Will TERRA (LUNA) Go Parabolic in 10 days time?
Good morning Lions I trust you are safe and well and what a start to the week we have this week. If you haven't been reading about Terra Network and recent developments I'd recommend researching this token and block chain project. At current there isn't too much development going on on the actual chain and the token is performing relatively stable.
But what is occurring is significant expansion which has been brought on since the Columbus 5 main net launch. Since then Terra has been refocusing on getting it's stable coin onto every network possible and as it's stable coin is linked through algorithmic methods the further it reaches the high theoretically Luna grows.
The Burn
(Image source: Screen Grab from my wallet)
One of the most exciting developments and one I am watching to see what happens in 10 days time is the burn of the two community pools which currently house around 90million Luna. The purpose behind the burn is to bootstrap onto Ozone once it launches with Do Kwon stating that the 90 Million Luna is valued at around the $3 to $4 Billion UST.
The community pool will also be be left with 10 million Luna left over from the burn and the process will be undertaken over a period of time with the anticipated results generating significant staker rewards exceeding 10% bringing about a decent windfall to token stakers.
You can read the proposal in full here
More Burning
There are a few discussions occurring on the proposal but none sticks out more than this comment from Do Kwon who is alluding to the fact that all non used UST should be burned. Some are seeking it be added to a community grants scheme but Kwon has no interest in that idea stating that he prefers entrepreneurial ship over community grants. Given the long track record of community grants on other block chains not living up to their expectations this is probably a good point to raise. It is also something to keep in mind if you are researching this token.
Image Source
As big of news it is Twitter has been relatively quite on the proposal with a few thousand people liking and retweeting for such an important event it indicates that Terra is still not being driven into mass adoption to multiple investors.
That being said Terra's approach to build first and keep building is helping to stabilise and grow the community.
The event will occur in around 10 days time and take a few weeks I believe to implement but then the network will be prepared for addition to Ozone.
What are your thoughts on the projects development and is this a good idea?
Image sources provided and information reported on is not financial advice and readers are advised to do their own research or seek professional services
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And they're succeeding.
The Terra (LUNA) PR machine is an absolute beast.
...Meanwhile, while HBD pretty much does everything that UST does, we are silent and nowhere to be found.
Seriously though, how does HBD have just 1 external listing (Bittrex against BTC... which never works).
Thank GOD we're spending all that endless DHF money on whatever the fuck we're "marketing" though.
/EndMonday9amRant
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Correct, it will be a matter of time before there are enough projects on Terra and roads into it that the token price explodes
What do you recommend I should be doing with my LUNA?
I kind of want to put it to work, but I don't want to open myself up to impermanent loss risks because I do also believe it's going to go parabolic.
Any suggestions?
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This is a good question and there are a few options available and might be worth writing a post about it. But depending on how much you have you could stake it for airdrops which is what I'd recommend building on validators.
Anchor and now Nexus enables you to provide it as collateral and borrow against it and buy more Luna.
There's no imperative loss staking Luna to a node. It's a single token stake no pairing
I am not so sure about the burns but it will definitely burn a lot of crypto. Is the burn happening on the money invested by the investors or is it just the leftover money in the DAO (or something similar)?
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