Just in: Terra's governance proposal to burn 1.38B UST from the Community Pool has officially reached quorum and will pass in 18 hours. This burn will reduce the total UST debt overhang by 11%. https://t.co/vWRFLkumXd
@Nerd_NFTLabs Since seigniorage is off, the two should trade relatively independently as opposed to the by-design parasitic relationship between LUNC and UST that was present earlier - there won't be any direct effects on LUNC, only UST.
7. What can we do about this?
a) Share this thread with people so they know how much TFL took from you.
b) Quite soon I will release a tutorial on how to bankrupt TFL via legal proceedings and get everything back... Speaking some amazing lawyers from the community.
Stay strong.