Terra Ecosystem Revival GOLD Plan 3

Governance & Proposals
1

Motivation

While UST has been the central narrative of Terra’s growth story over the last year, the distribution of UST has led to the development of one of the strongest developer ecosystems in crypto.

The Terra ecosystem and its community are worth preserving.

  • Terra’s app ecosystem contains hundreds of developers working on everything from defi to fungible labor markets, state-of-the-art infrastructure and community experience
  • Terra Station has a large install base, with million+ users across the world
  • Although distressed, strong brand recognition and a name that almost everyone in the world will have heard about

$UST peg failure is Terra’s DAO hack moment - a chance to rise up anew from the ashes.

Summary

*** MAKE A SOFT FORK, not HARD Fork so no need change anything in LUNA token only delete the UST token from the Project

*** Burn 3% of Luna for each transaction such us Buy, Sell, Swap and than decrease the burn rate by 0,3% each 10% of token burned up to 0% when Luna token become 1Billion.

  • Network security to be incentivized with token inflation. Target staking rewards of 7% p.a.

Developer Mining Program

There are essential apps that must exist in any web3 ecosystem to be viable:

  • Infrastructure - Setten
  • Dex - Astroport, Loop, Terraswap, Pheonix
  • Explorer - Finder
  • Payments / onramp - Kado, Alice
  • Wallet - Station, Leap, Falcon
  • Lending market - Mars, Edge
  • Analytics - Coinhall, Flipside
  • Staking derivative - Stader, Lido, STEAK, PRISM
  • Launchpad - StarTerra
  • Bridges - Axelar, Wormhole
  • Stablecoins - USDT / USDC bridged over
  • NFT exchange - Randomearth, Knowhere, Oneplanet, Luart, Talis
  • Insurance - Risk Harbor
  • Structured products - Nexus, Apollo
  • Games - UNOPND etc

… and others.

Essential app developers will receive:

  1. Emergency allocation (0.5% of total supply): immediately after network launch to provide for runway while they build out product. Commit to returning funds if product has not been launched in 1 year.
  2. Developer Alignment Program (1.5% of total supply): 1 year cliff, 3 year vesting thereafter
  3. Developer Mining Program (8% of total supply): Essential app developers earn a share of the mining program proceeds pro-rata to the amount of TVL every quarter for 4 years.

Essential app developers looking to join for emergency allocation should signal public support for the net network on Twitter and social channels.

** NO Token Distribution, WE ALL ALREADY HAVE THEM**

Technical details

  • Terra Core to have the oracle , treasury , market modules removed - no UST
  • Luna eligibility includes Luna, bonded Luna, unbonding Luna, and staking derivatives

Timeline

  • 05/18 - Announcement out
  • 05/19 - Governance proposal out
  • 05/22 - Terra Core release is cut, network launch instructions made available for validators
  • 05/25 - Essential app developer registration completed
  • 05/27 - Delete UST from Terra LUNA
  • 5/27 ~ Start burn 3% of Luna for each transaction such us Buy, Sell, Swap and than decrease the burn rate by 0,3% each 10% of token burned up to 0% when Luna token become 1Billion.

This is the most clear, easy and correct way to fix LUNA.