TERRA LUNA CLASSIC BURNS & RUG

 

ladies and gentlemen another jam-packed day on Terra Luna classic we've got several big old things that just happen so you're going to want to go ahead and watch this video we've also got our coffee here if you haven't already good morning and let's get right into it so proposal here that came out I promise I'd talk about it 11639 to reduce staking on delegation period to 14 days as well as another proposal to raise gas fees by two times now simply put we haven't voted on this proposal yet but if we were to double

the amount of money it takes to send a transaction it would take 16 luno classic to send a transaction and it would help us get a lot more funding for the community pool and it would also improve staking Rewards this proposal is a little wishy-washy because if we do end up doing this then all these Auto compounding uh rewards are going to be a little bit more iffy to control it's going to be more expensive for validators for everybody involved so more due diligence will be needed before I vote on this one but I do have a vote

for 11639 which is reduce staking on delegation period to 14 days we've actually gone ahead and voted no it's actually going to be I'm pretty sure it's going to be a controversial one but there's a good reason and I think you're going to like what I say here in fact what I think would be much better of an alternative instead of doing a seven day reduction on the staking period is this let me go ahead and read this our lunk validators voted no to propose 11639 and here's why decreasing delegation time to

14 days won't really change much realistically you'd want to undelegate immediately if your issue was to undelegate faster plus seven days won't really change that much here's the main reason why not passing this makes sense the standard it on Cosmos SDK which is what terralino classic is running on is a 21 day on delegation it's literally the default on Cosmos that's why Tara Luna classic has it liquid staking hasn't taken off on our blockchain but would be absolutely wonderful for burns

Ontario lunar classic what we could do is if people would like to immediately undelegate they would pay a percentage of their coins to do so this would go down of course over the length of time you'd like to undelegate for example if you wanted to give me a you know quick old rundown on this one if you wanted to undelegate immediately you'd give up maybe 10 of your coins and that would go straight to the burn wallet so that would be 10 of your Luna classic burn if you wanted to undelegate immediately

let's say turtle in a classic pump 50 on the day you burn 10 of your coins immediately get the liquidity and do what you want with it and then Terra little classic gets more liquidity it gets more Burns it's a win-win situation overall versus you wait 21 days you pay none of your coins you get it all back and you go ahead and do what you want I think this is a better alternative we can have warnings in place to let people know that burns will happen if you undelegate early and zero percent will be taxed if you undelegate the full 21

days I think it's a much better approach instead of just letting people on six seven days faster more Luna classic Burns equals a healthier ecosystem I personally just think we need to go ahead and get liquid staking and make it a thing make it more popular on this blockchain make it an accessible thing you need liquidity of course to be able to do that I'm sure we can foster that up but liquid sticking could literally help everyone it'll be good for validators it'll be good for the Oracle boom because more transactions it'll be

good for the burns it'll be good for stakers it's a win-win all across the board and I would just much rather see that than just randomly reducing the undelegation period of 14 days I just think we could you know go ahead and negotiate for much better terms and I'm pretty sure liquid staking would be so much more awesome then going ahead and doing this so I hope you understand that and also while I'm at it our validator has gained almost 1 billion delegations over the past 24 hours for those that

don't know we're burning 100 of all of the terrorlando classic as well as UCC we're converting that to Tara Luna classic as well good for on chain fees good for the Oracle pull good for everyone and we're going to be burning all of it on August 1st that's the tentative date we're going to be doing this monthly until the end of the year we're starting the tarot little classic burn movement stick with us people are definitely beginning to open up their eyes in regards to this but with this

being said now that we've got the good news out of the way and my wonderful thoughts on liquid staking let's go ahead and talk about bad stuff which uh really suck so there's a doe Quan token and I think it was called dokwon Hub at the time it's dead you don't know how many times I've gotten messages over the past month that are like oh Cassie go ahead and redeem yourself by covering dokuan and you know maybe you'll make something out of yourself and I'm like no I don't want to be an ambassador for

dokwon Hub some random coin that has I don't even know how much liquidity and so it rugged right and that happened and this is this is the realistic approach to things you know I think it's been a while since the terror situation has happened and Tara is thinking of relaunching I wish them the best of luck in regards to that hopefully goes well for the investors I'm still holding a very good chunk of Tara trust me so I'm hoping it goes well but when it comes to something like this this is a reminder

this is all this is this has nothing to do with terrolina Classic this is just in every chain you're going to experience this there will be rugs that's just something that happens and for new cryptocurrency investors because I I think I'm gonna go a little bit off here and get a little bit personal here my brother got into cryptocurrency back in 2020 he'd been doing wonderfully and one day something happened I don't want to go too in depth but he lost all his money is what I'm trying to say

and so you know after that moment I I kind of realized cryptocurrency it's a volatile space it's harsh it's unforgiving and what you need to understand is that this will happen like this is going to happen a lot more times if you're in cryptocurrency and you're planning on staying here for years to come and you're investing in many different cryptocurrencies probably more than 90 percent of them will go to dust at some point and realizing that and planning accordingly is very important trading and taking

profit is crucial there's a very good reason why I had decided to take some profit on teraport when that had happened it went up 10x and it's just safe precaution every single cryptocurrency that I get into these days I do this full time so this is literally my livelihood here I'm telling you this from the perspective of someone that makes a living off of this every single cryptocurrency that goes up a very good chunk if it's looking unrealistic if you get any sort of doubts take profit you don't have to

sell everything you don't need to go crazy crazy over it but just take some profit make sure that you get your initial investment out if you want a good perspective on this I love Gala games I cover Gala games all of the time on my gaming channel if you follow my gaming channel you know about this but there's one thing I've got to say about Gala games and that's the fact that their nfts are very volatile they go up they go down they go all kinds of ways and the most important thing is making

sure that you're taking profit I last month put in somewhere on 5K into spider tanks nfts this month they're worth 11 000 I mean it's ridiculous the amount of returns what did I do instead of being like okay I'm just gonna dive in hand this forever even though these nft assets are down quite a bit I decided hey I'm going to take profit on my initial investment and I'm just gonna Moon bag the rest of it and that's a exactly what I did you can love a project as much as you want to love it

but do realize that you at the end of the day are the only person that matters in your little sphere of influence you need to make sure that you take care of yourself so that you can take care of other people so don't over expose yourself make sure that you understand that these little assets that have a bunch of ambassadors on them constantly messaging you they're messaging you because they want you to be the exit liquidity that's the truth of it that's as simple as it is they want you to make

money so that they can make money they're it's a bit of a mutual relationship I guess you could say but um you gotta be careful out there you gotta be very careful out there this isn't the last time this is going to happen in Ontario in a classic I guarantee it 150 million percent at some point something else is going to happen and you need to cover your bases don't throw all of your terrible little classic at a project just because uh let's say some random I'm not going to name tokens because they're going to

start making tokens off the names but there's just some random token comes out and and it goes up a thousand percent versus Terra Luna classic maybe going down I don't know five percent on the day or something like that and then all of a sudden you're like oh but you're a little classic is down at least this project is up let me go ahead and invest my turtle Luna classic into it and then five minutes later it rug pulls you lose all of your money that's just something that happens right it's something that happens quite often

and that's why you need to be careful don't throw your turtle in a classic into these projects be very careful do your due diligence and here's the thing a lot of the time you can't do your due diligence if you cannot properly do due diligence on a process or on a project example it has an anonymous team it's giving a bunch of random tokens influencers are covering it guys don't throw your turtle little classic at it throw a very small amount if you're going to do it of course not Financial