Proposal To Request Binance To Help Manage The LUNC Chain
Executive Summary
If this proposal passes, the LUNC chain will formally request Binance to partially or completely manage the LUNC chain until the chain is back on its feet. Any tasks Binance feels they are well qualified and motivated to execute. Binance may also choose to work in parallel along side the current teams with their vast resources.
Voting
By voting yes you would like for the LUNC chain to politely ask Binance to manage the entire LUNC chain, all aspects, or portions of the chain they feel comfortable doing so, all via governance. Or they can suggest the correct internal personnel, project managers or subsidiary best suited for LUNC chain management.
By voting no you would like the current governance and management systems to continue.
If the prop fails we will wait for redelegations, then resubmit for a second and third vote.
Reasons For Ask Binance To Manage LUNC Chain
Widespead lack of trust among all validators, multisigs and key players, devs, lack of builders, lack of confidence in community, greed, rug pulls, undoxxed validators rebranding repeatedly and "fronting" for private entities, KYC arguements, passed proposals not being executed, awful price performance. Over $5 million spent from CP and no price performance or accountability.
By requesting Binance to manage some or all of the LUNC chain, to the extent they are capable of and are willing to, we can unify under one of our largest supporters and heal this chain for the better.
Binance has top notch resources:
CEO @binance
Project Director @cz_binance
Customer Service @BinanceHelpDesk
Development Venture Capital @BinanceLabs
Social Media Strategies/Growth @BinanceGems_BSC
Ambassadors Program @BinanceGems_BSC.
Duties Of Binance
Complete LUNC chain management or whatever level of involvement Binance would want to execute.
Binance duties would include, but not be limited to:
Binance could become a validator, submit props on getting validators to become active participants and follow governance votes or shut down, improve nakomoto, invite new validators in who will commit to voting on props and building, version updates, review and/or add-subtract responsible multisig cosigners, create official LUNC website, consulting, priority list of work, take exisitng USTC repeg work and implement to completion, work with CEXs on repeg buybacks, community wallet management, building apps, checking code, implement any fixes or deficiencies to security and funtionalities, documentation, backups, infra, market module fixes and implementation, whitelisting and blacklisting, chain security review, fix all existing L1 and L2 technical debts and deficiencies, bring in investors. All done via the governance procedures.
Payments To Binance
Community pools LUNC or USTC as funds are available based on Binance priorities and props, via governance. And some of the LUNC burn funds, if necessary. All spends are via governance.
Motivation Of Binance
Binance holds the largest position in LUNC of over 2 Trillion LUNC and 2 Billion USTC. They are also looking for a stablecoin and are building new ones for Japan, so USTC ! They have 8,000 employees and are expanding. CZ has offered to help the community "any way he can". Why ignore his offer?
Link to CZ's offer to help after the April 2022 meltdown.
Conflict Of Interest
People have pointed out that this might be a conflict of interest (Prop 11614). This may be true, but robbing the community pools and current LUNC chain manipulators and rug pulls are in full force and effect anyway. A small number of validators are trying to take over the chain so there is no decentralization now, Nakomoto 3, and all props are failing due to infighting. There is nothing to lose turning LUNC over to Binance until they exit when they have considered the chain repaired. Binance monthly burns of LUNC (over half of total burns!) is strong proof that Binance deserves the chance to manage the chain, and is a responsible party who are above petty conflicts and demonstrated exceptional business acumen.
Exit Plan
When Binance has fixed most or all of the major components of the chain, they can exit if they like at that point and turn management back over to top notch professionals or normal decentralized governance. Via governance.
Opinion
If this proposal passes the price of LUNC will likely skyrocket.
Procedure
Outreach to get this proposal in front of as many people in the LUNC community as possible and take comments before submitting the proposal. If the proposal does not pass continue to get more support and consensus when people have redelegated to supporters, then submit the proposal again for another vote.
I will commit 2 Million LUNC to the process to pay for prop, and am looking for partners to submit the prop up to 3 times. Please submit comments or text edits to me at markmcdon2000 (at) yahoo.com
Author:
Mark McDonnell
On Twitter, Fully Doxxed
Forexearlywarning is looking to build forex Apps on the blockchain.
Valuable edits provided by:
Duncan Day @wrapped_dday Ziggy USTC Repeg Designer.
This draft proposal can be shared on social media with the button in the upper right:
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