We all get FORKED if they fork! Then there will be anger and lawsuits for years. I personally will abandon our project we’ve been working on and go to SOL.
Everyone can make money if the Buy and avg down with Do and the Team promoting their support of Terra as it is today! How can anyone be mad if they can buy for less than a penny and it’s trading at $1 next week??
Turn a bad situation into a great story, just indexed at a lower price!!!
But it’s even bigger than that. The entire crypto space will be damaged if this happens.
Do needs to get in the trenches with us and buy next to us. Or else it feels like the big guys screw the little guys again!!! My Opinion
I think maybe you are on to something, but maybe a tweak or two. Dedicate the 1% or even 1.5% tax to auto buy of UST??
I do think UST can be saved at the same time. So we buy buy buy and burn burn burn LUNA and UST will follow.
This is what the market wants!!! Look at the charts right now, people have hope, just need to team on board publicly and it will MOON!
I think it’s a good idea. Let’s do some math for reasoning purposes:
assuming a medium 24h trading volume of 3 billion $ (3G$), the daily burning of supply, at 3% burning tax, would be 90M$ that, at 0.0001$ price is 900 billions LUNA (900GLUNA).
The total LUNA excess supply is 6.5 trillion LUNA (6.5TLUNA). How many days to burn this excess supply? Let’s see:
6.5TLUNA/900GLUNA$/day=7 days is a theoric time for burning the excess of supply.
A reasonable time…
If the LUNA price is 0.0005$ (today price) the burning time is 5 fold shorter.
See top 27 addresses in the below link. They own more than 880 Billion tokens. 26 addresses with more than 31B tokens each, same number to the last decimal point. Terra/Luna team should tell us if they have control on these addresses and if yes they should burn these tokens
tbh I 100% agree with the proposal, perhaps burn slowly so no one can exit and so that eventually the project and community can benefit. And truth be told I know ust holders got rekt too but no way near as luna’s community, they’ve suffered the most downside afterall