Transcription
Hey, what's going on guys? Welcome back to the channel. It's really been a minute since I done my last video. And if you haven't gone back and watched that one, I highly recommend watching it to understand what my current personal situation is.
Like I'm actually working a 9 to 5 Monday to Friday job at the moment to pick up the slack elsewhere because we do not earn anything in Terra Luna Classic. Instead, what we're doing is running at about a $2,000 to $2,500 loss each and every month, keeping everything operational, doing upgrades, licenses, all of those different kinds of things. Yes, we're a legitimate company, so we do have taxes to pay. We've got all of those different things and the fees that come with that. And as I mentioned in my last video, I will do everything that I can to keep all of our stuff operational. And if that means me not creating content and me not putting out all of the information that I do or doing all of the hard work to really get all of these assets burned behind the scenes, then that's what I'm going to have to do. At the end of the day, LUNC is far more important than just me.
Now, with all of that out of the way, I really want to drive the focus on what I think everybody should really push towards in 2025. And you're going to need to watch two videos. This one and the video that's coming after it. I've got a little bit of time and I'm going to be getting into a better routine to hopefully being able to crush out content in the mornings for you guys before I head off to my 9 to 5.
So, what you're looking at here is a spend proposal that has recently passed. I didn't vote on it. I didn't have the time. But what I understand is at this moment in time, we seem to do so many upgrades. They lead to nothing. Yet, we're told that they're essential. We really need to do them. And really the only people that are winning from this are the development teams. The only people that are making money are these development teams. And we're effectively caught in this weird perpetual upgrade loop where this is all that's offered in terms of forward movement, in terms of what would normally be a road map. And from my perspective, we are still driving a vehicle that is screaming all of these alarm bells. Yet the only thing people are interested in is changing the color of the car. And I mean, if you're looking at how many upgrades we've done, we can roll through all of them over the course of 2025. You got one, you got two, they just keep coming. Three, four, five, six, and they keep rolling out just like this. Each upgrade being the next big thing that we need. It's going to make all of these changes and things are going to be a-ok. Okay. And the price is going to go up. And this is simply not what is happening. Changing the color of the car is simply not working anymore. People are not buying into these upgrades. I myself, as a validator, am not buying into these upgrades because we've got so many issues at the moment. The chain is in a severe decline and all of these top-ranked validators simply do not care and they're all grabbing whatever they can at this moment in time before this chain finally goes kaput.
Now, what needs to happen is a brand new drive, a new momentum, if you will, a new initiative to look at the current dynamic commission module and make changes where necessary. And if anything, creating a new module entirely because it was created during a time when things were a lot different. Now we are at a point where you can pick up a lot of LUNC for quite cheap. You can come on-chain, you can create a validator, you can self-stake, and suddenly you're a top 10 validator that has appeared out of nowhere and you have no general interest in the blockchain. Essentially, right, all of the people that have got voting power, that are making the most money, aren't supporting the ecosystem. They're not building anything. They don't care for the future of the ecosystem. They're not out there grinding each and every other day for the Terra Luna Classic blockchain. And I mean, hardly any validators are doing that at this point. Instead, they say they're using LUNC and then it all just becomes this vampire tap on the ecosystem itself. And we've got so many Layer 2s at this point. The L1 suffering so bad that all of the L2s are just going to die anyway. All the validators are going to die out anyway if we do not make a change to this dynamic commission module.
And the reason why I can really stand and hold my head high at this point, right, if we just flick over and we're going way back in time here. Let's take a look at the dynamic commission proposal that went through and this was my own birthed child, if you will. It was an idea that I had really gone through with Strafe Cole and then Strafe Cole went on to develop it with other people and it was implemented. And what a lot of people failed to remember, and you might be new, you might have not been around during this time, I was ranked third, I had around 9% voting power. And what it did was introduced that dynamic commission module. And what did that do? That absolutely destroyed my voting power down to around 2.8%. 8%. And that was the sacrifice that I made for the greater good of this blockchain. And what we simply do not see is validators like All Nodes making a sacrifice like this. Any of these new top 10 validators that have come in are not going to be making a sacrifice like this. But if enough validators band together, right, and work to make changes to the DCM and then also introduce some kind of voting power cap where essentially 4% is as much as that you'll get paid out for. And then in the same way, you would tinker and tweak the voting power system because we've got too many validators with too much voting power that are gaining too much money from this ecosystem, and it's going to die. And these validators are not going to make a change. If anything, we need to boycott All Nodes. We need to boycott all of these bigger validators that have suddenly gained and shot off into the stars. Validators that are running two nodes instead of one. Anyone that is putting a strain on the system at this point is now responsible for the possible crash that we are going to suffer for a second time round. If we do not make these changes, right, it's only going to get worse.
What evidence do you have that things aren't going great? I'm barely here creating content. I took every grain of spare money that I had to fly to the United States to do work for this ecosystem because I knew no one else was going to do it. Even people that lived in the United States and live in the United States, right, aren't going to go and do it. What evidence do you need? Well, I went and did it. I flew out during Christmas. And again, these are not sacrifices that other validators are going to make. But now we're at a point. We're at the crossroads. We are at point critical. I'm back working at a 9 to 5 Monday to Friday just to keep the lights on with all of our operation here for you guys. What does that tell you?
Let me know in the comments section what you guys think. Should we change the DCM? Should we introduce some kind of system that is going to tweak the current voting power that all of these top validators are getting? When are we going to put rules in place to prevent this chain from being bled dry from these bigger validators? When are we going to stop dealing with people double nodding? When are we going to stop dealing with people launching one product and then going, right, now I'm going to have a validator for every product I launch, knowing it's going to put a strain on the system? These are all of the questions that I would really be asking at this point. But let me know what you guys think.
Like I was saying, uh, earlier, I'm going to try to get back into the swing of things, trying to get a routine going where I either create content at night or I create content in the morning for the day ahead, keeping you guys as up to date as possible. But things aren't easy. I've got two growing boys, back working a 9 to 5 Monday to Friday job. So again, just bear with me at this moment in time, guys. It's really, really not easy, uh, for people like me. But stay safe, stay humble, stay aware, and I'mma catch you in the next one.