According to the proposal created for discussion (https://commonwealth.im/terra-classic/discussion/12924-reopening-of-the-market-swap), I ask the entire community for permission for the L1 team to merge the maximum limiter code (https://github.com/classic-terra/core/pull/315) for the test environment and test the functionality, to verify if it is effective, if it is effective, another proposal will be created for voting approved for merge without mainnets. The tests must be carried out immediately, as we have already lost a lot of time with the closed market swap and this is generating a devaluation of our currency and fewer transfers on our blockchain. Questions from the L1 team and Quants as per Vinh's reference (https://commonwealth.im/terra-classic/discussion/12840-l1-terra-classic-sprint-2-report) "Regarding the proposed LUNC limit item in the first L1 month, we investigated the matter and realized that it is too big a risk for tokenomics. When limiting LUNC uncovered: 1. The network should not mint more LUNC in each block. This has been the main source of income for delegates, validators and the community group. Without this important source of coinage revenue, we cannot imagine what kind of damage will be inflicted on the chain. 2. USTC exchange does not work properly when USTC exchange is re-enabled. If the LUNC is capped, no LUNC will be issued to the merchant during a USTC exchange. Conversations with USTC staff have been conducted regarding this LUNC limit issue. We've been advised not to progress further until the USTC's supply drops sharply." I did some testing and feedback and I believe these issues are already resolved as it is only limited in the exchange market. Follow my considerations https://commonwealth.im/terra-classic/discussion/12999-considerations-before-submitting-theproposal-reopening-of-the-market-swap. Personally I believe that with market swap we burn billions of tokens a day. By voting yes for the test merge the entire community has an opportunity to bring our ecosystem to life. By voting, we are not missing an opportunity to reopen maket swap safely! Thank you all! May peace reign in the community!
Submitted
04 Sept 2023, 13:58:12 UTC
Vote closed
11 Sept 2023, 17:22:16 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.TextProposal72.32% participating
Approval
Below threshold
44.05% decisive Yes
Veto
Below threshold
0.04% of participation
What this message can change—not a prediction of price.