wlayer
I totally agree here with you and the way forward. Even though I am at a managable loss I do thing for the good of the project to move forward.
I will back any proposal that comes in this shape or form that both representatives of USD and Luna come to an agreement to move forward.
Better to have something than to have nothing.
How about leaving everything as is now. And have a structured, functioning burning mechanism. Burning 65-85% of the current supply? But then it could be spread over time, say in 4 months? That way both UST and LUNA holders, past and present are happy.
In case you are wondering who the hell I am, I am not ELON MUSK. I am just another kindhearted person in this space who wants the best for everyone. Like this comment if you agree with this.
Looking forward to hearing from you.
You can not burn 6 or 7 TRILLION Luna… It is impossible as the moment Terra Foundation annunce that no one will sell they Luna for 0.000xx cent - I wont for sure.
So would you sell if that was the case?
Luna Version 2 is the answer and the economics can be discussed.
Hello everyone,
I can’t post in the forum yet because I am a new user, I ask someone to do it for me. The title of the post should be [SALVALUNA: Real Recovery Plan for LUNA/UST].
I have read very carefully the various proposals and comments from various interested parties.
Below, I report a structured plan that in my opinion, could give a new boost and strength to this fantastic blockchain.
First and foremost, we need to get back to stimulating the purchase of USTbecause this will benefit the entire ecosystem.
To do this, I propose the creation of a new governance token: SALVALUNA
SALVALUNA will need to have a Market Cap similar to Luna’s before the attack.
SALVALUNA will need to be distributed to:
A) Those who have created a portfolio on Terra Station at a date prior to the attack.
B) Those who created a wallet on Terra Station at a date after the attack
Those who belong to group A will see a free airdrop of SALVALUNA for an amount preceded perima of the attack.
Those who belong to group B will be able to exchange LUNA for SALVALUNA at a discount price
That said, we need to create an ecosystem similar to the one present before the attack but less vulnerable.
For this very reason, I propose to:
Up to 1000 UST, instant withdrawal
Up to 10k UST, withdrawal in 24 hours
Up to 50k UST withdrawal in 48 hours
Up to 200k UST withdrawal in 72 hours
and so on…
Some concepts may be slightly inaccurate but I want to give you all a chance to evaluate and possibly improve this proposal.
If you read threads and posts for 10 mins you get the power to post a thread…
Ok thanks!
I’m asking because I don’t know. But is not more simple to refund it? Ok you bought at 0.5 -0.005-0.005 for 10k, receive 10k back and that it. At least you recovered the money back. Yes you cannot hope for more xxx but at least you’ve got the money back. I’m thinking that people are more happy to receive their money rather to know that if they wait with their bags for more xx.
I really don’t know and that why im asking if is possible. I think this can be easily get on exchange it. When you open am order for how much and then take your money back. Or is even possible? Yes is frustrating to know that maybe you don’t make and xx but hey, at least you have money back.
They could actually do that whenever people buy or sell. There could be a 3% fee. And it should go to burning
My opinion only, I think the best compromise is cutting the mechanism between LUNA and UST, and tediously raising the price of each slowly through independent means. Knowing that it’ll take a lot of time and capital to do so, and that there will be people dumping the entire way, during intermittent periods of little to no activity both prices will go to near zero levels in which TFL can purchase vast quantities to burn. When each reaches a certain “milestone” of progress, it is my thought that people will take notice and exponentially begin to take part in the recovery again. We will not reach previous levels but I do think it may be one of the best ways to restore confidence, I personally think a comeback story from a situation this bad would be much more powerful than a fork reset.
There’s going to be a huge overlap between all of the groups. Of the people who held LUNA before the attack, some held then sold, some sold then bought back, some eventually sold everything, some bought a half a million LUNA for a few bucks right at the end. Some who had huge piles of both UST and LUNA sold everything at a massive loss, so now have no voice.
How can you divide this mess into discrete groups? Just about everyone is going to be in every group (apart from the dev group). We will have the same cacophony that we have now, just in more groups.
How are leaders going to be elected? What is the mechanism? What are the voting rights? I don’t see how these groups will be any less chaotic than what we have now.
We’ll hear from TFL within a few days whether there is anything at all left in the coffers. Each of the projects built on Terra will be deciding whether or not it is feasible for them to continue on Terra. When more information is available, perhaps realistic proposals that can be brought both to the community and to VCs will start to emerge.
I commend your attempt but I can’t see anything meaningful being decided on this forum in the immediate future. I hope I’m wrong.
I agree that is a potential solution.
I personally think the fair thing is to offer UST holders say 20-50c on the dollar for their UST debt or a conversion to new LUNA chain tokens.
But the fact that there is a free market for UST on exchanges means this offer is in fact open to UST bagholders already.
But I do think we should stop huffing the copium that LFG will bail us out.
100% I agree
Well the upside is that each forum would discuss the interests of that forum only. So a UST forum would only discuss proposals from the perspective of a UST holder (even if they hold multiple bags).
Election mechanism etc is to be decided. In tradfi, the largest instrument holders would normally appoint themselves to lead the group’s negotiations and everyone trusts them because interests are aligned. How it works in defi is up to all of us.
FWIW I have no hope of this passing as a ‘community vote’. This needs to almost be an executive decision by TFL to create these forum categories to start with just so we can even begin talking about all these other issues.
We need to tune out the noise or we end up with nothing.
Why dont rebuild on what’s remaining now… The actual investors private regarding to all posts etc, are starting to believe again the tech team and the main brains will stay, working hard and passionately… For a while the sacrifice everyone should have to do is like ether or else, start to pay higher number of fees… everywhere. These fees will have a % of dispatch regarding the losses made to all investors who stayed from start. (not one of them).
The next funds raising if any happens in the next weeks/months will partially be dedicated to these ppl also.
Al together with the advertising this shit made, we can go threw.
Ask all CEX/DEX etc to increase %fees and start revive the old community by little on time… 1% fees on many millions daily is a lot.
Could starting to help the most desperate first… Then, if you help someone in a big shit, he will be thanksfull, if he can be back in the game after tryhard… Let’s hope he will stay thanksfull…
Also stop for the time being all protocols giving 10%+ APY. This wont help to keep these for now.
All for One & One for All.
Thank you for this valuable contribution.
I hold both UST and Luna, by bags haven’t changed pre-de-peg vs present so I have an interest in both UST and Luna surviving although I had way more $ value in Luna pre-de-peg.
I still believe UST needs to be the initial priority then we can focus on rebuilding Luna, both are important but I believe one is more important right now.
Anyway, thank you again for writing this. Hopefully leadership will take notice…
Hello, how can i post? Actually, I have 16 mins of read time.
You get a message in your inbox when you first create your account sir.
Read that for instructions.
OK thanks!
Agree, in fact, the snapshots of ust holders are relatively simple. The depositors who have been stored in anc can provide snapshots extracted at different times, such as May 9th, 10th, 11th, etc., which are roughly allocated according to different times. It should be better to identify and count the problems of savers
Why is everyone criminalizing the so called “post-attack” dip buyers
Aren’t the real villains the “pre-attack” holders who oversold and caused the death spiral in the first place?
So they use the “criminal” dip buyers as exit liquidity and now they want to screw them over???
Screwing dip buyers will give LUNA a bad name and no one will buy the new fork.