Transcription
The saga of Teral Luna classic is one of, let's just make it up as we go. When you listen to people like myself, uh, who believes that we need to build, or that we need to do AI, or we need to have prediction markets, that we need to develop a more robust system. Then you have other people who shoot down every proposal because they want purity and they want layer twos, which are important, but they don't want anything to be built or one. Right?
And we're four years into the collapse of Teruna Classic. Four years. And in four years, the people who have been largely in charge, or I shouldn't always say in charge, but the people with the biggest following have put you where you are right now. If you had invested $1,000 like I did four years ago, then your investment from four years ago is about 300 bucks. So in four years, including a bull run, they've wrecked. Okay?
Now, I'm not going to name names, and I don't want to throw shade at people, but I do need to point a few things out. And I'm gonna ask you, even if I say something that you don't like, just hear me out and recognize that I'm giving you my opinion, and I don't want to tell you what to think. So, I'm going to try not to, but sometimes I can't help. Okay? So, let's go and let's start. And make sure you hit that like button on the way in or wait until afterward.
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So, [gasps] Jake Hollis, Jake Collis, uh, you formerly known as Happy Caddyy Crypto says, "We are cooked." Says, "Teruna Classic is probably cooked at this point." Um, and this shouldn't have happened to the TerraClassic blockchain. I, if you don't want to watch it or you don't really care about what he has to say, then let me summarize for you. Uh, he has a problem with some of the building that's being done in the eco. Okay. Uh, he has a problem with this USC signal proposal because it, it's going to end up with a minting process, which means that it's going to mint more USC, which means that it's ripe for exploitation. Now, Vegas is to his credit saying that that's not going to happen, but we don't know that to be the case. So, Happy Catty is telling you we're cooked and that there's major issues.
Happy Catty is also the same delegator who has not voted on a proposal in uh over 3 months. Prior to that, he made two votes, but he also did not vote for 6 months. So you go back and you look and you see that, you know, this is a very or a fairly active person who just stopped voting. So, um, now to me, that's dereliction of your responsibility as a validator, but I don't think that there's really a requirement for validators to vote, and I, and I don't think that that's the case because people like these validators, they're not going to hurt themselves by requiring themselves to care about the blockchain. So, uh, and I don't know. I've told you before, in my opinion, this is where I'm going to give you my opin. I think Happy Caddyy Crypto wants what's best for Tier Luna Classic. He and I just don't agree. For example, I think what's best is the people who are validators should vote on everything. Whether they agree with it or not, they should vote on everything. Clearly, he disagreed. So, we have disagreements, but you can see right here that, and you can see, you know, along the line why he did or did not vote. And by the way, u, to his credit, he likes to tell you why he does or doesn't do something. You see a bunch of did not votes. But if we go back, no with veto tells you why. Go. No with veto tells you why. No. Yes. With yes tells you why. Abstain. Um, no with veto. He tells you why. This guy's right up front so that you know exactly what's going on. And he handles a lot of people as a validator. Happy Crypto has a delegation of 4,681. When you start looking around, that's one of the top. So, his influence around here is vast. So, um, even if we disagree, we should at least respect that Happy Caddyy Crypto puts in the work on the blockchain mostly.
Now, we're going to move off this for a second, but we're coming right back to all of this in just a moment. Now in the lunk newspaper, there is a USC staking proposal key benefits and ecosystem impact. And uh, this is US staking encourages a shift in user behavior from short-term trading to long-term participation. In theory, uh, the proposal introduces a structured and controlled reward system. Um, the model targets an approximate annual percentage rate of 10%. Rewards are distributed gradually through controlled emissions rather than immediate minting. Funding sources remain flexible and may include the community pool, protocol fees, ecosystem support, and optional inflation if required in the future. Optional, this is where we start to get into the problems. Optional inflation means a mint pro. Okay. Um, staking plays a critical role in increasing blockchain activity. That is true. The proposal introduces a major new use case for US. Uh, I mean, I'm going to say that's true. Um, just holding something, I don't think is a real enough for, um, USDC staking is designed to create positive effects across the broader ecosystem. Uh, the proposal directly supports the efficiency of market module 2, which we know the staking model introduces a balanced approach to supply management. Proposal is fully governed by the community. The staking proposal also serves as a recovery mechanism. Um, so when you dress it up this way, it sounds intriguing and it sounds like a pretty opportunity. I don't know that it is, because if there is a mint, if there is a possibility of something like that, then it's probably going to end up happening at some point, and I don't like that. So, um, I, I'm not saying I'm on board with this or I'm not on board. I think you should go back and read this whole thing through and decide for yourself what you think. I'm trying to be as unbiased as I can. But let's move on.
There's also a discussion here. I'm going to encourage you go to Lunk Daily and talk about this is why layer 2 tokens are important for Lunk growth. Um, and I think you should read this just so you understand exactly why it's so important that we have tokens inside this Coinbase ecosystem.
Now, let's get into some interesting stuff here. These are the no with vetos on the USC staking system. If it were me, I don't think that I'm on board with the USC staking system. In my brain, it makes me nervous. However, nothing that we've done has worked. This is Teruna Classic in four years. So stop me when there's something that's worked here. Anything at all. Any, just stop me where? Show me where anything that these people have done has worked. We are consolidating at the absolute lowest point. But so is Ethereum, right? We zoom out on Ethereum and, oh no, we're not. We're actually consolidating at a pretty high level compared to. You see what I'm saying? Uh, but Salana, I mean, Salana's way, way, way at the bottom of. Oh, wait. No, no, that's right. And it was down to $8 and it's currently trading at almost. So that's not the Terral Luna Classic is, however, trading at the bottom and we're not doing too much about it. All we're doing right now is watching it bleed. It's really it. So, um, I don't think that anything that anybody's doing has been working so far, and there's been fighting. And I'm not saying that the, the, the plays that people want to make. I'm not saying that what Vegas is saying is right or wrong. Saying you should decide for yourself and you should vote for yourself or delegate to people who support what your belief system is. Um, but I, I, I don't see that everything that has happened up to this point has worked at all. I don't think anything that these people have done has mattered.
When we talk about Happy Caddyy Crypto, uh, he's got a wallet that he created. Uh, he's got a a website that he created, Lunk Dash, and, you know, if you want to, you can engage with and get all the data that you need. That's not a lot when it comes down to it, but that's important and and just an almost imperative sort of thing. If you're in the Teral Luna Classic environment, you want to know that you can go to a place like Lunk Dash. So, he's not necessarily a builder, but he's an observer and he made something to observe. So, I mean, again, bringing it back full circle, I think that Happy Caddyy Crypto really wants what's good for the chain, but we fundamentally disagree because he thinks things are not fine because he says we're cooked, but we're cooked because we're trying to do something different.
Now, without further ado, I'm going to ask you to look at something as a question, and I'm not going to tip my thumb on the scale. These were the notes. Greenpeace United, Jesus is Lord one and two. You know the anybody who's trying to stifle progress, you know who they are. You know how they're going to vote. I knew, you knew. We all knew how they were going to vote to stifle progress. By the way, I'm not saying this is good progress or bad progress at all. Just saying that it is progress. So, we know who's going to stop progress.
But one of the biggest questions that we've had in a very, very long time, Dutch lunk. Dutch lunk holds about 15% of the voting power. Dutch Lunk, if you remember yesterday, immediately voted yes along with Vegas notes. So, who's running Dutch Lunk? Why are they holding so much supply and why are they voting at the same time that Vegas? Now, I don't know the answer to that. I know it was weird for me to see. I know that Jesus is Lord one and two means that it's okay if Vegas maybe in some way is either part of Dutch Lunk or if Dutch Lunk and Vegas are one and the same or if he's just friends with somebody that, like, whatever it is, it's okay because we have multiple Jesusing out here.
But remember when I told you that Happy Caddy represents people, the people, uh, he's like the fourth largest in terms of delegators. If you go down this list here and you start looking around at delegators, he's like fourth or fifth or maybe sixth or something like that, you know, among delegates with actual people, 4681 delegate. Dutch Lunk, who is by far bigger than anything else out here, only has 298, which means that the whales are using this to potentially, not that they are, but potentially manipulate voting to their own benefit. Which again takes me back to what we were talking about before. Remember when I said I, I'm going to go back and I don't know if you're going to remember this, but remember when Dutch Lunk was really pumping super hard and I was like, "What happened to Vegas?" because, you know, he was kind of up there for a while and then just just kind of fell off. Vegas node kind of just fell down. We look at it over the long term and we look at where was delegators. We look at the delegators over 12 months. Like we got more and more and more and more and more and more and more delegators were growing, right? But how many did he have? What was his percentage? I don't know. By the way, I don't know what the number is on that. So, I'm going to leave it to you guys to try to figure out there. And by the way, again, there's nothing wrong with this if other people are doing it. That is the way that it is. But it should be concerning and alarming to you that 298 people and a,000 people, meaning roughly 1,400 people, 1,400 people out of 32,000, 50,000 are controlling what happened on the chain. You should be alarmed.
By the way, 168 million burned 7 days. Not good. But do you see where the concern would be? If, if you, if you like what Duck Dutch Lunk has been doing, if you like what Vegas has been doing, then you probably want to keep doing it. If you don't, then you're probably thinking like, why are 298 delegators controlling a block? So, there are some questions that I think a lot of people have that we don't have an answer for. And you might say to yourself, well, we deserve to have an answer. No, we don't. Um, you get an answer if there's a protocol that says that you should get an answer to a question like that. Uh, just because you feel like that doesn't mean that you get to exercise that. Just your opinion. That's what I think is going. I mean, that's and I'm not. This is all what I'm saying is I don't know what Vegas has to do with Dutch lunk. I don't know who. They don't give me anything. I don't get anything from anybody, you know what I mean? So, um, I don't have a, um, a skin in this game in the same way, you know. I'm just a holder like you guys. I do partner with Terra Casino and Terraport. You see the ads, you see that every month, but you know, I, I don't really h I don't I I I thought about creating my own validator at one point, but this is a manipulated chain and I don't think that there's really a path forward for normies, if you will. Like myself or like, um, even Happy Caddyy Crypto. Um, there is a a high level of manipulation happening. I want you to think about that. Let me know what you think in the comments down below.
But let me finish this off. We're going to close this out. 168 million burn. We're going to look at the chart. Nothing has fundamentally changed. Uh, we're down, uh, we were down about 80, 90 million billion dollars on the day, having another push down to the bottom of the range. Um, what I told you, what I thought was going to happen 24 hours ago, 100% happened and then it got bought back up very strongly. So, uh, it looks like maybe a nice little run. And, uh, it looks like, uh, Trump has extended his deadline by another 5 days. So, we've got until April 6th, uh, for something to happen here with, uh, the negotiations between Iran and the United States and Israel. So, we'll see what happens there. Um, that's been that's good because that will allow the markets an opportunity to breathe. Uh, we're consolidating under the 50 MA. We need to get back above the 50 MA. So, I'm hoping to see that happen over the next couple days. Nice to see a move up to the 200, uh, MA, which is sitting at 4198 right now, and then a little breakout above would feel that would be confidence inspiring. So that's where the price is. And trade volume is up 25% on the day, but it had gone all the way down to about 7 million yesterday. So it's back up to 9 million, which is an increase overall. But I mean, again, um, if we're under 10 million, we're not getting it done. So, uh, we need to see some kind of spike here. Uh, but we've got a we've got pretty firm market cap, I guess, at this point, 200 million. But there's a lot of questions and I don't have answers. Uh, I'm trying to be as deliberate as I can with this. So, let me know what you think in the comments down below.