Discover and read the best of Twitter Threads about #lunc

Most recents (21)

Guess who's back? @terraswap_io is in full support of the #LUNC community to help revitalize the blockchain. The initial liquidity was provided by the Terraswap team for $USTC<>axlUSDC trading pairs.

Need to put your $USTC to use? Then here's the first step to provide.
@terraswap_io Don't forget to delegate your $LUNC to @delightlabs_io (@terraswap_io team) for their unwavering support towards the #LUNC community.
Read 4 tweets
🧵1/69 I was reminiscing about old times today and decided to throw together a quick dashboard on the rise and fall of the classic LUNA/UST algorithmic stablecoin pair. Built via @flipsidecrypto as always!

#LUNA #LUNC #DoKwon…
jk there is no thread

we went downnnnn

i cri evry tim Image
Read 3 tweets
1/ 🚨Important Announcement🚨

@_Terraport_ what happened🧵⬇️.

As we are all aware, our fantastic #LUNC community has massive energy in fighting crime, as well as seeking out truth.
This is a great strength. However, that unadulterated energy can lead to conspiracy theories as well.
@Terraport the truth.

The team was not subject to a “hack,” but an orchestrated, planned long-term infiltration that started 3 months ago with an individual using a fake identity.
Read 18 tweets
For those interested in #Ziggy whitepapers, please see the quote tweet below.

I will go down both and explain each in as much simplified detail as possible. I can produce a litepaper based on reoccurring questions.

This thread will be for 2: Ziggy - A Terra Chain for Creatives.
Before us is an incredible opportunity to solve one of the most important problems for creatives - intellectual property.

While $USTC does need to improve on refining the White Whale algorithm, we also need to inspire Captain Ahabs to come to the foray and set sail. Image
As outlined in Market Module - Demurrage, commodity swaps risk intrinsic "costlessness" - their values are subjectively valued by each party, and often, they are full of compromises.

For the artist, that compromise comes of the form of giving up Intellectual Property (IP). Image
Read 24 tweets
For those interested in #Ziggy whitepapers, please see the quote tweet below.

I will go down both and explain each in as much simplified detail as possible. I can produce a litepaper based on reoccurring questions.

This thread will be for 1: Market Module - Demurrage.
1: Upgrading the Market Module - Demurrage

I have been requested by the L1 team to provide a paper on the Market module. This allows for swaps between $USTC and $LUNC.

Keep in mind that these are two separate pools, and they are labeled "Terra" and "Luna" respectively. Image
There is no "lunc" (ie, "ulunc") in the documentations; "uluna" is the denom used.

"Terra" makes up all fiat currencies that are "not Luna" - such as $UST, $KRT, $JPT, $EUT, $GBT, and more.

"Luna" makes up all other commodities. In #LUNC's case, this is just $LUNC. Image
Read 20 tweets
2022 was the victim of many major #crypto crashes, but three of them stood out the most.

#LUNA\#LUNC | #FTX | #CelticFC

Here's a thread! 🧵👇
2- Let's start off with the infamous #TerraClassic, which saw its token at the time, $LUNA (now known as $LUNC) crash from $86 to under $0.01 in just 48 hours which caused $LUNA holders to lose a total of $60 Billion.
3- What happened? Well, over $2 Billion #TerraUSD $UST was unstaked from #AnchorProtocol and many millions of dollars swiftly became liquidated.

#TerraClassic still exists to this day and their community of #LUNAtics still believe in its future, but do you?
Read 7 tweets
*The secret origins of #LUNCMERGE* 🤫

1/ I was shocked to wake up on this wondrous New Year

To see a blatantly false allegation by @ZaradarBH

@LUNCDAO did not "[come up with the idea]" of merging $lunc and $luna

This determined me to reveal the true originator ...
2/ First, what is "The Merge?"

It is the idea of somehow joining both #lunc (Luna Classic) and the newer #luna together

$luna 2.0 is not a "fork" of $lunc. It was a brand new chain, with entirely separate transaction history.

Next, why merge?
3/ Why merge?

Arguably, bringing chains together would make for an immediately robust ecosystem

More users - from $lunc
More d'apps and better tech - from $luna

Interchain Alliance and Feather 🪶protocol will make $luna the center of much ...
Read 10 tweets

Please Share to Prevent FUD & Misinformation!

#1: Binance is NOT ending #LUNC support regarding burns.

- Binance is changing their burn from spot and margin fees from 100% to 50% starting now and the
next burn will occur on March 1st, 2023. Binance is reducing their burn % to prevent their voluntary burns from being reminted. As we saw with TRs recent actions, this makes sense from a business prospective.

To prevent their burns from being reminted, Binance is currently-
-in talks with the Terra Grants Foundation to create a burn wallet that prevents any reminting of sent funds. The reason they are delaying a 100% burn for at least 3 months is to give LUNC time to pass important proposals to keep their support.
Read 6 tweets
Explaining #LUNC Proposal 10983:
Increasing Burned Funds From 10% to 50% Remint

We all want to burn the supply on LUNC. I don't believe there are any LUNC holders who would disagree.

Our first idea was to have a burn tax, which I was hopeful about, but it turned out the on chain volume wasn't high enough to burn supply quickly so we appealed to the exchanges to implement our tax. Some exchanges like CoinInn and MEXC adopted burning early and Binance did...
decide to burn all their fees to support us, but it still isn't enough to decrease our supply quickly. It would take dozens of years to substantially decrease the supply at the current rate. We need to burn more quickly than that!
Read 9 tweets
We should consider looking back at the #UST collapse. I watched it go down first hand and have a list of 3 wallets that were buying and immediately selling at a loss perpetually to intentionally run charts down. Would love to have proof of what I witnessed.

A thread 🧵...
The primary contributors came from just 3 wallets:

Wallet 1: terra1yl8l5dzz4jhnzzh6jxq6pdezd2z4qgmgrdt82k (0x8d47f08ebc5554504742f547eb721a43d4947d0a)
Wallet 2:

terra195wtjmpjxhp336mclqfsyk2plvs8mw3lhsc5nc (0x4b5e60cb1cd6c5e67af5e6cf63229d1614bb781c)
Read 37 tweets
1/10 Another major #Cryptohack!
@BNBCHAIN got ripped off of over $110 mil. This sum's no joke!
What happened?
Will there be any consequences to the market?
What actions are @cz_binance and @binance's team taking to contain this?
A thread by @esatoshiclub! 🧵
2/10 Long story short, #BNBChain was hacked and the hacker got over $590 million in #BNB.

Fortunately for @binance and the whole market, he got off-chain just something over $110 million.

Let's see how it went down( no advanced technicals, just something all can understand).
3/10 Fortunately for us, @samczsun was there to analyze every minor detail of the hack.

The hacker somehow convinced the #BNBChain to send them over 1mil $BNB.

These coins are "false" #crypto. Meaning, the hacker got them from thin air, not actually issued by the #Binance.
Read 10 tweets
1/12 I'm hearing rumblings of a #LUNCShortSqueeze

Is this just another hashtag from #LuncArmy or is there something more here?

I'm a rekt lunatic (V1) so this is a bit touchy for me.

Anyway, I love a good squeeze so I couldn't help but dive in 👇
2/12 Recap: What’s a Short Squeeze?

A rare occurrence that begins when the price of a heavily shorted security/crypto begins increasing.

When short-sellers are forced to purchase shares to cover their positions, this causes a rapid increase in price of said security.
3/12 Earlier this month, $LUNC rallied over 500% on the news of the impending burn proposal.

On Sep. 9th one of the biggest whales in crypto @GCRClassic took on a massive short position.

I haven't seen him miss.
Read 13 tweets
Many of you are aware of the current problems with #LUNC out of gas failing transactions. Good news first: A solution is in the works! But I want to explain to those who are interested what I researched and what @edk208 was so kind to confirm to me that they suspect similar …
When you make transactions of #LUNC or #USTC to the chain via #TerraStation (and by other means), first there is a simulated transaction done to get the estimated "Gas" that will be consumed by the transaction. The Station then takes this estimation, adds a bit of safety …
… amount to it and then sends the actual transaction.
What now happened is, that the code that calculates the actual tax on-chain, writes the tax spent to a storage for statistics. This can be queried per block, so it is a permanent and increasing storage. Putting anything …
Read 11 tweets
The way @binance and @cz_binance "support" the burn tax on-chain is not fair. It is a nasty strategic move.

You are not charged deposit fees (of course you will be taxed on your side on deposit), but they charge a fixed(!) fee on withdrawal of 102,000 #LUNC
The minimum withdrawal amount is 204,000 #LUNC.
So that means small wallets in fact are kind of held hostage. Who can afford paying 10% fees of the sent amount on 1M? Who will pay 50% of the wallet holdings if he owns only 200k?
On the other side you only pay …
… less than the real tax when withdrawing > 8.5M LUNC. This clearly benefits big holders and kind of screws the small holders.
The support team suggested to change coins to different currencies to move them away from @binance. Really? Do you even know what you are saying?
Read 6 tweets
Guys! Don't panic because of #USTC getting minted. It's the normal market swap mechanism. It was only "disabled" for #LUNC/stablecoin and not for e. g. USTC/MYTC.
See this tx:…

So nothing to really worry about.
#LUNCcommunity #LUNCPenguins
The only (really) bad thing about his in my opinion is that there are no burn taxes on MsgSwap transactions 😆
Here is the current list of all coins with their total supply. Every of the "XXTC" coins could be swapped to #USTC and such mint new USTC to the supply. For example there are still 1M #MYTC after the recent swaps, worth around 200k USTC. Image
Read 4 tweets
1/ #Terra Classic : A ponzi or a mechanism design failure?
Terra Classic was a use-case-specific Cosmos blockchain designed to create a market between #LUNA and #Terra stables, each coin assumed to be at price pegged to the denominated currency, eq, US dollars in case of #UST Image
2/ #Terra's market module was designed to do this via a constant product market-making algorithm, where,

base pool = pool_size * 2
terra pool = base_pool + terra_delta

where terra delta tracked the total net #terra coins (denominated in SDR) swapped for #Luna
3/ Since continuous one-directional swaps will lead to high terra delta resulting in pool imbalance and high spreads, the delta was replenished at the end of every block by subtracting the regression amount (terra_delta / pool_recovery_period) from it,
Read 11 tweets
#Avax ve #Solana için tehlike çanları çalıyor. Sadece onlar için değil CZ ve #Binance içinde aynı şeyler geçerli. Aylardır uyarılar yapıyorum.

#Luna krizini ve yapacakları dolandırıcıkları 1 ay öncesinden söylediğimde kimse beklemiyordu sıfırlanacaklarını ama ne oldu patladı...
Bir tweet atmıştım vakti zamanında Tarih 28 Mayıs.. Kasım-Aralık ayları geldiğinde birçok düğüm çözülmüş olacak ancak iş işten çoktan geçmiş olacak.

Aylar öncesinden yapılması gereken herşeyi sizlere aktardım. Banka hesaplarınıza ufak ufak para çıkmarya başlamalısınız dedik.

Read 5 tweets
From a Gambling Commission perspective, this is not actually gambling because there is no monetary value of the items won outside the game. If it was considered gambling it could not be marketed to children. #Karthikeya2 #LUNC #LUFC… This means that some countries, such as Belgium have outlawed the use of “loot boxes” in games because they are seen as gambling aimed at children. There is no consensus more widely available, though. In the UK and US, games are now labeled as having… In-App purchases as part of the rating system. An important distinction, that many articles conflate, is between online gaming and online video games. Online gaming usually refers to gambling websites where players can partake in
Read 9 tweets
way to buy Bitcoin in order to make a deposit at the gambling site of your choice.

The procedure is very easy, after setting up an account at LocalBitcoins, which is completely free, you can use Zelle to buy BTC, and as soon as you see it in your wallet, #RepoRate #LUNC #olosho… desired amount intoyour player’s account through the casino’s cashier. Usually, funds are credited within a few minutes. Chances are you already have a Ria account, so now you can give it a try as the payment method to deposit funds at web-based casinos.… Thanks to the company’s partnership with PayNearMe, US players can create their money transfers online and conveniently pay with cash at their neighborhood 7-Eleven.
Read 7 tweets
If just a few years ago, the concept of Bitcoin online casino slots was still in its infancy, in today’s iGaming industry, cryptocurrency gambling is a mainstream trend. According to the latest data, wagers made in crypto account for nearly a quarter #WWERaw #LUNC #LoveIsland… with BTC being an absolute champion in popularity among players worldwide.However, there is still some uncertainty among many punters, newbies and seasoned pros alike, as to whether spinning the reels for digital money is any better than for USD… or another FIAT currency. Playerswho are not familiar with crypto betting have doubts, wondering if is it safe and secure and how they can be sure that the results are really random.

So, are Bitcoin-friendly casino slots any good?
Read 7 tweets
Bang or Bust? 🤔

A short thread (5 tweets) of the surprising #LUNA performance since listing 👇👇👇
1/ The much anticipated #LUNA 2.0 airdrop took place this weekend & damn was it interesting 🤯🤯 #LUNC remains the the old version of LUNA and performed well over the weekend pumping more than 50% Image
2/ #LUNAtics in the community have been somewhat negative & unsupportive of LUNA and the fork. Some have remained faithful and believed that the fork and airdrop would hopefully make them whole again after the bloody crash... Image
Read 7 tweets

Related hashtags

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3.00/month or $30.00/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!