This proposal signals Binance to start burning USTC. Currently, Binance burns 50% of LUNC monthly, and we are asking Binance to also start burning USTC monthly with the remaining 50%. By having the largest cryptocurrency exchange in the world to help burn the circulating supply will directly contribute to the success of the re-peg of USTC to the USD. With Binance burning USTC will not only speed up the repeg but will also raise the value of LUNC. This joint effort can also attract other large cryptocurrency exchanges to start burning USTC as well. If proposal 11784 Stop USTC minting and reminting passes and will no longer be allowed without approval from the community and thus opens the door for these large institutions to burn USTC which will be a big benefit to investors that hold either USTC or LUNC. By voting ‘YES’ will signal the LUNC Community wanting Binance to start burning USTC, and support the repeg. By voting ‘NO' will signal the LUNC Community not wanting Binance to burn USTC, and to continue as normal.
Submitted
14 Sept 2023, 11:43:49 UTC
Vote closed
21 Sept 2023, 11:43:49 UTC
Delivery proof needed
The vote records approval, but manual deliverables still need independent evidence.
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.TextProposal48.40% participating
Approval
Passing
82.27% decisive Yes
Veto
Below threshold
0.14% of participation
What this message can change—not a prediction of price.