**Summary: The best way forward is to use BTC/bailout money to buy excess Luna. Exchange trading needs to be shut down during this time and excess Luna needs to be burned. When trading resumes, Luna should be around $1 with the liquidity of the bailout available to support the price. As Luna recovers, UST will also recover and make it more stable than ever.
After seeing all the proposals thrown out, it’s become clear to me (whether I like it or not) that Luna needs to be restored to make this whole again. The bailout plan fails just like most bailout plans in that it is only a temporary fix. If the aim is simply to repay people and move on then this is fine. However, I think this still has a future so a true fix is needed. Kwon and team tried to bandage the problem while it was happening but now that we’ve reached the bottom we can honestly look at the whole problem and figure out a true solution. The bailout plan also doesn’t account for new investors and those currently buying in. I’m not saying it’s right or wrong that treading is still happening but every hour and day that goes by it just adds more and more people to the whitelist and creates more grey area as to should get paid.
Restoring Luna will allow UST to restore naturally. The frustration of course is many people will become millionaires in the process off of everyone else’s loss. Those that have bought in low and those that buy now up to $1. So what about this proposal? (Feel free to comment and discuss)
Using the bailout money, the devs buy a large amount of the excess Luna that was minted (don’t have an exact number just a framework idea). They burn this excess immediately. This isn’t new really but what I think should be done is that trading should be halted for this period of time. I don’t know how long that would take (a few hours, days, weeks?) but this would freeze the price where it’s at right now for Luna and prevent anyone else from trying to get a cash grab. Once it goes live again, the price should restored above a dollar. Yes, the people that bought extremely low will cash out but with the bailout money in there the liquidity should be there for people to take their money and go without affecting the price too much. Any new investors will be buying low but still having to put in serious cash if it’s above a dollar. Luna can then grow from there and should organically restore the peg as well.
There are so many people invested in Luna that couldn’t get out or chose to go down with the ship. I think if we look at this as a massive, massive dip instead of as a now useless coin we can make this work again. If we restore Luna and UST, then it would prove how stable this truly is. Yes it dipped and almost died, but it came back. That’s the best path forward. Don’t bail on the project, make it work again and show that Luna, UST, and crypto are here to stay.