Updated LUNC & USTC Rebuild Road Map

LUNC & USTC Rebuild Road Map Proposal

A. TFL Leadership removal, Non Profit, Newco, & Governance.
[Proposal TBA]

B. Implement transaction tax of 1.2% on LUNC & USTC
[Proposal 3568 & 4080 Passed, New allocation proposal TBA]

C. LUNC - Re-Enable Staking.
[Proposal 4095 & TBA]

D. USTC - Algorithmic
[TBA part of Newco Road Map]

E. USTC - Future Growth
[TBA part of Newco Road Map]

F. USTC - Future uses
[TBA part of Newco Road Map]

G. USTC - New Tokens & Stablecoins
[TBA part of Newco Road Map]

H. LUNC - Public Relations, Marketing & Advertising
[TBA part of Community Run/Non Profit Group]

I. USTC - Public Relations, Marketing & Advertising
[TBA part of Newco Road Map]

J. LUNC Website, Social Media accounts
[TBA part of Community Run/Non Profit Group]

K. USTC Website, Social Media accounts
[TBA part of Newco Road Map]

L. LUNC Team Members
TBA

M. USTC Team Members
TBA

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A. Team Leadership Change, Non Profit/Community Run Token, Newco, Governance.

A1. Leadership Change.

• Do Kwon & TFL are busy building the new Coin and have essentially abandoned the classic Luna chain. This calls for the immediate removal of both Do Kwon & TFL from any form of leadership of LUNC, USTC and it’s related ecosystem allowing these Tokens to live on.

• LUNC to move forward as a DCRT (Decentralized Community Run Token), (Or DAO). A team will be put in place working for the community that can continue with rebuilding Luna Classic.

• USTC & Ecosystem to be absorbed by a New Corporation (Newco) Yet to be named led by myself, (Jonathan Fry) AND a Team to rebuild USTC, turning it into more than just a stablecoin, but mini exchange.

• Ideally Do Kwon & TFL could remain part of either group, but NOT in a leadership role. This will be a discussion to have with them. My hopes are to work with them to make this a amooth transition, as they would be an asset to either, but that is up to them.

A2. LUNC Non Profit/Community Run

• This Proposal calls for the removal of Do Kwon & TFL (Terra Form Labs) from any leadership role in LUNC.

• LUNC to become a community Run/Non Profit Token. A partnership to be established with Newco (See A3) to take over day to day operations of LUNC, assist with its rebuild, and enhancements both ones presented in this map as well as one voted on by the community.

• LUNC will become a Decentralized Community Run Token (DCRT). The WAY it is supposed to be. A dev team will be assigned to implement everything contained in this proposal, as well as others presented by the community. No team member or other entity, will have control over LUNC as it will be left in the hands of the community.

• Newco will not own, or otherwise lead LUNC. The community will. Beyond the rebuild project, our role will become more of a partnership or a stewardship role assisting the LUNC community. NEWCO will act on behalf and at the will of the community of LUNC to further build, market, and provide day to day operations. These could include working with exchanges, 3RD party developers, as well as providing future development, maintenance providing stability, under a partnership arrangement that benifits both parties.

A3. NEWCO (not yet named) & USTC.

• This Proposal calls for the removal of Do Kwon & TFL (Terra Form Labs) from any leadership role in ustc & as well as the ecosystem. We will need to change the name from Terra as that IP will remain the property of TFL unless otherwise agreed upon by them.

• NEWCO will take over the operations of USTC, & the Ecosystem (Changed from Terra). We will work with the LUNC Community in partnership.

• Regarding USTC, this coin is more complicated. It NEEDS assets backing it up to become a stablecoin again. These funds need to be maintained and built upon. For this reason Newco will have control over USTC as it is not built as a governance token.

• For this reason, we can implement a corporate structure (similar to those of which is on the stock exchange) wheras each holder of USTC will recieve a portion of the profits from operations of Newco. Like a dividend.this would be onto of all the other benifits of owning an Algo Stablecoin.

• It’s swapping partnership with LUNC will be re-enabled, as well as building partnerships with other coins to enhance USTC’s reach.

• We will work to fully repeg USTC backing it up with value based crypto assets. We will also ensure an over allotment, meaning the value backing up each USTC will be much higher by at least 50%, and possibly more. There will be safeguards in place to ensure that it remains xx% higher and when that value falls below, measures will be taken. Safe, Non dillutive measures.

• Re-enable Swaps between LUNC & USTC. However there will be a new algo system in place. One that has limits to it. Further as we add other coins into the ecosystem further enabling Swaps this will increase value for both USTC & LUNC.

• We will also continue to back up USTC with cryptocurrency but introduce other coins in place of LUNC. These can include BTC, ETH, BNB, as well as other stablecoins.

• We will also implement a new swapping feature allowing for Swaps between USTC and any coin in our “vault” backing it up within our ecosystem. This will basically act like a mini exchange built into the new ecosystem. It will be limited to the coins in our system. However users can add coins to their wallet from outside sources and swap with USTC helping the system grow organically. Once USTC is swapped for another coin at face value (USTC =$1), plus small fee, then USTC is burnt. Once a coin is swapped for USTC, that coin goes into the vault.

• Introduce other new stablecoins and tokens.

A4. Governance for LUNC.

• Change the Governance voting system to be 75% Validator Network & 25% Token Holders to equal 100%. (Major change so this will be a separate proposal vote)

• Add new interactive app/website to replace Terra Station & Wallet to include the ability to add new enhancements now and in the future

• With number of tokens in circulation increase number of Validator Nodes to 150. This will be a paramiter change to adjust in either direction.

B1. Implement transaction tax of 1.2% for LUNC for the following (adjustable from 0% to 1.5% depending on market and ecosystem conditions):
[As proposal 3568 & 4080 have passed, this is already mostly completed. Proposal TBA to update the parameters of distribution going forward as everything else aligns].

• 0.35% Goes to Reduce token supply. Burned

• 0.10% Goes to USTC Asset fund.

• 0.15% Validator Fund

• 0.35% Goes to the Rebuild & Development Fund of LUNC.

• 0.15% goes to the developers of third party apps. (Dapps).

• 0.1% Goes to a fund set up to help pre attack holders.

• The total tax collected is in line with recently passed proposal 3568, and 4080. We have just added allocation of collected funds for the betterment of the system. These numbers can be adjusted at any time as needed.

• Tax peramiters to help prevent small and micro transactions from being taxed. For example, x LUNC set to Tax free, but x+1 Is Taxed. This is to help prevent Dapps and other micro transactions from being heavily Taxed.
• [New proposal needs to be submitted]

• We also need to discuss with the exchanges how to implement a tax for off chain transactions as well. This will require further discussion and talking with the exchanges directly.

B2. Implement transaction tax of 1% USTC temporarily until repegged, but available in the future if needed, for the following (adjustable from 0% to 1.5% depending on market and ecosystem conditions):
[As proposal 3568 & 4080 have passed, this is already mostly completed. Proposal TBA to update the parameters of distribution going forward as everything else aligns].

• 0.40% Goes to Reduce token supply. Burned

• 0.40% Goes to USTC Asset fund.

• 0.20% Goes to the Rebuild & Development Fund of USTC

• We also need to discuss with the exchanges how to implement a tax for off chain transactions as well. This will require further discussion and talking with the exchanges directly.

C. Re-Enable Staking on LUNC.
[In addition to Proposal 4095, add more enhancents to Staking & Governance via Proposals TBA]

• Staking is important to start, to help rebuild trust, and have a positive DCRT, (Decentralized Community Run Token), moving forward. At time of writing this, looks like we are taking a major step forward as proposal 4095 looks like it may pass. In addition to 4095, we also want to further introduce new safeguards to prevent issues on chain. We also have to deal with the fact that we have 6.9 Trillion tokens. Also we need to find ways to prevent potentially Trillions of coins from getting locked up in the Validator network preventing some from being burned. We also need to put safeguards in place to prevent governance attacks. What we hope to accomplish with governance updates in addition to proposal 4095:

• 1. Ensure a fair governance, Delegation, and Staking system for all.

• 2. In the event of an attack, there are mechanisms in place to minimize the ability to carry it out. The chance of a dangerous governance attack is very low, but will have to tools in place for reassurance.

• 3. Find ways to assist with tokens being burned while a large number of tokens are being locked up in staking.

• 4. To further assist with burning, we would look at adding a new feature that allows those that stake, the ability to burn a percentage of their rewards. This could give incentive to Validators to do this in order to entice delegation to their servers.

• 5. Open up to a limited number of new validator’s before 60 days timeframe in 4095, but capped once it reaches 130. Then after that new validator’s will have towait the full 60 days. (Major change so separate proposal vote for this)

• 6. Increase number of Validator’s to 150 (Major change so separate proposal vote for this)

• 7. Add new interactive app/website to replace Terra Station & Wallet to include the ability to add new enhancements now and in the future.

D. Algorithmic USTC

• The algorithmic stablecoin is an amazing concept, and deserves to be seriously considered. If it can work it will be the crown jewel of the new network. However we will NOT jeopardize the entire system if it cannot. We will not risk another attack like what happened before.

• I believe however it can work. With the proper gatekeepers put in place and limitations an attack can be prevented. For example: If X Tokens are minted in Y amount of time the system stops, alerts the Team, and once resolved is manually restarted.

• USTC can remain being a decentralized backed up stablecoin. JUST NOT with LUNC. We need quality tokens like BTC, ETH, BNB, as well as stablecoins like BUSD, USDC, USDT.

• An interesting theory on adding a Fibonacci based algorithmic solution has been suggested and we would take a serious look at this idea. THIS is one of many ideas. It seems very plausible and offers additional safeguards due to it’s mathmatical equation.

• The idea behind this simple but very complex. Basically the idea here is to give it a so called artificial life.

• The calculations would the heartbeat so to speak. By limiting the number of swaps of LUNC to USTC to not exceed the number of swaps the other way around +$X value, at any given moment. (Down to the second). $X=the allowable over alotment total

E. Future Growth USTC

• Monitize USTC assets for future profits. Like a hedge fund would hedge the market, USTC will be full of valuable assets that can be utilized with a top of market software and best of the best trading team.

• Seek funding including collaralized debt to assist with large burns. For example with $100 million we could potentially purchase majority of the USTC supply. (Understanding that as we accumulate the price will rise so that could result in less). We can then burn 70% and retain 30% for the peg fund.

F. Future uses will include the following (USTC):

• Crypto payment processor like Chia, Square
• Gaming token
• NFT integration
• Metaverse
• Social Media
• And more

G. Create New Tokens and Stablecoins to USTC ecosystem.

• Family of Tokens
• USTC - backed by crypto and blockchain related assets
• UST Gold - backed by precious metals
• USTD - backed by the USD
• USTM - stock market & fund backed assets.

• Token 1. LUNA Classic (LUNC) - Partner Token
• Token 2. LUNA Dark (LUND) - Newco Token
• Token 3. LUNA Gold (LUNG) - Newco Token

H. LUNC - Public Relations, Marketing & Advertising
[TBA part of Community Run/Non Profit Group]

• Create a team dedicated to public relations, as well as marketing & advertising including social media, and public relations.

I. USTC - Public Relations, Marketing & Advertising
[TBA part of Newco Road Map]

• Create a team dedicated to public relations, as well as marketing & advertising including social media, and public relations.

J. LUNC Website, Social Media accounts

• Twitter Account for Luna Classic Community @lccteamofficial
• Website Luna Classic community website coming Soon
• Replace Agora Group chat with new sub domain Board LUNA Classic Community website

K. USTC Website, Social Media accounts
• WebsiteNew Domains secured and temporary website set up
http://classicust.com
http://ustc.ca

L. LUNC Team Members
[TBA part of Community Run/Non Profit Group]
[To be added soon]

M. USTC Team Members
[TBA part of Newco Road Map]
[To be added soon]

Advantages to LUNC & USTC holders.

LUNC
• Lowering supply.
• Becoming a community run asset.
• By separating USTC into a separate company, LUNC sheds $10 Billion Dollar bad debt.
• Maintaining the algorithmic relationship still retains the same value.
• Maintaining a talented dev team, that is being directed by the community.

USTC
• Lowering supply.
• Building USTC to potentially become a leader in the Stablecoin market
• After repegging there is no added benifit to USTC holders by operating as a DAO. There would be no reason for new holders other than LUNC. With this plan profits will be shared to the community is but one new added benifit.
• The ability to swap/trade directly within the ecosystem is a secondary benifit.
• We will always look for more ways to help the community and will gladly listen to the community.
• By being a for profit Newco can participate in collataralized debt swaps, exasperating the repegging timeline. It will give us the ability to have some real world assets backing up USTC if desired. We can partner with a major companies like payment processor’s for exame. There are many more opportunities that are afforded to a for profit corporation vs a non profit DAO.

7 Likes

I agree with burning and enabling staking
I am against the creation of any other tokens.The Luna token must be actively promoted in the gaming industry as an in-game currency and a means of any game settlements.The gaming industry is very extensive and the use of the Luna token will increase the capitalization of the coin.

3 Likes

This is to take the pressure off LUNC. It also hrows the ecosystem adding value to LUNC. It is also not connected directly to LUNC or can affect it in any way negatively.

Ues gaming token (LUNC) is number 2 on future uses as well as Metaverse integration.

Thank you for your job !
I agree that we need NEWCO, LUNC can be a burden to repeg UST to 1$.

1 Like

Both can be successful imo both will have the opportunity to succeed independently but under a partnership. Its a unique relationship. That’s what I love about Lunc & USTC. There is no other ecosystem like it.

How so? New tokens are created all the time. Also that has nothing to do with LUNC really anyways.

Well considering that there has already been announcements of JUST this I would say there allready are.

Is this Terrafried lol account created one day ago hmmmm.

1 Like

Since the new tokens has nothing to do with LUNC, why still created? for new debt? USTC’s debt not still high enough?

1 Like

This is what a road map does. Lists future plans. Which this is listed under. Ecosystem is not LUNC, LUNC is a part of the ecosystem. If there was no hope for these coins and they were a “failure” then there would be no need for a road map or revival plans right. Thats the point

Go to my Twitter as I have them there, and there are more in discussion that are not yet announced. Also NFT creator’s are really taking a look at LUNC as well. They are because there is still opportunity here for them. An active community, on a chain with some of the highest volumes in crypto.

You don’t understand the way this works. USTC is the debt to LUNC, not the orher way around. USTC’s debt can’t really increase at the moment.

1 Like

Another option for reaching the PEG for the USTC is to just slowly raise the PEG to 1 usd.
So for example every week 0.01 higher. The burns would be minimal every week while still bringing the peg up slowly. Because of people anticipating for the raise every week, it will probably raise the prices with minimum burning.

Circulating Supply 6,552,854,761,864 LUNC Continue increase

For my part at the second I opened https://classicust.com/ this proposal lost all of its credibility.

1 Like

I know your heart is in it but I just don’t see it. Why would anyone believe the old owners will give up this coin? Let’s be honest. Either they will see a chance to revive it and be the team or they will shut it down. There is going to be no handover to anyone. Just look at the Ego structures involved. And what is the value in adding more ego?

1 Like

" Multi Crypto Currency Backed Up Coin" , thats not what luna/ust is. I support your leadership, but not your idea there

1 Like

probably devs at terra-rebels are the new leaders. devs run the show in crypto.

2 Likes

LUNC will be 100% DAO.

4 Likes

Hi people! is there new news?