Why focus on burning LUNC?

General
1

From my understanding USTC is the one that should be buy and burn not LUNC.

Buy and burn LUNC now when network resume it will gennerate more LUNC.
Buy and burn USTC now when network resume it will gennerate less LUNC.

I Think Terra classic MUST have own Money Pool(collect from chian activity) to buy back USTC and burn. Once the excess USTC gone it easy to fix LUNC

2 Likes
2

If we burn all the excess USTC back to its original state does that reduce the LUNC to it’s origional state as well?

3

Everyone sell and d.ump ustc so buyback and burn becomes more feasible

4

Ya some proposal address this and ideas about luna ust minting, some with making a new bond ust to paid back later to help bring in funds and debt repayment etc. Right now the mint/burn on chain mechanism on terra classic is of, so the correlation of ust and luna is also “shut off” for. Burning just to burn seems a hope without a clear plan. Clearer plan and steos to bring back value to luna ust or both I think better route, maybe burning included dunno yet not enough info.

5

LFG still have 1.85b UST… not burned.

6

I doubt burning USTC has any impact on LUNC supply at the moment except USTC is used to buy LUNC. As it is now, the core team led by DO KWON doesn’t understand what to do with Terra classic now. It appears abandoned as most of the project on the old LUNA have now migrated off the chain.