I agree!
Now it’s the time to put down all ego and eat the humble pie.
The solution should be the best for the community, not feed an individual ego.
I agree!
Now it’s the time to put down all ego and eat the humble pie.
The solution should be the best for the community, not feed an individual ego.
I support this. Simply ditching the stable coin will ruin defi for Terra.
You should calculate buyback at current prices, not at the price article is written. Do your own math
Beautiful. Nice to see this professional work.
Capital is already flowing back into LUNA because there is a potentially great investment. If that goes away because of uncertainty that your LUNA is actually a LUNA token and subject to market forces it is dead and rightly so. When the candles go green all of the LUNA “believers” and “supporters” (The new name for LUNA speculators who lost) who are currently asking to be refunded at the expense of fair market participants can make back their losses. Spread the word of what a great opportunity this is, and they will all come with their $10, $1k and $10k bags. It could turn around at a parabolic rate. Nice to see life come back into it. Let’s hope we don’t screw it up. Let’s stick it to Yellen and bring this back to life.
As more time passes, and no clear plan of recovery arrises, more and more people will start buying the dip, and more and more this solution would start to make sense.
Well here’s another way to go about it Start the burn of LUNA with the circulating supply in the Exchanges
For clarity - this means when UST’s fair value is $0.50 for example, 1 UST burned mints only $0.50 LUNA, but $1 LUNA burned mints $2 UST? If this is what is being proposed here, this is the most brilliant proposal I’ve come across and I think it’ll save LUNA and UST.
My 2 cents - allowing CEX buyers to purchase $0.50 of UST to mint $1 of LUNA to sell puts only a one directional pressure, that being LUNA price. Equalising this on-chain means giving LUNA holders an equal opportunity to counteract sell pressure AND also dissuades on-chain UST holders from burning their UST as they only get $0.50.
Please correct me if I’m wrong, happy to understand this better.
I want to add that the reserve BTC could be used to buy back discounted UST first (which arguably can buy up almost the entire supply) —> employ the new dynamic UST mechanism —> restart the LUNA burn to mint UST and watch the mechanism work
*edits: buying back LUNA to burn works well too
guys, let’s make posts in this thread marking @dokwon so that he will definitely read
and it is better to write a link to this topic in his personal account or on twitter
It may hit $10 imo heres what the terra team and
should do. 1. keep off the minting of [#luna] 2. permanently depeg luna to [#ust] 3. stop the mint of ust 4. put burn mechanism say 10% liquidated to ust until ust stabilize to $1.
Good proposal
They do not want to accept new reality. They just want to start over and pretend this never happened. If there is a fork Luna v2 ike they suggest, it will crash and burn at the minute airdrops arrive.
This is the best proposal and only way out.
Issuing a LUNA 2.0 is non sense. And reverting is non sense as well, just like a building a time machine, and go back like nth happens. If it does work, I guess no one will invest in Crypto as well. And if it’s work, Bitcoin holder can just make it back to 60000 usd or above. To save the project, we need to follow the rule of the market, instead of making LUNA 2.0, 3.0 4.0.
But I dun think the validator will help. Cox they just want to keep their BTC in the pocket. But if they dun rescue, the whole LUNA system will become a fraud. Because they have claim that there will be some BTC to back LUNA and no one see how to use the BTC to back the system.
If it’s a fraud, there will be lawsuit. Hope they understand
Sou far best proposal .
ABSOLUTELY amazing proposal. The one kwon suggested sounds like a middle schooler did it compared to this one. This has to be taken into discussion and be voted for.
Thank you for this proposal! As a Luna staker and active voter in the ecosystem this what I have hoping to see from TFL. Thoroughly agree that creditably and faith need to be restored and am so disappointed that their are not taking ownership for the death spiral. Regardless many of use believed in the Terra ecosystem and it would tragic throw it all away on a fork and new token.
100% support this proposal and have been sharing it on Twitter on some of the Terra influencers with large followers (unlike myself) n the hope it gets more attention the the Terra Go Forward proposal.
Thank you again.
THIS proposal HAS TO BE pinned now!