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WEN #USTC RE-PEG??? WEN #LUNC $1???
#LUNC community, it seems to me that some of you are taking the #USTC re-peg too simply...
A new USTC proposal appeared on the Commonwealth forum and you are already asking me when you will be able to vote "yes" in Governance?
I understand that you see this as an immediate opportunity to increase the value of your investment, but we cannot afford to look at it only from that perspective. We have to be very responsible in this matter...
Well, I don't want to disillusion anyone, but this topic really needs a lot of thought and discussion... It won't happen overnight. We have to take into account the fact that there are extremely high risks involved...
One of the biggest risks in this case is the minting of LUNC and USTC coins. This risk carries with it potential negative impacts not only of an economic type, but also of a reputational type.
The "99.99% #LUNC BURN" narratives may hit a very hard and thick wall here for one simple reason - For the #USTC re-peg, it is probably absolutely NECESSARY to expect the need to mint coins.
Why is it like that? Because this is the main principle behind the operation of the USTC-LUNC mechanism... (Search for information on how this system has worked in the past.)
On the other hand, "INCREASED UTILITY" narratives can see a huge potential in this matter... Because, yes - re-peg USTC would bring with it a huge increase in utility for this blockchain.
I believe my honesty is the best way…
So... I have thoroughly studied this proposal and despite my best efforts, I cannot 100% say YES or NO to this proposal. And I honestly don't think there are many people in the #LunaClassic community who can even understand this proposal...
Despite a lot of effort and despite already having some knowledge on the subject, I myself have quite a bit of trouble understanding all the risks of this proposal. Not many people will publicly admit that they don't understand it, but trust me, most people don't understand it at all. The problem is that some of them will shout the loudest…
This proposal raises a lot of questions... It is really necessary for experienced people to discuss this matter and explain all the risks to the public very effectively. We need less populism and more honest discussion.
This is going to be a very difficult process because there are several different people with opposing views and there are also several factions that want power.
So we are in a very complicated environment, we have a very complicated proposal on the table, which carries with it potential risks, and at the same time we have a political fight that can distort reality very intensively...
Add to that the fact that 99% of actors in the #LUNC community appear as untrustworthy fairy-tale creatures with a fake name...
It will be really difficult to find your way in this chaos, where the dominant factors are:
1. technical specification of the proposal and complexity
2. people's desire for power
3. political fights between factions
4. anonymity and untrustworthiness
Another step towards relaunch completed.
@_Terraport_ bug bounty live today complementing the overall security strategy.
✅️ Bugbounty
✅️ Certik Team GOLD KYC
↪️ Certik Audit... finalising with newly deployed contracts.
Well written article by @ColeStrathclyde about rewriting the 'burn tax' to make it easier for other builders to deploy on #TerraClassic.
I also completely agree that code should be written, and tested before proposals are written.
@frag_dude
https://t.co/7u7iaTjHJ8
I published an article regarding the proposal to change the implementation of the #burntax on $LUNC
https://t.co/aYpBp7NXDu
It is quite long, but information is needed to make informed decisions. If there are things you don't understand, please let me know. #LUNCcommunity#LUNC
Things Upcoming For #LUNC
- Dynamic Commission Module
- No More #USTC Minting
- Tax Rework Implementation
- Pay Per Job/Governance Based Job List
- Station V3 Support
- Website & Docs System
Bullish Yet?
Never thought I'd be the one to say this, but the #LUNC still has a lot to learn from #LUNA...
The approach to work, management and progress is absolutely incomparable...
I work for #LUNC, but it makes me wonder if we are benefiting from this "illusion of decentralization"...