Terra community discusses the idea of implementing a 5% tax on every luna transaction that gets burned https://agora.terra.money/t/proposal-burn-and-remedy-tax-with-each-luna-transaction/12176
>>48800450Great, no different than any dog coin with a burning mechanism kek
>>48800450>Wouldn't that be wonderfulNo! It's gay!
So Safemoon then?
Pantherswap bros, we back
>>48800450Damn Luna is really evolving into a shitcoin
Luna bonk inu lamo
>>48800487Have you seen Shiba at it's finest?
>>48800640Its the Only way to make it with fomo and shitcoins
>>48800450Holy fucking kek, it's actually turning into a dogcoin at this point
>>48800450That's great, late buyers from reddit will help drive our Luna up even further.Not only are they paying loads of money for a dead coin, they're also involuntarily burning the coins they do buy.
did you see Do Kwon's Terra ecosystem revival plan? He's going to reset the chain to 1 billion tokens and distribute to holders based on a snapshot before the crash... doesn't this mean that every who has bought LUNA after the crash will be wiped out?
>>48800450NO! 1% or less. Unless they can change it back to 0 later after everything burned
>>48800640Always has been
>>48800714that proposal got rejected by community kek
>>48800450>Bro it really is this easy to fix the problem. Lmao I hope they burn and pump my gains harder. But they are fucking insane If they think the token can be fixed after this. Take the loss and leave
>>48800640People won't buy a token that is 100$ however they will buy a token that gives you 100k for 1$
>>48800818did it officially get rejected? the majority of comments are shitting on it(even CZ is shitting on it) but doesn't there have to be a vote?
>>48800450Can we have reflections too like fucking Safemoon? Kek
>>48801081Wait, I didn't read it, it actually proposes Safemoon-style reflections. Fucking lol
>>48800950I'm not sure if it needs to be voted on. But if CZ is not on board with the proposal it'll get rejected.
They should rebrand to a logo with a dog howling at the moon. Embrace the shitcoin status.
>>48800950NuLunafags own 99.99% of the tokens. Redditors that lost all their savings can go fuck themselves, we run this shit now with our $10 stakes.
>>48800950being publicly told by the worlds most famous crypto legend that your plan is retarded and here's a better plan is about as official as it can get until he says it himself. but that's the direction its pointing towards
If they're trying to burn the supply, wouldn't it make more sense to pretend the token is dead so that it plunges in value, buy billions for pennies and actually burn it all at once.
>>48803598Buying it on pennies & implementing high taxes are the fastest way for it for sure.
>>48803986The difference is that they aren't officially burning it, so people are taking a bet by hodling. If you told them you WILL eventually buy whatever they have at whatever price they want, they will have no reason to ever sell.High tax is basically admitting they will buy it, but also reduce liquidity because people don't want to burn and cause deflation that will benefit only the hodlers.
>>48800671Ok, I just bought myself a bag
In a couple of weeks they'll accept it or get the rope.This shit is never going to recover ever again.
>>48803340Don't understimate gook won's stupidity, despite being publicly humbled in the most humiliating way he's still arrogant af
>>48804124> If you told them you WILL eventually buy whatever they have at whatever price they want, they will have no reason to ever sell.Terra has to say out loud soon enough regardless - a forked (copy-pasted) nuTerra will be attacked again & this situation will repeat itself, even with new security measures.It's a costly road for sure, but one that must be done, because everyone will otherwise expect a new attack to knock off nuTerra & that will be its stigma forever. Besides, the fact that their one-time compensation is worth of a sack of peanuts, which can be knocked off from people's hands again, is not going leave any positive future expectations for the people Terra crew wants to compensate.There's no other road out of this but a costly buyback process, taking years. But it will preserve people's faith in the system instead of viewing it as a pump & dump scam.
>>48803464Yeah.It seems as though most /biz/ even has some sort of sick admiration to (((them))).Can't imagine anything more cucked than that.
>>48804512>But it will preserve people's faith in the system instead of viewing it as a pump & dump scam.But what will prevent the exact same negative feedback loop between LUNA and UST from happening again?
>>48804868UST will be axed, it's unsalvageable at this point & will be replaced with a new algo-stable that has collateral.That's what's necessary for short term, in long term the system can return to what it was once all necessary security measures have been implemented. And collateral kept in the background for a case of emergency.As an example, they already patched in LUNA minting halt, which will stay for a foreseeable future.There are ways to solve this algo-stable functionality question once you're secured for a mid-to-long term with a backed stablecoin & solid plan to save the "asset" that people care more.No one cares whether their UST compensation is USD or USDC at this point, they just want an equal number of money back.It cannot be achieved immediately, but in time the project can get there - if they hold onto the trust they have established for their system already. In the end, it was just an algorithmic exploit, but prior to that the system was appraised. The concept has proven itself to an extent, now it's time to fix the broken axis.
>>48800450great do it
>>48800534just give 1% of your gross to the unfortunate broits crypto, its private and decentralized isn't it wonderful
>>48800450by doing this, whales wouldnt put a single dime on it, imagine been a whale and everytime you go in and out, you lose 5% of your huge stack. going full communism in crypto is not going to work.
>>48800450SAFE LUNA!!BIGGER THAN GME DOGE AND SHIBA...COMBINED!!!>STOP THE WALL STREET WAR ON CRYPTO!!!IF LUNA DIES FREEDOM DIES.