Only solution is overcolletarilized BTC reserves for stable coin.
The purpose is to keep it decentralized and debt free. BTC is should be ground to build it. In the long run, community reserves increase in value because of inflation and overprint.
The lunc value comes from transaction tax, the ustc transaction tax will be only used to buy more btc. In order to start this we need this process on chain automated with BTC reserves. Decentralized reserves linked dex.
Solution easy - massive ustc burns plus working ustc apps.
Yes. We really need ustc burns, supply too much.
How about pegging 100 USTC to 1 USD, as we gain funds from fees we can accumulate enought to peg it 10USTC to 1USD and then progressively 1USTC to 1USD.
1USTC would be basically 0,01USD and burn/mint meachanism could continue to make its work with LUNC. USTC would became long term investment and wouldnt have much sell pressure if it can go x10/x100 afterwards.
Burn does not create value. To revive the USTC, we need to raise reserves instead of coin burn. But if you start with the ground zero, the value of the USTC goes down. Because the coin price is evaluated by the value of the reserve. It is impossible to re-peg unless a huge fund comes in at once. The reason why people are calling about cz.
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Burn is good for repeg if you true applied.
Binance lunc ustc busd trade fee all go burn for lunc this bad for ustc
And dont need up pool for ustc need only burn tax and ‘oracle pool, anchor wallets, ozone wallet, lfg wallets’ go burn it after more easy to repeg for tax burn
Ahh i now theres have stealer dont want to repeg only steal 3-5 ustc real brainless
It’s true that we have to restore the peg - or, rather, just push the price of UST to 1$ or above. I have provided a solution in a separate thread in “General” category.
I think you may be on to something here. You’re 100% correct, a burn doesn’t do anything for price action – it just lowers circulating supply. The chain right now has a tax in place. Why not have a portion of the tax be used for recollateralization of USTC? Im sure a pool could be created for that purpose and when balances are high enough, BUSD, USDC/T, and BTC could be purchased for the sole purpose of collateral with those. This in conjunction with a refined market swap module should allow the system to eventually correct itself.
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The best idea so far is to create a pool and make USTC backed by a collateral asset; I believe we will need to raise the tax by 0.1% and send it to the USTC pool, and reprice USTC to reflect its value in that pool. We need roughly $98 million to page USTC to $1 cent with this supply. If we start backing now, the fastest page will happen, and then we can turn on mechanics, which is behind LUNC project… I think we need to start somewhere.