$LUNA burn proposal confirmed

Do Kwon confirms the community pool will be burned if on chain vote passes

Oct 22, 2021

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This news was formally decided via governance a few months ago, but $LUNA’s illustrious leader fired up Twitter with confirmation that the community pool burn would happen pending an on chain vote next week.

Do Kwon 🌖 @stablekwon

Next week, we will uphold @terra_money signal prop 44 and initiate a proposal to burn 90M Luna in the community pool to mint $UST for Ozone. This will reduce Luna total supply by 90M, and increase $UST supply by roughly 3-4 billion.

Do Kwon 🌖 @stablekwon

A byproduct of this operation is that a lot of swap fees will accrue, which we expect will result in $LUNA staking returns (minus airdrops) to 5 x.

5x the staking returns, plus a significant amount of the total supply burned. Pretty cool. Ok, so significant fundamental event, but how’s the TA looking? Kaleo has been bullish on $LUNA since the market correction in May. He’s still bullish.

K A L E O @CryptoKaleo

$LUNA Massive supply burn around the corner. Finally looks ready to send to $50+ 🤝

This is why we all need an intern:

Hsaka @HsakaTrades

Intern just submitted their $LUNA report. Was pretty extensive, will try to distill it as well as I can. 🧵👇 1/n ~10% supply burn (~$4b) IBC multichain UST spell integration cambrian explosion flywheel effect $100 do kwon staking yield 5x airdrop wormhole gm wagmi

In case you missed this. UST being available to be used across Solana dapps is a big deal. More demand for $UST = more $LUNA burned.

Solana @solana

UST coming to Solana DeFi via @wormholecrypto

Wormhole @wormholecrypto

1/ We're ecstatic to announce the long-anticipated support of @terra_money to the Wormhole token bridge! 🚀 Terra is known for its vibrant ecosystem, #LUNAtic community, and its decentralized stablecoin, $UST. https://t.co/T5eAVkY0As

So you get the picture. Bullish FA and bullish TA and another catalyst for UST demand to increase. So the big question you might be asking yourself: how much $LUNA is enough $LUNA?

🌖 𝐂𝐑𝐘𝐏𝐓𝐎 𝐒𝐔𝐒𝐀𝐍𝐍𝐀 🌖 @soilbrah

Remember: 1000 $LUNA is the make it stack

More hopium needed?

T O - T H E - M O O N - S I R ? $UST 🌖👻 @tothemoonsir

This is a screenshot of @Sheldon_Sniper and @cryptomanran discussing $luna "likely to go to $500 - $700 this bull market". I think they are right. $psi $anc $mir $orion

Nicolas Flamel 🌖⛓🕸 @NicolasFlamelX

You paying attention? Terra TVL about to 🚀 Already that $LUNA was crazy undervalued compared to $SOL The gap is about to get even more crazier Market are inefficient until they aren’t $LUNA is a top 3 coins and it’s just a matter of time before valuation reflect that

Do Kwon 🌖 @stablekwon

Remi Tetot 🌖🔴 @Remi_Tetot

Based on Network effect comparison with Eth 2017 run, $LUNA could easily reach $400 in this run. IBC Whormhole @danielesesta MIM integration etc... Could mean it actually takes us to uncharted territory. $LUNA $UST #LUNATICS

The yield on $UST is about to go up dramatically. Anchor already provides an incredible yield opportunity on your $UST with 20% APY, but it’s about to get better. Route2FI outlines how you can generate a massive 160% APY.

*Disclaimer* this isn’t without risk, obviously.