Any updates on UST plans?

General
1

In the revival proposal that passed recently Do Kwon mentions that the token allocation on LUNA2 to UST holders was to be “in addition to best efforts to make UST holders whole again”. I have yet to hear anything resembling a hard commitment from LFG to raise new capital and/or use available capital towards that end but with USTs current marketcap of roughly 250mil USD, LFG should have enough capital on hand to slowly buy back the UST based debt they have accrued until such time that supply is so reduced that there is a viable opportunity for the peg to return.

This is only possible with LFG’s full commitment to UST debt holders which I have seen scant evidence of at this point. Anyone seen anything I may have missed?

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It’s a great idea, but I think there is a small chance it would happen.

  1. In the least, he might want to see how the lawsuits play out and retain as much capital as possible before he/ LFG deploys any to bring more value to the chain. Imagine a scenario, they buy and burn USTC but still have to pay > 9-10 figures in restitution

  2. It could be hard to obfuscate. People may catch on it’s LFG buying.

  3. I imagine buying even 10 million USTC would increase the price a lot. It would have to be a very long, slow buy that could take well over a year.

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