As you may be aware, Do Kwon has recently proposed a hard fork to reboot the Terra ecosystem. Over on the agora.terra.money forums where additional measures and alternatives to hard-forking are currently being considered, there is a faction that believes that restructuring Anchor will necessarily be a part of any UST/LUNA recovery plan. As TFL continues to cast doubt on the future of the chain itself, we are currently considering making some parallel progress by working on the Anchor Earn restructuring through Anchor governance.
Our current idea revolves around tiered interest for the fixed-term locking of UST and LUNA, to promote demand for both UST and LUNA; e.g. as proposed by Nikola-Hydrachain
- 6% for random people → Direct UST deposit
- 10% for bLuna owners $1k min → Deposit to lockup UST + bLuna
- 12% for bLuna owners $10k min → Deposit to lockup UST + bLuna
- 17% for bLuna worth $100k + lockup of 90 days → Deposit to lockup UST + bLuna
(thus creating demand for both assets)
As you can see, the original plan involved bLUNA; however, we are now looking for a good way to do this in the face of staking currently being disabled.
We are looking for discussion and feedback about the base plan of restricting high interest to locked deposits paired with LUNA or some LUNA staking derivative. Please keep discussion narrowly focused, as we are looking to draft, as soon as possible, a text proposal that can be brought for on-chain vote.
Looking forward to your responses!