LUNC Circulating Supply Adjustment
Introduction
This proposal aims to make a significant adjustment to the circulating supply of #LUNC by reducing it to a 1,000:1 ratio. This adjustment will be in effect until #USTC is re-pegged. All supply, except for staked LUNC, will be reduced to the 1,000:1 ratio. After a 21-day staking period, if $USTC is re-pegged, the staked $LUNC s will remain the same. However, if re-pegging is not achieved, they will be included in circulation at a reduced ratio of 1,000:1.
Objectives
1. Circulating Supply Adjustment:
- Reduce the circulating supply of LUNC to a 1,000:1 ratio.
2. Temporary Adjustment Until USTC Re-Pegging:
- Ensure the adjustment remains in effect until USTC is successfully re-pegged.
3. Staked LUNC Handling:
- Define how staked LUNCs will be treated both during and after the adjustment period.
Proposed Solution: Circulating Supply Adjustment
1. Initial Adjustment:
- The circulating supply of LUNC will be adjusted to a 1,000:1 ratio.
2. USTC Re-Pegging Period:
- This adjustment will remain in place until USTC is re-pegged.
3. Staked LUNC Handling:
- Staked LUNCs will not be affected during the adjustment period.
- After a 21-day staking period, if USTC re-pegging is achieved, the staked LUNCs will remain unchanged.
- If USTC re-pegging is not achieved, staked LUNCs will be included in circulation at the reduced ratio of 1,000:1.
Expected Contributions
1. Circulating Supply Reduction: The adjustment will significantly reduce the circulating supply of LUNC, potentially impacting its value.
2. Support for USTC Re-Pegging: This adjustment serves as an incentive for the re-pegging of USTC.
3. Clear Staked LUNC Handling: Users will have clarity on how their staked LUNCs will be treated during and after the adjustment period.
Conclusion
The proposed adjustment to the LUNC circulating supply aims to bring it to a 1,000:1 ratio until USTC is successfully re-pegged. This adjustment is designed to align with the re-pegging efforts and
provide a clear plan for staked LUNCs.