[Proposal] bLuna upgrade

What happens to the Luna-bLuna LP. Is a new pool opened with Luna-stLuna? How will that be affected?

given the advantages of stLuna, why would we still need bLuna or in another word, what’s the advantage of bLuna over stLuna ?

I don’t like the add ons.

Feels like a senate spending bill or something.

“We’ll fix the distribution imbalance, but you’ll have to accept a new token and fees.”

The imbalance can be fixed without this add on, or transfer of contract ownership.

The new pool with stLuna-Luna isn’t opened yet (since stLuna isn’t deployed yet), but it is definitely to come right after the stLuna launch. bLuna-Luna pool will be with us for some time (the largest incentivized pool on astroport at start, no less!), but the stLuna-Luna pool will be better for providing liquidity in the long run, so eventually stLuna-Luna pair should mostly displace the bLuna-Luna pair. bLuna-stLuna conversion is immediate and constant price for any size, so stLuna liquidity is at the same time bLuna liquidity.

For those who want to immediately convert their bLuna to Luna will be a simple interface to do that, which under the hood will swap bLuna to stLuna and then sell stLuna for Luna.

Those who want to buy bLuna on the market (instead of mint it) will have the ability to buy stLuna and then convert it to bLuna.

Just as in the stEth/bEth pair the main advantage of bLuna is that it’s could be used in Anchor protocol as collateral. Also, other protocols that prefer to have staking rewards to be separate from the principal.

It’s hard to strike a perfect balance between having too many votes over every minuscule detail and having too many things in one vote; I think this vote is fine, as it packages a single upgrade in a single vote. Ofc you don’t have to agree.

Trying to wrap my head around how stLUNA will work. Based on this, am i right to say that stLUNA will not maintain its 1:1 relationship with LUNA as time goes on? Instead, stLUNA will work like xSUSHI, which increases in value over time?

If yes, then how does instant conversion between bLUNA and stLUNA work? What will be the exchange rate between the two? If value of bLUNA < value of LUNA < value of stLUNA, there’s no way i would want to swap stLUNA → bLUNA 1:1. If an oracle is required, are there going to be attack vectors around that?

Regarding this, does it mean that people who LP in bluna-luna right now are not getting the bluna staking rewards as its attributed to the pair contract, which in turn is unable to claim from the rewards contract? So effectively some yield is permanently lost?

Another question is, do you forsee airdrop claiming coming to bluna/stkluna?

Stader’s liquid staking solution at the moment already gives holders access to the airdrops.