Call online: building the future, facing the present

Governance & Proposals
1

Summary
I propose a call online between a representative of each stakeholder category.
The meeting online should be broadcasted on Youtube or similar to avoid haters interaction, but give the opportunity to everybody to know what is going on and what is the perspective for the future.

Motivation
There are many questions in my mind that remain unanswered. I think they need to be answered to properly build the future. There is a lack of trust after Terra crash and we need to know what is the plan to go on Terra 2.0.

Proposal
There are many questions in my mind that remain unanswered. I think they need to be answered to properly build the future.

I propose a call online between a representative of each stakeholder category:

  • do kwon
  • builders (@stablechen on Twitter ? )
  • TFL / LFG representative
  • exchange (someone from Binance would be great)
  • retailers ( @FatMan )

The meeting online should be broadcasted on Youtube or similar to avoid haters interaction, but give the opportunity to everybody to know what is going on and what is the perspective for the future. A moderator / chairman can be added to the meeting if necessary.

Here some questions I would address to the people involved (of course during the meeting any other representative will be able to integrate with his opinion):

Do Kwon

  1. What is the value proposition of Terra 2.0? What will be the killer feature of the new chain? (personal: Terra > UST is a weak proposal)
  2. What is the future of Terra Classic? Will it be switched off in the future? If not, what will its value be for Terra / IBC ecosystem?
  3. Do you think there is a way to create a valid algorithmic stablecoin? Has UST been the last try forever?
  4. What is the plan for USTC? Will you try to re-peg it, eventually how? Will it become like a normal coin? Will it d_i_e (not allowed altogether) with Terra Classic in the future?
  5. What is the plan to partially repay LUNC and USTC holders pre depeg (e.g. @FatMan proposal)?
  6. (personal: this is just my idea, you can skip it if you like) Would you be open to create a solidarity fund to help holders affected by depeg? How easy can it be for you to ask other crypto exchanges to participate in the fundraising?

Builders

  1. Since LUNC price is really low is Terra Classic secure? Could someone take control of the majority of the nodes?
  2. What is the situation of minting LUNC and USTC?
  3. Do you think there is a way to create a valid algorithmic stablecoin?

TFL / LFG

  1. Did you do any on-chain analysis about what happened during depeg? What are your conclusions?
  2. Is there a plan to partially repay LUNC and USTC holders pre depeg? If yes, how much is the budget?

exchange

  1. The majority of the exchanges quickly adopted the new LUNA. What is the value you recognized in Terra 2.0 ecosystem?
  2. Terra was the second chain in the world for TVL - Total Value Locked, what was the effect of this crash on the crypto market?
  3. What do you think will be the future of the crypto market after this event?
  4. Would you be open to create a solidarity fund to help holders affected by depeg and sponsor it?

retailers

  1. Based on what you heard, what are your requests to the other stakeholders? Are they reasonable?
  2. The Terra crash brought a lack of trust on Terra ecosystem and the crypto market in general. What would be a great move to regain retailer confidence?
2 Likes
2

Agreed we need do kwon’s speech, we need fairness and communication.

3

Honestly a great idea, but I doubt this will happen because Do Kwon does not care about what you think or what you want. This is evident from his posting style on Agora - drop a proposal, refuse to elaborate, leave. No engagement in discussions under other proposals. Your opinion does not matter - it’s same to assume that right now, every move he makes is to pay back VC debts or put some more money into his own pocket. Cynical but true.

4 Likes
4

I would be happy to get your availability on this call, so far… we will see Do Kwon intentions later. I agree on the idea “No Do Kwon, no call”. There is no rush anyway, it can be done at the end of June or even later.
Regaining the trust of the community (not only builders) would be a smart move for him to pay back VC debts faster.

By my side write down these questions helped me to analyse better the situation anyway :slightly_smiling_face:

1 Like
6

This plan makes the most sense to repay UST holders:

7

When IBC is enabled is the most important.