Zero Coupon Bonds at Protocol Level

Will Terra ever consider issuing zero coupon bonds at the protocol level? So for example, lock up $1,000 of UST today in exchange for x amount of UST in 5 years (interest rates and
or quantity of bonds issued voted on by governance). The interest earned would come from inflation, not burning LUNA. This would be a core change to the protocol. At first this inflationary component sounds not ideal and is somewhat dilutive to LUNA holders but there are many benefits.

  1. Increase demand for UST as investors look for risk free yield with long term guarantees.
  2. Would create a yield curve on Terra and be a risk free asset across time, and even less risk than Anchor from the investors point of view because they know the protocol can print the amount of UST needed (Anchor is more of private business hard money lender).
  3. Decrease risk of sudden capital flight as we can manage the maturity schedule.
  4. Luna stakers can vote on the interest rate. If they decide they don’t want to do bonds anymore they can just vote for an interest rate of zero and rational investors would stop locking funds.
  5. Create a secondary market for UST bonds which opens up new interesting financial applications allowing us to port over more Trad Fi business models into Terra.