The market cap of USTC is 123.5 million USD. Todays volume for USTC = $10.6 million USD Lunc = $9.6 million USD If we put 1 percent burn on both USTC and Lunc volume, and used both percentages to burn USTC. It would take at current volume 305 days at current volume to burn the total market cap of USTC. Obviously you adjust when we get USTC to repeg, and modify the burn after repeg to burning Lunc. Math below $10.6 million USD (USTC volume) + $9.6 million USD (Lunc volume) = $20.2 million USD (total volume for Aug 26, 2023) $20.2 million USD x .02 percent (1 percent for USTC and 1 percent for Lunc) = $404,000 USD per day burned of USTC at current volumes. USTC Market Cap = $123.3 million USD $123.3 million USD / $404 thousand USD = 305 days to burn all of USTC at current volume. Volume is very low by the way if Lunc had higher volume it would be much faster. If the CEX do not agree to burn the 1 percent volume for both USTC and Lunc, maybe we could consider black listing their wallets, I am not sure what is possible programming wise in that regard, however we could work on that in another proposal. This proposal is costing me 1 million Lunc, around $60 bucks USD so please respect that and actually think about implementing this. Thank You The Original Opinion
Submitted
26 Aug 2023, 18:08:09 UTC
Vote closed
02 Sept 2023, 18:08:09 UTC
Not approved
The proposal did not produce an approved governance action.
Current or final voting power, calculated from the on-chain tally.
Quorum
Reached
Objective network measurements at vote close plus 7, 30, and 90 days. Missing history is shown honestly, never backfilled with estimates.
Manual success criteria required
This proposal does not map cleanly to a chain-wide metric. Delivery evidence must come from its stated milestones.
/cosmos.gov.v1.MsgExecLegacyContent/cosmos.gov.v1beta1.TextProposal42.92% participating
Approval
Below threshold
3.27% decisive Yes
Veto
Below threshold
3.32% of participation
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