OUR BURN FOCUS ON USTC
Deflationary measures are needed to help increase the price and value of our tokens for now which are TERRAPORT USTC AND LUNC. The trio needs one another to have good success. To bring back the good old days of LUNC, a great deal of deflationary measures have to be introduced some are the repeg of USTC, bringing in of utilities to the chain amongst others. TERRAPORT with a well committed dev team and group of professionals playing different roles have been working tirelessly to relaunch the token and bring well meaningful and impactful utilities on board which will deflate not just TERRAPORT but USTC and LUNC. TERRAPORT in the first week of opening burnt well over 100million of LUNC and over 40k of USTC but the impact is really not felt on the LUNC price because of several factors. However our major hope on restoring LUNC today will be to repeg USTC and the utilities coming to TERRAPORT. The USTC repeg is our best chance of reducing LUNC supplies and as such I believe more attention should be given to the repeg of USTC than LUNC supply in the short run. On this premise I am proposing that our weekly LUNC burn shld used to purchase USTC and burn it to facilitate the repeg while the burning of TERRAPORT remains constant. If you are in support of this proposal give your nod by voting “YES” and if you are not in support give ur vote by saying “NO” and if you are indifferent vote “abstain”
I add another vote in this discussion, namely “no with veto”.
For me it’s an absurd proposal, proposed over and over again on terraclassic.
For the ustc repeg, there is already a team working on this who is paid very very handsomely.
Burning ustc by terraport by purchasing ustc with lunc’s burn will not change anything, it is like taking a drop from the ocean with the aim of drying it up. it has no effects, not even in the long term.
To conclude, in summary, the burn is already there as a basis for USTC and LUNC, for the repeg there is already a professional team at work that is paid.
I don’t like wasting more resources.
Bro u right in ur way but I think u no getting the point, is there a team working for repeg? Yes. Are they paid for their job? Yes but does that stop us from helping to reduce the supply of USTC No. If that’s ur point they we shld not burn USTC at all and leave for the repeg team. Everybody have a role to play. Our role is to try and help reduce the supply, their role is to repeg. Shld we sit and not do anything cos of the team? No. Over 100million LUNC was burnt in the first week of launch. But what’s the effect in 6 trillion almost nothing, now imagine if that 100 million was converted to USTC and burnt we talking about removing almost 500k of USTC from it’s supply. Which is more impactful a 100 million from over 6 trillion or 500k from 10 billion. Let’s all focus our energy on USTC everybody and when the repeg is done we concentrate on LUNC. It’s a race against time