this proposal is HOW TO DESTROY the whole TERRA ECOSYSTEM.
Reverting the state of the blockchain, impeding market forces to work, haircut policies, etc.,
all this are sure way to destroy any possibility for the Terra Ecosystem to ever recover trust in the eye of the public.
Do we want to liquidate and shut down the Terra Ecosystem? The haircut and partial reimbursement is the way to go.
Who ever will be use Terra Blockchain if the transactiions are not final and users are not expected to take full responsibility for their choices and market forces?
Do we want to restore Trust in the block chain? Then a BUY excess Luna and BURN mechanism has to be implemented so that the Luna supply will get back to a lower level.
BUY and BURN Luna that is the solution to save both Luna and UST.
this proposal is HOW TO DESTROY the whole TERRA ECOSYSTEM.
Suggest giving this proposal a read 8 Steps to Save Luna now - Economic Refactoring Proposal from industry professionals - #274 by CryptoKMS which the recovery plan also includes buying back and burning LUNA
Crytocurrency is high risk albeit they are stablecoin or not. People should have known the risk before investing, it was stated in disclaimer of every exchange platform upon sign up.
Ethereum, solana, avax are all doing well without stablecoin. Why do Terra need UST?
It will be unwise to throw in money just to fill the hole. The problem will still exist in the future. FORKING is just as bad, especially ones that aim to, again, diminished new investors interest to cover up the hole of the old investors, just because their own greed of not having a stop loss in place, or their paper hands.
If a ust bought will burn a Luna, will halting ust and put them all on staking works? Meanwhile burn luna with every transaction or regular time basis (monthly, quarterly). We all know it is impossible for Terra to compensate all the losses, if u want some money back, give them time.
- Halt all UST and stake them with x%apy for y given period. Once period end, only certain amount of UST can be sold.
- At the same time, burn Luna with every transaction or on a timely basis (monthly/quarterly/etc) until it is back to a healthy level.
I held mine right until they basically said it was over got 3K out of 74K. I held to the very end and now it look like I won’t get a thing. Some people sold at the end to try and get something back.
Those who bought in luna in 2020 believed in luna, and those who continued to buy luna during this decline are also those who believe in luna.Most of them are now 0 They fell to buy just believing the team could save luna and created an investment opportunity
EXPAND! I offer the LUNA self-healing mechanism! Enter in the burning code 5% of coins from the purchase / sale of each operation until the moment of restoration of the freedom of coins as of May 9, agree this with the binance #saveterraluna #saveterra #saveterraluna #Binance …
EXPAND! I offer the LUNA self-healing mechanism! Enter in the burning code 5% of coins from the purchase / sale of each operation until the moment of restoration of the freedom of coins as of May 9, agree this with the binance #saveterraluna #saveterra #saveterraluna #Binance мммм
Totally agree with your proposal. I’ve read an interesting proposal written by @FatMan where first the smaller $UST holders are being covered.
Though I believe it would be the right thing to do to start with the smallest holders first, the proposal primarily focuses on Anchor users.
How would this work for $UST holders using platforms other than Anchor? I personally used Nexo, but I can imagine there are many more platforms that provide similar services and where holders were impacted as well.
Therefore, conducting the analysis you suggested is spot on. Thanks a lot for sharing your idea.
No, the funds should not be used to compensate. We would all be losing. You have to use the funds to create value.
You should not create a fork, you have to increase the transaction costs and burn, burn, and burn. I prefer to recover my 43K UST which is supposed to be safe in 3 years, to recover crumbs now.
A proposal that might provide more structure to this framework is here:
It might prove useful to consolidate similar proposals.
Please review and provide your inputs…
There’s really not much you can do if you sold UST for a loss… Should based on the snapshot and trace back whoever still holds a certain amount of UST and compensate those who still holds that amount… I sold 30% of my UST holdings at a loss… so I still have 70% left…
Also, I wouldn’t mind being compensated 50-60% of $1 UST… meaning i dont need a 1:1 compensation… a $0.5 for each UST i hold is acceptable…
Let’s be real, there are many UST holders and it’s impossible to compensate everyone at 100% for each UST held… in order to make everyone whole and restore confidence, there must be compromise on all sides… UST holders, Luna holders, the Terra team.
If u realize, Luna holders are saying UST holders are irrelevant while UST holders are saying Luna holders are irrelevant… I would say both UST and Luna are important!! We need to compromise.
Even better if the UST is not pegged to Luna completely… 50% backed by Luna, 50% backed by proper assets like USD or any other instruments like what Tether does… and we still have to burn the Luna oversupply.
There are still people selling luna and sill people buying luna, thats the market for you for every buyer there will be a seller and for every seller will be a buyer at some point.
you never get compensated when a stock loses value, this is the most absurd thing to ask for.
Exactly like CZ said and quite a few others in recent statments
Is it possible to give everyone a choice whether they want to receive compensation now or not? I have a small amount of UST, I don’t need it now, but in the future I need UST to be saved in its original form so that I can store my funds in it.
Excellent point, Semi-Stable coin, that actually describes what it was and what it could be with the right hedge.
erm, fatman’s proposal didnt mention about forking,right? @FatMan
I heard UST was collapsing without knowing much other info about the situation so I pulled out $600+ UST from Anchor and converted it into $6 LUNA. That resulted into approx. 60 LUNA, what about these cases. I don’t hear anything about it
Hi please take a look to my proposal as it is related to yours, let’s fix this together.
they, the old leaders gradually to the disaster of Luna are looking for a fork to regain ownership after running away and fooling all the investors and former holders. They continued to trick new holders into trying DCA to save Luna. Get rid of the fork option immediately with all your might, and boycott Luna v2 if it ever comes out because they’ll be printing Luna 2 and taking advantage of the community again…
The most important question right now: Where are the Bitcoins and Luna’s reserves and the Luna leaders are responsible for the destruction of the reserve and decided to print Luna on these investors.
@wlawyer Buonasera, grazie per il suo lavoro.
Vorrei precisare che nel CEX NEXO non è stato mai possibile fare il TOP UP di UST.
In NEXO tutti gli utenti hanno utilizzato lo swap per avere UST.
Con questa proposta, gli utenti di Nexo possessori di UST, avranno un rimborso?
I can’t agree more. If you have the experience as a restructuring lawyer and only a small allocation in Terra so hopefully not biased why don’t you take the paid lead as a mediator between different stakeholders?