So, this will probably pass. I’m assuming all the validators will just want to get on with it.
What’s the best plan for people who bought the dip going down and are lumped in with the 10%. Convert to UST for a larger percentage of new luna?
Let team know to distribute people according to the current supply they bought at.
If someone bought at 1,2,40,60$ and supply was 400M-10B they would get according to that supply!
Don’t make them compete against 6.15T.
Or snapshot before the halt!
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This is what happened to me. Bought at 3.5c each and market cap 400m
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Step 1: Wait for Luna v2 to pump
Step 2: Wait for community to take control of Luna v1 and start burn mechanism
Step 3: Dump Luna v2 and pump Luna v1 back to 1 dollar+
Step 4: Watch Do Kwon end up with another failed project and in jail
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I am incredibly against forking, however, if @dokwon (who is incredible stubborn) won’t budge then we MUST distribute with the following consideration:
Part 1.
1.) Token holder A held 1,000,000 tokens at a market cap of 1 billion on 5/11. They held 0.1% of the overall supply of tokens. The market cap is recorded and now they would get 100 million * 0.1% = 100,000 Luna V2 tokens.
2.) Token holder B held 1,000,000 tokens at a market cap of 10 billion on 5/12 (early morning). They held 0.01% of the overall supply of tokens. The market cap is recorded and now they would get 100 million * 0.1% = 10,000 Luna V2 tokens.
3.) Token holder C held 1,000,000 tokens at a market cap of 6.5 trillion on 5/15. They held 0.00001538461% of the overall supply of tokens. The market cap is recorded and now they would get 100 million * 0.00001538461% = 15.38 tokens.
For 1,000,000 tokens:
Token holder A (price paid) > Token holder B (price paid) > Token holder C (price paid)
Redistribute in this way that accounts for the marketcap. Do not bin Token holder A, B, and C into a single market cap of 6.5 trillion, rather bin it as %tokens_held = tokens_held_at_specific_MC / MC.
Part 2.
Also, increase from 10% to 20% for holders up to 5/27.
Decrease from 35% to 25% for the holders up to 5/7.
Or keep them equal, do not discriminate.
Apply same marketcap principles for all cases to determine true holdings and distributions.
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I just calculated that I spent almost £17,000 at various prices and my current balance is around £700. The reason was the original investments of 15,000 became under £20 and I added around £1750 more to lower my average prices. I don’t care if Luna never goes back to $100 as I have lost trust and would probably not keep it for that long anymore… just waiting for an announcement tomorrow before selling it all and focusing on other parts of my life… but if things can be improved with the existing Luna and can be brought back to $0.01 it will greatly help breakeven a lot of small traders like myself. I didn’t sleep for a few days but now since everything is becoming clear and I have had enough time to think… my plan is to hide my face from people I had borrowed money from… maybe disappear for 6 months and try to earn as much as possible by extra shifts… then everything will be alright… but I feel sad for some people who can’t do the same.
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The team should increase v2 supply by 100m or 200m.
This reserve should be worth more than $1b in the near future.
Use this reserve for buybacks UST/Luna classic (burns) over long period of time.
There is Ethereum and ethereum classic.
We can do the same with luna/UST and V2.
We can try to fix v1 by using v2…
It should make everyone happy because people who lost lots of money will still have a chance to get some % of their money back.
The team can’t burn Luna/UST now because they have no funds.
The fork is the only solution here…
That’s the only solution to repeg UST again.
Exactly this as it’s fair
You should raise voice then just how I did.
You should be getting at that value not at 6.5T.