Hi @dokwon hope you are doing well my man, times are tough but you will be even tougher after this!
Market is moving right now with thousands of LUNA transactions every minute.
Instead of introducing the fork which will kill the network and loose all of its potential try something else to make it live to it’s potential.
I am not the smartest dude but hear me out.
Each transaction can have a certain burn rate and a certain % will go to a LP for UST and LUNA holders before UST lost its peg.
Burn will increase the number of new investors and price of LUNA will start moving upward which will make even more interest in the market for LUNA. A lot of us here are for the decentralized future but don’t forget that 90% of the market is here only for profits and profits only.
The more transactions the more funds go into LP for losses before the peg was lost and the network will recover itself slowly.
By introducing the fork with 1B tokens and paying to holders prior to loosing peg and redistributing 40/40/10/10, most of them will just withdraw the funds and the network is going down.
As much as we count on tech here we need to include human emotional factor, those who lost will never trust again and new investors won’t trust to invest in anything with the same name and even if it has better value.
Introducing the burn rate and LP for lost funds from each transaction will give confidence to old investors to stay and new will be attracted by decreasing supply and increased price.
Why not riding the wave of the current situation to help all those who lost their funds and growing network even stronger.
From the snapshot of pre peg loss you can see exactly the accounts that can be included in a new LP so they can generate funds back and plus on top of that you can include higher yield for all pre peg loss accounts to make up for their losses.
I am all in to make up for people who lost their funds through the special LP that receive % of each new transaction and higher yield for all of them in that LP.
By restarting the network with 1B tokens and redistributing them between new and old pre and post peg loss holders will create mess and most of the people will be gone in no time.
Take it this way, if we all hold our money in the bank and that bank went bankrupt, owner of the bank comes and says hey I’ll cover for your losses, hold.your savings with us again, do you think when people take funds back will ever put their money in the same bank?
Mr. Changpeng Zhao also proposed a very good idea but I think that network can repay losses by itself.
It is possible to save TERRA as it is and you have the power to do it.