PROPOSAL TO BLACKLIST WALLET "TERRA1QYW695VAXJ7JL6S4U564C6XKFE59KERCG0H88W"

TITLE: PROPOSAL TO BLACKLIST WALLET "TERRA1QYW695VAXJ7JL6S4U564C6XKFE59KERCG0H88W" INTRODUCTION: In the past, a proposal was made to address the issue of the wallet holding 800 million USTC. The initial idea was to use diplomacy to persuade the wallet owners to transfer to CP or burn the funds. However, it is evident that this will not happen voluntarily. PROPOSAL SUMMARY: We propose to blacklist the wallet "terra1qyw695vaxj7jl6s4u564c6xkfe59kercg0h88w" to effectively remove the funds from circulation. Blacklisting the wallet would prevent any transfers or transactions from it, essentially freezing the funds. REASONING: Directly changing the blockchain state and destroying funds goes against blockchain ethos. Blacklisting allows for a reversible action, enabling fund recovery through governance if valid reasons are provided by the wallet owners. IMPACT AND IMPLEMENTATION: The proposal aims to remove the funds from circulation effectively. A modification in the calculation of the Circulation Supply is suggested to account for the blacklisted wallet. In case this proposal is approved by the governance, the L1 development team should promptly implement the blacklisting process. VOTE: "Yes" vote indicates that you agree for blacklisting the wallet "terra1qyw695vaxj7jl6s4u564c6xkfe59kercg0h88w." ADDITIONAL INFORMATION: For more details on the proposal and background information, please refer to the original post: https://commonwealth.im/terra-classic/discussion/13562-proposal-to-blacklist-wallet-terra1qyw695vaxj7jl6s4u564c6xkfe59kercg0h88w-aka-800-million-ustc Vegas