Community burn aid - Request that exchanges add a Burn Trade option to LUNC pairs, with monthly burn reports

(NOTE: This is a resubmission of the rejected Terra Luna Classic proposal #11822. The reason for this proposal being resubmitted is because the first proposal's description left out key details that were mentioned in the linked Commonwealth thread, which some persons may not have read due to its length. This may have led to confusion for some persons about how the proposal would work, for example one person appeared to believe that this proposal would mint USTC tokens, even though no tokens will be minted as a part of it. For those who have already read both proposal #11822's description and the entire Commonwealth thread post before voting, I thank you for taking the time to vote and I encourage you to please vote in this proposal with the same choice that you made in the first one. If the proposal fails this time as well, then it will not be submitted for consideration again in the near future.) This proposal aims to jump-start a "community burn" effort by persons within the LUNC community to voluntarily burn their LUNC tokens on a regular basis, mainly through exchanges that currently have LUNC and USTC trading pairs. However unlike regular burning which only has the person simply send LUNC tokens to the burn address, the general idea is that the exchanges will have a unique 'burn trade' option that allows a trader to quickly burn a large majority of their contributed LUNC tokens, while simultaneously using a small percentage of those contributed LUNC tokens to market-buy USTC tokens being sold on the exchange's USTC market, for the trader to receive. The number of USTC tokens that are returned to the person burning, will be approximately five times the number of the U.S. dollar value of the contributed LUNC tokens (e.g. $60 worth of LUNC contributed to the burn trade, will yield about 300 USTC tokens for the person). The Burn Trade 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. The reasoning behind this is that for some persons, the inclusion of a USTC token return during the LUNC burning process alters the idea of voluntary burning from simply being "giving away money", to being a "pay now to potentially get paid back later" system which depends on the future price performance of USTC. By distributing USTC to LUNC burners in this way, some persons will see the opportunity to be able to eventually recoup the dollar amount that was lost through burning or even possibly make a profit, in the event of a future USTC price rise or repeg. This will encourage more exchange users to 'burn trade' LUNC. To help with this community burn effort, two things are needed: the addition of the 'Burn Trade' option for LUNC on exchanges, and also monthly reports from participating exchanges on the progress of the voluntary burns by the community. The reports will mainly include basic information such as: - the total number of LUNC that was burned by individual users, through the 'burn trade' option on the exchange within each month, - the number of direct LUNC withdrawals by individual users from their accounts on the exchange, to the LUNC burn address, - the total number of users on the exchange that burned the total number of LUNC within each month, - the average number of LUNC tokens burned per user within each month. The purpose of these reports is to aid the LUNC community in monitoring the progress of the voluntary LUNC burns on exchanges, as well as to encourage others to join the burn effort after seeing the reported burn numbers. People are less likely to regularly sacrifice their own LUNC tokens if they don't know for sure that a certain number of others are doing the same thing, and that those other persons are also sacrificing a certain amount of LUNC on average. Here is an example of how the burn trade would work, using Binance as the exchange (please note that the percentages used here such as the exchange fee are not finalized, and can be altered for the burn trade if the community agrees that it is necessary to do so): USTC market price = $0.012 at the time of the burn trade LUNC market price = $0.00006 at the time of the burn trade Binance has a LUNC/BUSD pair, and a USTC/BUSD pair. Someone burns $60 worth of LUNC (1,000,000 LUNC) through the exchange's burn trade option that is shown under the LUNC/BUSD pair. After the burn option is selected, 1% (10,000 LUNC) is taken as an exchange fee. 6% (60,000 LUNC) is then used to market-buy approximately 300 USTC for the person, first through the LUNC/BUSD pair to obtain approximately 3.6 BUSD, then the 3.6 BUSD is instantly used market-buy approximately 300 USTC through the USTC/BUSD pair (NOTE: this percentage is determined by the USTC price being multiplied by 5. In this example USTC = $0.012, and 0.012 times 5 is 0.06, which would be 6% of the contributed LUNC). This leaves 93% (930,000 LUNC) to be held and burned by the exchange, and the person has the 300 USTC under their account. Persons will also be able to burn LUNC through the burn trade if they are not holding any LUNC while on the LUNC trading page, but they are holding the second token that is paired with LUNC under that pair's trading page, e.g. BUSD (under LUNC/BUSD) or USDT (under LUNC/USDT). Some persons may be asking, "Why is this burn trade option needed under the LUNC trading pairs, when anyone can just withdraw LUNC directly from the exchange to the burn address"? Those who wish to contribute to the community burn by withdrawing directly from the exchange to the burn address, can of course do so and as mentioned above these burns would also be included in the exchange's monthly reports. However the 'burn trade' option will still be requested for the following reasons: - Instant USTC return: This aspect of the burn trade option is important, as it has potential to convince some casual crypto traders who are not invested in either LUNC or USTC (and would therefore be unlikely to consider going through the extra steps of burning LUNC the normal way then buying USTC separately, as some of us would do), to quickly 'burn trade' LUNC on the exchange. People who believe strongly enough in LUNC's eventual recovery to the point where they decide to support it by burning LUNC tokens, are also likely believe in USTC eventually recovering and being repegged alongside LUNC's recovery. Those persons may also anticipate that there will be a significant rise in USTC price or a repeg to $1, before the LUNC supply is ever burned down to becoming billions of tokens instead of trillions. This is where the USTC return adds appeal to the idea of burning LUNC for some persons: If the USTC that they receive after the burn trade is later repegged to $1 and the person has kept their USTC, then the person will receive five times the U.S. dollar amount that they contributed to the burn trade option. Or....if before a full $1 repeg happens, the USTC token passes 20 cents in value such as during a bull run (reminder that USTC briefly touched 8 cents price in July 2022, and touched 6 cents price in September and October 2022), then the person can simply choose to sell the USTC to get back the same U.S. dollar value that they burned. Returning a USTC amount that is approximately five times the dollar amount of the LUNC contributed to the burn trade, is a small way of getting some persons to feel that they're not technically just "losing money" when deciding to burn, which they may feel if they had to send the LUNC directly to the burn address. - Speed/convenience for burning from an exchange: There are persons who trade on exchanges and they may consider an occasional burn to assist the LUNC burn effort. However those persons may not be familiar with (or may not feel like) going through the process of obtaining LUNC, finding the correct LUNC burn address, whitelisting the address then completing the withdrawal page before sending the LUNC. Some persons may also not be generally aware that they can directly withdraw to the burn address. It would be helpful to the burn effort to provide these persons with a direct, convenient burn option located on the LUNC trading page. - Direct reminder of burning to LUNC traders on exchanges: With a burn option right in front of some traders who are trying to buy or sell LUNC, they may decide to also burn off some LUNC. For example, someone trying to get $500 worth of LUNC may see the burn option next to the other trade options, and decide to burn $50 worth of his LUNC right then and there (whereas that person most likely would not have done that if the burn option wasn't there in front of them). Think of it as an effect similar to the "impulse buy" in a store by having candy bars near the cashier, except in this case it's an "impulse burn". - Signal to Binance of the community's commitment to burning: Even if Binance declines the idea of implementing a special burn trade option for LUNC on their exchange, the request to have the option available so that persons can directly burn LUNC themselves while trading, would be a great sign to the exchange. The request shows that the LUNC community appreciates Binance's burn efforts so much that some of us are willing to do something similar to what the exchange is doing: burning some of our LUNC to help to bring the supply down, instead of keeping the tokens for ourselves. This helps Terra Luna Classic to continue to maintain a good relationship with the exchange. 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