A new prposal and techniques from the lunc team is about to take an action .
The chances of $LUNC reaching $120 are massively low and next to impossible, and to reach $1,ย 99.9% of supply needs burning or staking, and TerraClassic would still need a mktcap of $6.9bn.
Taking 90% out of circulation combining staking and burning may be achievable (but a fantastic feat) this would leave 690bn circulating and at a mktcap of $6.9bn, a price of $0.01 or 1 cent could be achieved. That's a 160x on todays price. In context we currently have about 15% staked and despite concerted effort burning has barely upto now dented the supply.
Potential ๐ฑ Burning $USTC does not even start to address the $LUNC over supply and for $LUNC to maximise its value the ecosystem needs to be not just relevant but: ๐ฐ massively attractive, and ๐จโ๐ป easy to build on, and ๐ซ very welcoming. $LUNC Supply is one thing, value of the ecosystem is something else. Attractive, easy and welcoming, means uptodate guides, manuals and documentation and assistance for new builders and returning dev teams, to remove as many barriers to building here as possible, and builders to be supported and their products used.
I also think we need to be seen as the transit hub of the cosmos system, the market place and central reserve for users. We need to embrace a multichain future, learn from the best of the rest and re-secure ourselves as the biggest, and best community in crypto. Whatever your view of stablekwon and terra money their actions resulted in this fantastic community. From ashes and devastation given enough time and effort new civilisations emerge, and often end up greater.
Creating a swap (LUNC - USTC2 (stablewhateveryoucallit)) mechanism or similar may help burn fantastic amounts of LUNC, and what worked before as a driving force for 'UST & LUNA' with adaptation and additional safeguards and capital controls could be the key to recovery. Multiple groups are investigating this. (If you've relevant competence, and are interested in achieving change rather than receiving a paycheck I can maybe sign post you).
Today Looking at the charts we may be at the bottom and on the way back up if sentiment contines this way, this is the first week of green candles for a long long time, and we are performing against the wider crypto trend. ๐ Builders are coming to us and the community Dex Terraport is due to launch as a full defi product and creating tokens and Liquidity pools on TerraClassic should become even easier with a hub for liquidity, and a mechanism to burn LUNC.
Whether LUNC reaches $0.01 or a shorter term more achievable $0.001, I do think a 10x on the market cap can be easily achieved through ecosystem development, and everything else is a bonus. Personally the biggest payback for me will be helping bring life back to TERRA and contributing to a vibrant, full and sustainable financial ecosystem and the world's premier decentralised one.
