I just said that we accept this proposal and that we need him to talk to them first.
I’m not being sarcastic at all.
Taking this to vote is gonna cause more damage than you think.
It’s better to talk to them first.
2 Likes
Sorry, I don’t understand all of what was described; it’s very easy to miss things when you don’t have a high-level design diagram (bird-eyes view) of how the system is supposed to work.
e.g. Would help if there was a diagram of sorts depicting the various components mentioned and how they interact to provide the complete cyclical (closed loop) solution described (unless this is an open system solution).
I hope others have better luck than me…
2 Likes
If you want to talk, go to discord 
Thank you but I’d rather have the information in Agora since it’s the URL that is mentioned in the official proposal and every community member can find and refer to it in the future for historic purposes.
gl with the voting.
1 Like
You aren’t illiterate, are you?
This is a community sentiment vote - should this way of repeg be sought further.
Any CEX will also want to know how does the community see about it, lest it be abandoned in a month.
Edit: Ir’s already up for voting.
Alright then let’s put it for a vote if that’s what Redline wants to do.
I personally do not have any issues.
The sooner we can get done with that, the better it is so that we can continue with the real work.
P.S. Lol I didn’t see it’s already up for voting. Then I guess it’s on track.
Yes, This is a welcome development
I have a general question… What happens, if the currency to which USTC is pegged, is affected by a inflation or even a hyper-inflation? What will then happen to USTC?
And, just as a thought, might it be an option to peg USTC to something like an avarage of different currencies - like USD, EUR, YPJ, CNY? Or even peg it to Gold?
Might be a stupid question. If so, please have patience with a person who does not know too much about this stuff 
A US dollar is always worth 1 US dollar.
The buying power of the dollar doesn’t change it.
We have about 20 stables.
USTC - US Dollar
EUTC - Euro
INTC - Indian rupee
And so forth and so on
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For one of this is a SIGNAL vote for exactly this purpose. All exchanges have a copy of this prop now. And should the community support it we will open discussions. If they refuse we don’t go any further. I don’t think I could have been more clear about this.
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I have the support of TGF and the L1 teams. TGF reached out to CEXs on my behalf in ADVANCE of me putting the prop up for votes. And multiple Devs have messaged me to get involved as they have solutions.
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We are sharing the profits with CEXs, it’s not us burning their money as we have been doing. They stand to make a lot more money
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Out of All the proposals put up for vote bar none, this is the ONLY one that prevents further death spirals, and that is actually addressing the problems with collateralisation, out defence mechanism/buybacks and reduces BOTH USTC and LUNC circulating supply.
I genuine have done my DD on this and spent a lot of time working out a thorough solution. And I have also reached out to all relevant parties in advance of putting this to vote.
11 Likes
This is the best proposal I’ve seen for this chain in a long time. It has tremendous potential. There’s a lot of devil’s advocate played by community members on every single proposal. This one is clearly well thought out and covers the majority of potential issues that can be conceived of at this time. It’s worth a shot. The chain needs to take some chances or it will suffer a slow death while being paralyzed by analysis. Easy yes vote from my side.
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This is most stupid proposal of all!!!
Literally all in favor wants others to fix lunc, patetic!!!
Why dont u all face reality!!!
1 - Reenable the lunc ↔ ustc arbitrage but to a value lunc value can hold like 2 cents of ustc.
2 - Recode the arbitrage with a tax for both lunc and ustc.
3 - Make the arbitrage tax dinamic so “if” peg under value on ustc side tax is higher and on lunc side tax is lower, then viceversa “else” peg over value on ustc side tax is lower and on lunc side tax is higher.
4- Send all tax from arbitrage straight to the burn wallet.
If u all kids keep playing shits lunc will gain not a zero but two!!!
Bringing wat ever from ashes means hard work, commitment and bleeding!!!
Bunch of moronics wanna be investors!!!
This was worth waiting for. Inaction leads to nothing. We should take a chance here, this is a very sound, well thought out plan and would give the L1TF actual work that is work drawing from the pool for.
This is it. We stomp this out, nothing else is in the works.
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Bruh. This is lunacy.
You described how you would death spiral v2
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This is most stupid proposal of all!!!
Literally all in favor wants others to fix lunc, patetic!!!
Why dont u all face reality!!!
1 - Reenable the lunc ↔ ustc arbitrage but to a value lunc value can hold like 2 cents of ustc
2 - Recode the arbitrage with a tax for both lunc and ustc
3 - Make the arbitrage tax dinamic so “if” peg under value on ustc side tax is higher and on lunc side tax is lower, then viceversa “else” peg over value on ustc side tax is lower and on lunc side tax is higher
4 - Send all tax from arbitrage straight to the burn wallet
5 - When stable peg to 2 cents move by community proposal to 3 cents, and so goes on
6 - Example, people will come to terra station to get a profit when using the arbitrage
but will have to pay an x% of tax arbitrage
Case ustc under 2 cents
arbitrage have to burn ustc to do so have to mint lunc
with new tax arbitrage in both sides burn of ustc will be higher +x% and mint of lunc will be lower -x%,
that add to ustc and that cut of lunc goes to burn wallet +x% of ustc and lunc (yes, arbitrage will ask for
more ustc +x% and will give less lunc -x%)
Case ustc over 2 cents
arbitrage have to mint ustc to do so have to burn lunc
with new tax arbitrage in both sides mint of ustc will be lower -x% and burn of lunc will be higher +x%,
that cut to ustc and that add of lunc goes to burn wallet +x% of ustc and lunc (yes, arbitrage will ask for
more lunc +x% and will give less ustc -x%)
And remember over all of this goes the 0.2 % on all txs, which means more network usage (but expensier)
If u all kids keep playing shits lunc will gain not a zero but two!!!
Bringing wat ever from ashes means hard work, commitment and bleeding!!!
Bunch of moronics wanna be investors!!!
بنظر من باید ازجایی شروع کنیم نمیشود بی حرکت بایستیم لطفا استارت کار رو بزنید سرمایه باسرعت میاد مردم و صرافیها کمک میکنند مطمئن باشید.
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Btw, the tax have to change considering the arbitrage reward, the current amount of arbitrage txs and ustc peg value. So the tax increment with higher depegs and reduce with lower depegs.
So will be x% = x% + arbitrage_reward_weightx% + current_amount_arbitrage_txs_weightx% + ustc_peg_value_weight*x%
arbitrage_reward_weight : fix value according to arbitrage reward stages
current_amount_arbitrage_txs_weight : fix value proportional ratio to overall network volume
ustc_peg_value_weight : fix value which reduced with peg stages, the thing is when ustc peg increment lunc and ustc supply are supposed to reduced
I hope the CEX’s agree to this, good luck.
4 Likes
the proposal is not passing we need more “yes’s” Idk what the other half who voted no thinking, yes is risky but burn alone wont do the job
One year has passed folks and we can keep debating on this for the Next Decade. We need to keep the ball moving forward and learn at every step we take. Sure this proposal in not perfect, no proposal will ever be, but it keeps the ball bouncing forward.
If you have concerns, clearly state why and maybe it can be addressed here.
If you want to see this pass, raise your voice and vote Yes.
4 Likes