Proposal for Burning USTC in the Community Pool I would like to bring to your attention the significant amount of USTC currently residing in our Community Pool, which stands at 8 million USTC and growing . The rationale behind this proposal is to consider burning the totality of this funds, as they are not currently needed for community initiatives. As of now, our Community Pool boasts a substantial amount of 34 billion LUNCs, equivalent to more than half a million dollars( at the moment). This pool's liquidity is more than sufficient to cover the ongoing on-chain activities, making the 8 million USTC (approximately $300,000) not required. The proposal to burn these USTCs aligns with our community's desire for deflationary measures and responsible fund management. Additionally, keeping USTC untouched (not spend) is beneficial due to potential low liquidity on centralized exchanges. While the liquidity landscape may have evolved, it is prudent to exercise caution with these funds. By taking the initiative to burn this amount of USTC, we demonstrate our commitment to self-sufficiency and the responsible management of community resources. This action not only aligns with our community's vision for deflation but also sends a powerful message that we are proactive in shaping the future of terra classic. I propose a spend proposal to allocate and send the surplus USTC directly to the burn address(terra1sk06e3dyexuq4shw77y3dsv480xv42mq73anxu ). This deliberate move will contribute to reducing the overall token supply, thus supporting the long-term value and sustainability of our community. Vote yes if you want to see 8 million USTC burned . Best regards, Vegas https://commonwealth.im/terra-classic/discussion/14450-proposal-for-burning-ustc-in-the-community-pool-by-spend-proposal-to-burn-adress?comment=70731
Submitted
27 Dec 2023, 16:34:25 UTC
Vote closed
04 Jan 2024, 08:08:19 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.
Community pool
Preferred signal: context
7 days
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30 days
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90 days
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/cosmos.gov.v1.MsgExecLegacyContent/cosmos.distribution.v1beta1.CommunityPoolSpendProposal80.85% participating
Approval
Below threshold
9.74% decisive Yes
Veto
Below threshold
1.23% of participation
What this message can change—not a prediction of price.