Kwon sent them to the exchanges and then to personal wallets. Instead of protecting the peg.
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It would have been like throwing money away. To protect the peg it was not enough to inject money.
Making useless reports is a waste of time when you could be working on what really matters.
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That is incorrect. Arubasu isn’t an L1 dev, so the second most useful way he can spend his time is keeping them accountable.
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Since I am currently not working for anyone, or no one has employed me yet, I will have to concentrate on my proposals and not waste time with LBA and others.
I’m sorry Rabbi but you will need to find someone else for this.
This proposal will go for voting and this is serious business.
I am sleeping at 5am every day and I do not have time for all this right now.
P.S. If I am not a L1 dev, then I think you should retain the few that you have.
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Cheers.
Krishna will remember this, ser. Not good karma.
You do realize Redline already has a USTC prop up, right?
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I will definitely get back to checking what the L1 Team is doing once this goes for a vote. I have honestly been working on this proposal and didn’t get much time besides doing this.
It’s taking time cause I literally went and issued a new coin on the Cosmos testnet, tested it, then went and wrote code again to issue a new coin as tokens using a smart contract, this time directly on Terra Luna Classic. When I was sure it works in both ways, I am now preparing to put this for a vote.
I had been writing extensively and expanding the plan further - trying to bring back the arbitrage opportunities that used to exist with the Terra coins.
Redline is taking a different course for the repeg and he is concentrating on the repeg to $1 while I am concentrating on the entire ecosystem and how to bring more liquidity into Terra Luna Classic.
Mine isn’t specifically a USTC plan anymore since I am introducing a stablecoin to the system and this is a direct competitor to CBDCs.
If we can introduce our stablecoin before CBDCs and especially USDC (before it is introduced to Cosmos), then there is an extremely large market that Terra Luna Classic can capitalize.
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Do you hear yourself?
Redlines prop is not about one dollar for USTC. It’s about repegging all the stables that we have.
Indian rupee being one.
You are focusing on one stable, that doesn’t see much action, thus will be very slow to accumulate any sort of funds, while redline has 20 different stables.
You are introducing a 21st stablecoin.
If.
Your supply of that stable is going to be astronomically low, due to no reserves.
Beware. Soon you gonna be targeted for bypassing governance.
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You are so mentally Ill that can’t identify an irony and come personally attacking. Go find something more useful to do, troll.
Please refer to the following thread for a continuation of this thread. I could not post the entire proposal here again so I had to create a new thread here:
So scared.
I like the plan, really cool idea. I think we should work with the l1 team to make it safe and possibly bring the dream in less than 6 months. I am voting yes.
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Thanks a lot. The community has shown me a lotta love for this proposal. I really appreciate it.
I will definitely try to work out things with the L1 Team so that we can get this done faster than the timeline we are looking at.
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Thnx for your effort and time for this fantastic idea sir 
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Thanks to the entire community which has given me so much support 
I will definitely continue working on this idea and ensure that a stablecoin is launched very soon on LUNC.
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