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Faced with new proposals to restructure the UST and reduce the supply of LUNCs, the Terra Classic community split into two camps.
As report Yesterday, by Crypto Basic, a new proposal created by some members of Terra Rebels proposed to launch an Algorithmic Fungible Token (AFT) to rebuild TerraClassicUSD (USTC) and regain its dollar peg. I’m here.
While the proposal promises to burn LUNC tokens faster, buying Bitcoin to collateralize AFT would require issuing 500 billion or about 10% more LUNC.
So, do I need to create more LUNCs to write faster as suggested?
Could you cast 10% of $LUNC Feed it to burn fifty times faster?
Classy (@ClassyCrypto_) October 4, 2022
In particular, this question has split the LUNC community into two factions. Ultimately the community wants faster burns, so some think this is “very easy”, while others like LUNC Burn argue it’s a bad idea. , the latter continues today to campaign against the proposal, stressing that there are no surprises if the proposal fails.
zero consideration $ lunch Zero contingency holder in case of failure, he doesn’t care $ lunch Dear owner, we are simply a bank to fund his experiments.To read this in his own words is unbelievable @4lex_4sh4w_TR #lunch #lunch barn #LUNCCOMUNNITY
LUNC Burn (@LunaBurn_13) October 5, 2022
It’s worth mentioning that another Terra Classic developer, Tobias Andersen AKA Zaradar, is working on another proposal to retire the USTC, which reportedly does not require issuing LUNCs.
In response to a suggestion from Alex Forshaw, one of the core developers, Zaradar, has quite authoritatively argued that no one will create LUNC tokens as long as he holds the reins. If the community decided to support the proposal while those who opposed it rallied in his support, concerns would arise as to whether developers should prioritize their own preferences over the community.
You can modify the USTC without creating additional LUNCs. Don’t let other people’s bad thoughts become my personal problem. Trust me when I say no one will create additional LUNC tokens as long as I am in charge of the code pic.twitter.com/oG2zFREvOO
Tobias Andersen (@ZaradarTR) October 4, 2022
It also highlights the lack of depth in the LUNC development team and the lack of incentives to attract new developers who might replace those who decided to take the chain hostage.
We have two developers working on the core platform and are responsible for the code until the next one arrives. Unless you want to step in and help?
Tobias Andersen (@ZaradarTR) October 4, 2022
Forshaw and Zaradar, in particular, resorted to a verbal battle on Twitter to contrast their thoughts. However, as the community awaits suggestions from the latter, her LUNC DAO, a popular community validator, welcomes multiple ideas and heated discussions as a growth facilitator.
Now is an important time $LUNCIt is very positive that many suggestions have been submitted to fix it $USTC
Feedback from the community (both logical and purely emotional/narrative) allows us to refine these plans and move forward together as a community.
(@LUNCDAO) October 4, 2022
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