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2.html
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<!DOCTYPE html>
<html lang="en">
<head>
<meta http-equiv="X-UA-Compatible" content="IE=Edge" />
<meta charset="utf-8" />
</head>
<body style="margin: 0;">
<div id="p2" style="overflow: hidden; position: relative; background-color: white; width: 935px; height: 1210px;">
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.t {
transform-origin: bottom left;
z-index: 2;
position: absolute;
white-space: pre;
overflow: visible;
line-height: 1.5;
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.text-container {
white-space: pre;
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white-space: normal;
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}
</style>
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src: url("fonts/Calibri-Light_dh.woff") format("woff");
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<!-- End embedded font definitions -->
<!-- Begin page background -->
<div id="pg2Overlay" style="width:100%; height:100%; position:absolute; z-index:1; background-color:rgba(0,0,0,0); -webkit-user-select: none;"></div>
<div id="pg2" style="-webkit-user-select: none;"><object width="935" height="1210" data="2/2.svg" type="image/svg+xml" id="pdf2" style="width:935px; height:1210px; -moz-transform:scale(1); z-index: 0;"></object></div>
<!-- End page background -->
<!-- Begin text definitions (Positioned/styled in CSS) -->
<div class="text-container"><span id="t1_2" class="t s1_2">Apr 2023 </span>
<span id="t2_2" class="t s1_2">Funding Devs - Burning LUNC – Rewarding Users </span>
<span id="t3_2" class="t s2_2">Introduction </span>
<span id="t4_2" class="t s1_2">Terra's UST and LUNA collapsed in the spring of 2022 resulting in devasting consequences for the digital </span>
<span id="t5_2" class="t s1_2">currency space. It is estimated that a whooping $60 billion were wiped across various crypto projects. </span>
<span id="t6_2" class="t s1_2">Among the hardest hit was the community that supported Terra's ecosystem. Investors lost their entire </span>
<span id="t7_2" class="t s1_2">funds within a few days’ time. Terra LUNA's founders abandoned the project when they were </span>
<span id="t8_2" class="t s1_2">unsuccessful in restoring the ecosystem. However, the community refused to give up hope and rallied </span>
<span id="t9_2" class="t s1_2">together in a massive effort to restore the newly named LUNC. </span>
<span id="ta_2" class="t s1_2">Over the next few months, many teams have put in countless hours working towards planning, </span>
<span id="tb_2" class="t s1_2">proposing solutions and starting the burning of the excess LUNC in circulation. During September, some </span>
<span id="tc_2" class="t s1_2">exchanges started to burn LUNC based on the 1.2% proposal that was voted on by the community. </span>
<span id="td_2" class="t s1_2">However, there has been a realization that some exchanges will follow a different path by either not </span>
<span id="te_2" class="t s1_2">participating or burning a smaller amount. This results in the community being at the mercy of the </span>
<span id="tf_2" class="t s1_2">exchanges as they have a larger "say" then the community. </span>
<span id="tg_2" class="t s1_2">Token burning has become an increasingly popular mechanism in the cryptocurrency space as a way to </span>
<span id="th_2" class="t s1_2">reduce token supply, increase value, and incentivize HODLing. However, some token burning methods </span>
<span id="ti_2" class="t s1_2">may require the cooperation of centralized entities, such as exchanges, to facilitate the process. In </span>
<span id="tj_2" class="t s1_2">contrast, the LBUN Project has developed an alternate method of burning LUNC, through the use of a </span>
<span id="tk_2" class="t s1_2">token bonding curve (TBC) for the Burn and Stake Enterprise (BASE) token. </span>
<span id="tl_2" class="t s1_2">The TBC mechanism allows for the collection of a 4.8% tax on each buy/sell of the BASE token, which is </span>
<span id="tm_2" class="t s1_2">used to fund both investor returns and the purchase of LUNC on Terra Classic for burning. This </span>
<span id="tn_2" class="t s1_2">innovative approach not only accelerates the burning of LUNC but also provides developer funding to </span>
<span id="to_2" class="t s1_2">encourage the return of utility to the blockchain. By using a decentralized method of token burning, the </span>
<span id="tp_2" class="t s1_2">LBUN Project can maintain control over the process while avoiding the reliance on centralized entities. </span>
<span id="tq_2" class="t s1_2">The LBUN Project has also taken steps to expand its token burning mechanism to other blockchain </span>
<span id="tr_2" class="t s1_2">networks. Since September 2022, the LBUN Project has been running an accelerated burning dApp on </span>
<span id="ts_2" class="t s1_2">Solana, and it has recently expanded its burning mechanism to Terra2 as well. These efforts </span>
<span id="tt_2" class="t s1_2">demonstrate the LBUN Project's commitment to finding new and innovative ways to burn its token and </span>
<span id="tu_2" class="t s1_2">provide value to its community members. As the cryptocurrency space continues to evolve, it will be </span>
<span id="tv_2" class="t s1_2">interesting to see how other projects adapt and innovate to meet the changing needs of their </span>
<span id="tw_2" class="t s1_2">communities. </span>
<span id="tx_2" class="t s2_2">Project Goals </span>
<span id="ty_2" class="t s1_2">The BASE Project has three simple goals: </span>
<span id="tz_2" class="t s1_2">1. </span><span id="t10_2" class="t s1_2">Raise funds to facilitate utility expansion on Terra Classic </span>
<span id="t11_2" class="t s1_2">2. </span><span id="t12_2" class="t s1_2">Accelerate the burning of LUNC to increase value </span>
<span id="t13_2" class="t s1_2">3. </span><span id="t14_2" class="t s1_2">Reward supporters of the BASE project (via Staking rewards) </span></div>
<!-- End text definitions -->
</div>
</body>
</html>