Make LUA Great Again - Things needed to fix the broken project

LuaSwap
1

Hello,

The incentives of DeFi and farming various tokens have been flawed and short minded. Currently minting tokens to pay people farming is a trend largely spreading through the DeFi space, sadly people do not understand that it is not sustainable.

Time to introduce the Deflationary Farming mechanics.

  1. Lock the liquidity forever for anyone that provide liquidity, this is to solve Fly-by-night whales who just want to get yield on their money and do not care about the underlying project. If whales want a peice of it they can farm like the rest of us and locked liquidity and get returns, or buy from the open market, pumping the price and in returns the liquidity providers gets a % of the fees of those trades.

  2. Introduce a transaction TAX on each transaction where tokens are burned, the supply is limited (lesser the supply the more demand in terms of price)

3.Every Trade that is done on LUA a % of the fees should be given to the liquidity providers as incentives for locking up their liquidity.

The solves alot of problems and also caters for the supply issue, since we will move from a inflation model to a defalation model.

The MAX supply for LUA ever should but cut down to 30,000 Tokens.

Thank you for taking the time to read the proposal.

Similar projects with a really great working model - https://medium.com/@0xdec4f/the-idea-project-and-vision-of-core-vault-52f5eddfbfb

Regards
M

3 Likes
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This is a very good idea, the dumping is too much and that is why the market keeps going down! Lock the liquidity and future provided liquidity then burn some token supply to reduce the total supply. This will prevent the Lua from crashing forever !

2 Likes
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I agree there should be a transaction burn. I have already proposed a 2% transaction tax, you guys are more than welcome to vote or state a different proposal than mine. What we need is some kind of token burning mechanism.

I think we also need a supply-burning proposal. A burn of 70%-80% of the rest of the supply would be good.

1 Like
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LuaSwap is not about farming or token price. If you like CORE, go buy CORE. But LUA token contract cannot be changed. It is a setup following the vision laid out in this post https://medium.com/luaswap/introducing-luaswap-org-7e6ff38beefc

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Spend some more time on your research. The logic is flawed on many levels of all people you know it too.

Let me enhance your knowledge, enjoy reading and you can thank me later.

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Do you know LuaSwap will not NOT be running through Uniswap in a few weeks?

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Yes i did read and you are referring to -->> “The first one is to port LuaSwap to other low cost, more performant public chains which will increase brand awareness, number of users, and increase the cash-flow to the protocol.”

to that i will reply: That just changes the location from one blockchain to another.

I will wait out 1 months before i will re-comment on this thread. We both will see where LUA is and where the LUA price for investor is too.

None of my suggestion are taken onboard. So i don’t want to be wasting anymore of my time nor yours.

Time will tell both of us and show who had the right vision.

Thanks for taking the time to reply to my messages and reading my proposal.

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Madni. no, Long wasn/t referring to that.

if you read carefully the luaswap medium intro you will know the concern you have about the black hole draining value is not relevant and not applicable to luaswap

" Liquidity Migration

Farming LUA on LuaSwap will start by staking Uniswap LP tokens from our Uniswap Pools. The swapping facility will be launched approximately 4 weeks afterward. When that happens, we will run migration contracts that migrate staked pools from Uniswap and SushiSwap to LuaSwap automatically. Users and liquidity providers won’t need to do anything if they want to stay with LuaSwap."