Vegas, one of the important names in the Terra Classic chain, announced its #USTC re-peg plan. We would like to provide some details about Vegas' USTC re-peg proposal for you.
In order for the Terra Classic chain to work automatically, the market module between LUNC and USTC needs to be activated. Vegas is aware of this.
USTC needs to be fixed. Vegas's proposal has a gradual fixing idea. For example; Let's fix USTC at $0.015 and ensure the security of the system. Let's add another $0.001 when it is secure.
Let's gradually move USTC to $1 with $0.001 additions. Vegas has made a similar suggestion before.
âȘïž If this happens;
The swap between LUNC and USTC will begin and the chain will generate revenue.
It will attract interest from small and large investors.
A significant number of LUNCs will be burned.
The disadvantage is that there may be unwanted LUNC printing...
Vegas says here, as a precaution; Let's impose a hard maximum supply limit on LUNC and USTC. This will eliminate many threats.
I wanted to convey the proposal to you in an understandable language. Finally; the importance of opening staking transactions in USTC was emphasized. This proposal will be discussed a lot. The important thing is that this issue is being voiced.
We are in the midst of important developments in the Terra Classic chain. TFL burns have begun and must burn all funds in its possession by October 30, 2024. It is estimated that a large number of LUNC and USTC will be burned.
Let's see if all these developments can carry the Terra Classic chain to its target point. We will continue to watch...