Conversation

Do Kwon 🌕
@stablekwon
4/ While drawdowns are painful, $UST exhibited extreme peg stability during the 60% price drop, and
@anchor_protocol
maintained its core solvency mandate and continues to offer 18-20% yield due to drastic falls in the utilization ratio, drawing down on its yield reserves.
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Do Kwon 🌕
@stablekwon
7/ While I had thought that a good way to burn the funds would be to mint $UST to bootstrap an insurance project called Ozone, there's been concerns from the community that such a move could result in a "double burn" - using Luna that had already been burnt to mint more stables
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Do Kwon 🌕
@stablekwon
9/ While I personally believe burning Luna and getting insurance could be more productive, I believe the community should be given a fair chance to debate and vote on an important proposal with nearly a billion dollars at stake.
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Do Kwon 🌕
@stablekwon
10/ If you vote NO to Prop 82, the community pool will be swapped out for UST after Columbus-5, and used to bootstrap the Ozone protocol. If you vote YES, the community pool (67M Luna) will be immediately burned.
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Do Kwon 🌕
@stablekwon
11/ What happens to Ozone if the community pool is burned immediately? I will be depositing 100M UST over the first year of Ozone's creation to bootstrap the insurance pool from my personal funds.
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FatCat
@Fatcatterran
Replying to
@stablekwon
@d0h0k1
and 2 others
Do I know you dislike wen’s. But an official release date for Col 5 would actually help this vote. People need some breathing room and not many are going to vote no after yesterday’s bloodshed. Now if they have a date for COL 5 it’ll be easier to vote no. Just IMHO.
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AJ_Rabbit 🪱💊
@AjRabbit6
Replying to
@stablekwon
@d0h0k1
and 2 others
@d0h0k1
if u agree w this argument, couldn’t you make your voice louder? As the great leader you are, can stir the sheep to greater progress.. most ppl are clueless about terra mechanics n read burn burn and get hyped :(. Even tho s a dao, long term vision n leadership are key 🙌
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