We need a vision: STABLE COIN WITH NO INFLATION

Governance & Proposals
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The other option of TerraClassic stable coin

At this moment, Terra Classic primarily needs a VISION. The community needs a clear vision above all else. Until recently, we had the TR RoadMap, which appears to be no longer relevant since no one mentions it anymore?? This ‘Road Map’ served as the community’s vision and united it. Now, as an investor, I don’t feel that our blockchain has any vision. While the bull run begins and many coins happily move forward, LUNC is somewhat standing still… as if everything is chaotic, directionless… like ruins. I understand that the L1 team is doing a big work at the primary level. However, the community needs a VISION at this moment! The community is essential to the success of every blockchain. If people give up and the community falls apart, we will probably face a sad end. Therefore, we all need a VISION. It is not enough to talk about many small activities & builds that will take place on our ecosystem. TerraClassic needs a ‘main job’ - as DJTrev would say :-). We would, of course, get short-term acceleration if we burned excess supply. But in the long run, TerraClassic needs clear recognition in the crypto world.

I voted for reepeg USTC, although I am aware of the risks. But I do not agree that LUNC should become a meme coin, so I am prepared to risk.

Regarding the stable coin (if repeg could not be done), I have a slightly different idea that might be attractive and recognizable in the crypto world, mainly very useful for crypto adoption. I am not a programmer myself… actually, I come from the world of art, so I apologize if I assume something incorrectly or am I oversimplifying things. However, it is a basic vision that, of course, requires professional implementation.

I believe that it is time for CRYPTO to draw a clear line between the traditional financial world - traditional banking and to move onto a completely independent and self-sufficient path. I believe that we need a STABLE COIN that is no longer tied to FIAT. A STABLE COIN that is just STABLE - and HAS NO INFLATION!
STABLE COIN WITH NO INFLATION. A stable coin that maintains value (for example, the value of labor, goods, energy…). The value could be determined based on a ‘basket of standard living costs’ or something similar. This stable coin should not be tied - backed to banks or other centralized institutions, but should maintain its value similarly to USTC (with code … ).

Such a coin - without inflation - would be extremely useful for people and important for crypto adoption. Just imagine money without inflation and no volatility. In this case, repeg is not an option. Otherwise, the coin without inflation would catch up with and surpass the value of one dollar anyway. And this stable coin must be ‘untachible like Bitcoin’.

We should only take care of some sort of crypto debit card that would allow the use of this coin in everyday life.

I think that ‘TERRA CLASSIC STABLE COIN WITH NO INFLATION’ would greatly contribute to the crypto adoption and much-needed vision and recognition of Terra Classic in the world and helps every-day people all over the world.
It’s name could be TerraStable (STABLE). :wink:

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Yes but this could go into the Category called General.

If you are not planning to create a “Proposal” or a “Governance” change in the technical functioning of Terra Luna Classic, you could create this post in the General category.

In this category we are looking for actuals that we need to decide on immediately so that the change or the proposal can be passed.

I would recommend deleting this post and creating another one in the General category or Edit this post and select the category General.

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@Marko_Tusek I don’t agree that there is no vision, I think a small amount of investors including you are just expecting this to turn overnight back to its former glory, when realistically a lot of backend work was needed to be done, this isn’t visible, but it’s essential, it forms the foundation for which utility and interconnectability can be used.

I noticed you didn’t mention Duncan’s work on the re-peg of USTC, this is from his twitter he has this pinned:

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Also his discussions are quite in depth specifically with dedications to multiple methods on these very forums.

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Duncan - is last 1.0 hope. And we can help him, help ustc. To do this, we need to burn Oracle ustc (this will simplify the repeg by ~15%) and block, add a 100% tax for TFL wallets (this will reduce the risks).

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I know that a lot of work has been done, which is often invisible. I highly respect that. I am very grateful to everyone who contributed their work. I don’t expect changes to happen overnight. However, I want to draw attention to the picture of LUNA as seen by those outside - the majority of the community - including me. Previously, the TR RoadMap functioned as a concept - a vision for the future and we all saw that RoadMap… Now we don’t have these visions publicly displayed… and that’s a shame because the community will slowly start to lose interest. As I mentioned, I also voted for repeg, but I don’t know the status of that project at the moment. What I wanted to highlight with my proposal is the problem of TerraLuna’s “new recognition.” We need to find a new, recognizable identity. I’m not convinced that ‘simply’ getting everything back on track is enough. TerraLuna has a meaningful (and ominous) history. Therefore, we must clearly demonstrate that we have not only risen like a phoenix, but we have also thought things through, improved and added innovation. TerraLuna was once considered innovative at its core, and we must continue that tradition of innovation, albeit perhaps in a slightly different way… And yes I respect all your work.

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This article lacks, besides an actual proposal, it lacks described mechanics how you are going to create a stable that has no inflation.
No mention of the funding sources, who, when, why. It would be a feat onto itself. As it would still be tied to fiat currency, which in essence, is inflationary.

And besides that - it has quite a few biased flaws and goes from what this chain needs to what Crypto would need.

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almost sounds to good to be true…

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This proposal is meant primarily as a content proposal that attempts to give meaning and a clear identity to TerraLune’s recognition in the crypto world. In the phase where we are discussing the vision and concept, we cannot yet define how we will realize each step. That will come later. When I speak of a stable coin without inflation, I primarily mean that with this coin, you could always buy the same amount of goods. When banks provide loans, they know several ways to revalue installments. The lessee of the loan can choose this method. One of the most realistic methods of revaluing installments is based on a “basket of standard living expenses,” which is calculated by the statistical office every month. Our stable coin… let’s call it STABLE, could, for example, always be worth exactly one “basket of standard living expenses.” This way, today or 7 years later, you would get the same amount of goods for it. As I said, my proposal is of a substantive nature, but how to achieve this is probably a question for a software expert. However, the coin must not be tied to banks or other centralized institutions. Everything must be in the algorithm.

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The thing is - while you are simply talking of something that retains value (i.e. - gold in the real world is bought due to it retaining value over time. Store of value. Nothing new.), you fail to even conjure up one instance on HOW we could back this up.

There’s many dreamers out there, but in this here real world - we are limited by what we own, what we can acquire and what we have the funds for

So, again, the proposal part is missing. :slight_smile:

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The problem is that ordinary people earn money, but the state “steals” some of the value of that money through money printing (inflation is just a hidden - additional tax that the state - the system takes from us). My proposal is mainly a concept - a vision to offer people a coin that preserves the value of their earned value. I think this would be fair, as governments and traditional financial systems (banks) benefit from inflation.
I also emphasize that I am aware that the implementation of my proposal is incomplete. I myself do not have all the necessary knowledge, but I want to encourage our community to contribute their knowledge and expertise if they agree with the substantive part of the proposal. I realize that things are incomplete, but instead of criticism, I expect constructive additional proposals and considerations.
“A similar crypto is PAX Gold, but it is backed by the real value of gold. If the entities controlling this gold reserve encounter any problems, PAX Gold will also be affected. Similarly, stable coins backed by bank backup are also at risk. We can already see this happening recently. The system of ‘basket of living expenses’ is already established. This is not just a dream, but wide used reality. Statistical offices of many countries regularly calculate this value, so we could use this value as a STABLE POINT. However, I do not know how to create an algorithm that would keep our ‘STABLE’ coin at this value. For example, if someone buys 1 STABLE (one basket of standard monthly living expenses), tokenomics would be needed to maintain this real value from month to month - similar to what was done with USTC. I would need help with this task as it is for programmers.
In short, I would like to have a constructive discussion about the feasibility of such a vision and practical suggestions. If I were able to come up with everything myself, I would not have put this proposal on Agora but on voting. Therefore, I expect your constructive opinions and additional suggestions.”
‘Dreams are the foundation of change.’

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So you admit this is not a proposal, but a general discussion piece on the feasibility on the matter.

Currently - due to regulations, lack of utility (the need for it) and lack of any sort of angel investments - your general idea of making a stable into a store of value is a non starter.

If you have something specific on the matter that can make it into a reality, par any sort of fever dream, then we could look at it.

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Addendum: And after all, maybe …,the management of this stablecoin could possibly be supported by AI technology (especially since we have Ed as an expert in this field among the developers)?? Thus, Terra Classic could have the first AI-driven Stablecoin, which would be very atractive in the crypto world and important for the recognition and new identity of Terra Classic.
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