribution and now may be a good ground floor time, others may already be closed off during transition.
Point being, Terra chain meant to be used, straight buying and burning LUNA is pretty much just throwong away money rather than using it use is a big part of it’s value, so by all means go ahead but leaving burning such massive supply left up to little guys tossing barrel fulls, ouch there might be other ways to bring value to LUNA as a user and leave burns to the system/governance (and what about UST? may have to buyback and possible burn or make bonds or somethin).
Anyway just seems saving the chain qhile ignoring using the chain and perhaps how to revamp LUNA’s role and promote it’s use (opposite pushing mass ust expansion) may be better short term as prooosals worked out. Though the burn CT Twitter campaign along with eToro relisting LUNA probably pushing buyi g interest. Find a use for LUNA people may keep buying it locking it up, using it, giving it value.