Terra Initiates Proposal to Burn Remaining UST

– A new proposal named “Agora” was presented on May 12 by Do Kwon in order to rescue UST.
– The proposal is concentrated on adjustments to mint and burn parameters of UST.
– The voting is currently underway, with 62% of votes in favor.
– The main points of the suggested plan are to increase the BasePool from 50 million to 100 million SDR and to decrease PoolRecoveryBlock from 36 to 18 blocks.
– The result should help to accelerate UST outflows from the system, reducing swap spreads and pressure on UST peg, but coming at the cost of LUNA token.
– Terraform Labs urges its followers that once the proposal for adjustments is accepted, the recovery will speed up.

 

14788 Terra Initiates Proposal to Burn Remaining UST
Terra Initiates Proposal to Burn Remaining UST 2

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