Professional proposal to reduce the supply of currency$LUNC to 1 billion with a stimulating burn mechanism
(Proposal: Accelerated LUNC Burn Mechanism to Reach 1 Billion Supply)
Executive Summary
With the significant inflation in the supply of Terra Classic (LUNC) (current: ~5.8 trillion), we propose a collective burn mechanism supported by incentive rewards to reduce the supply to only 1 billion coins, with Binance platform as a strategic partner. The idea relies on the "LUNC Fees" system that rewards participants in the burn with shares of network fees, thereby enhancing demand for$LUNC and sustainably increasing its value.
Proposal Details
Main Objective
- Reduce supply$LUNC from ~5.8 trillion to 1 billion coins by burning 99.98% of the current supply.
- Increase the value of LUNC by creating artificial scarcity while ensuring network sustainability.
Proposed Mechanism
1. Establish "LUNC Fees" currency:
- For every person who burns 1 million LUNC, they receive 1 LUNC Fees (tradable).
- 90% of LUNC transaction fees (within the network and on platforms) are distributed to LUNC Fees holders.
- 10% is transferred to the Terra Classic network to support development if the transaction is in its network; if on centralized or decentralized platforms, then the platform takes it.
2. Binance's Role:
- Oversee the burning process by adding a "Burn LUNC" button in the platform's wallet.
- Automatically distribute LUNC Fees to participants.
C. Target Timeline:
Achieve 1 billion LUNC within 18-24 months (based on current burn rate and enhanced incentives).
Benefits for Binance (Why Binance?)
- ✅ Increased trading volume: The incentivized burn will lead to higher trading of LUNC on the platform.
- ✅ Attract new users: The rewards system will attract those looking for long-term returns.
- ✅ Enhance reputation: Binance's role as a leader in "saving" LUNC will elevate its status as a supporting platform for innovation.
- ✅ Additional revenue: 10% of the fees will be distributed to the platform (if it is a technical partner).
---
Technical Implementation:
- Develop a smart contract on the Terra Classic network that:
- Calculates burnt LUNC quantities.
- Automatically issues LUNC Fees.
- Distributes fees weekly to LUNC Fees holders.
- API integration with Binance platform to facilitate direct burning.
Call to Action:
We ask Binance:
1. To put this proposal to vote via the Binance Voting platform.
2. To provide technical support to connect the burn system to the smart contract.
3. To promote the program through its marketing channels.
Community Backing:
- Support from the Terra Classic community
- Support from Terra Classic developers
---
Conclusion
The proposal achieves a triple benefit:
1. For the LUNC community (value increase + network sustainability).
2. For Binance (increased revenue + competitive differentiation).
3. For the market (a model that stimulates the adoption of anti-inflation mechanisms in digital currencies).
We invite Binance to lead this historic initiative to transform LUNC into a rare currency of high value.
