Terra Classic statsLUNC · USTC · ON-CHAIN DATA
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This is a proposal to request that exchanges which currently have LUNC trading pairs, add a 'Burn' option under their LUNC pairs for the user to be able to voluntarily burn LUNC, and in return the user receives a USTC amount on their account that is approximately five times the number of the U.S. dollar value of the LUNC that was burned (e.g. the user receives approximately 500 USTC, after submitting $100 worth of LUNC to the burn option). The reason for the user receiving USTC as part of the burn is so that if USTC is eventually repegged to $1 and the user has kept the USTC, the user will get back the U.S. dollar amount that they lost by burning LUNC along with a profit. The Burn option will be the first option that is visible in the list of trading options (e.g. Limit, Market, Stop Limit) on the trade page, so that all users will be able to see it as a new trading option for LUNC. The Burn option will only be able to be executed as long as the market price of USTC on the exchange is $0.10 or lower, at the time of the burn attempt. This proposal also includes a request that the exchanges that choose to have this unique LUNC burn option available, also publish monthly reports on the LUNC token burns from their exchanges. These reports will aid the Terra Luna Classic community in monitoring the progress of voluntary LUNC burns on these exchanges, and will show the total number of LUNC that was burned by individual users on the exchange within one month (i.e. not including LUNC burned from the burn tax, or any LUNC burned by the exchange itself such as Binance's burning of LUNC trading fees). The reports will include the total number of users on the exchange that burned the total number of LUNC within the month, the average number of LUNC tokens burned per user within that time frame, and the number of direct LUNC withdrawals by individual users from the exchange to the LUNC burn address. In addition to these reports, spreadsheets will also be made publicly available that show information such as each exchange account that burned LUNC within one month (by their exchange user ID), and the total amount of LUNC that each account burned for that month. Vote YES if YOU SUPPORT this proposal. Vote NO if you DO NOT SUPPORT this proposal. Vote ABSTAIN if you are NEITHER FOR NOR AGAINST this proposal, but wish to help this proposal REACH QUORUM. For more information about this proposal, please read the following Commonwealth thread here: https://commonwealth.im/terra-classic/discussion/13330-operation-zhaoburn-community-burning-proposal-for-a-lunc-burn-option-on-exchange-pairs Members of the Commonwealth platform can also reply in this thread if they have any further questions about this proposal, or wish to raise any issues with this proposal.
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REJECTED · Voting deadline
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Submitted
29 Sept 2023, 02:19:36 UTC
Vote closed
08 Oct 2023, 15:07:30 UTC
Not approved
The proposal did not produce an approved governance action.
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A reported PASSED status for routed protocol messages is consistent with successful governance handlers in supported SDK versions. The production fork and its version at execution are not independently established here. A text mandate still needs delivery evidence; a requested treasury payment is not a reconciled recipient payout.
Current block response metadata
Reported response header height: 30752919 · reported
Public requested / response origin: Withheld or unavailable / Withheld or unavailable
Node info response metadata
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Manual success criteria required
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/cosmos.gov.v1.MsgExecLegacyContent/cosmos.gov.v1beta1.TextProposalReported response header height: 30752919 · reported
Public requested / response origin: Withheld or unavailable / Withheld or unavailable
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The model uses SDK0.53.6/math1.5.3 fixed18-place quotient and half-even rounding on reported integer aggregates. Quorum allows equality; approval and veto require strictly greater shares. Expedited approval uses its separately returned expedited threshold. Missing supported SDK/rule/threshold evidence withholds decisions. Internal fractional voting power and production custom tally logic are not reconstructed or independently established.
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Quorum
Not available
Participation unavailable
Approval
Not available
1.54% decisive Yes
Veto
Not available
0.05% of participation
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