Correct the splits do not reinburse those who sold on the way down under pre crash snapshot


Do Kwon, if you are reading this, I fully understand why forking is the only way out of the mess, and burning is not even feasibly possible to make whole pre-crash holders. There just is no money to buy and burn and there isn’t any money to refund UST holders outright (not to say that either should really be done anyway)

However your splits are not fair at all, and that is why many people who may philosophically support your plan cannot agree with it practically. We can fork the chain, but we can’t divide it with such a blunt and unscientific and ultimately, unfair split.

The pre-crash snapshot CANNOT include anyone who sold their Luna on the way down till the chain halt. It should only be given to those who had it staked and held on all the way till it reached almost zero. Otherwise, their allotted value should be pro-rated to their selling price. This is very simple mathematics and I’m sure we can do this. This should probably account for only 30% of the token allotment.

We should also have at least 2 snapshots for the post crash allotment. One for the first chain halt, and one for the final 27th May launch. This will probably be still 10% of the total allotment given the MCap of the token at that point of time.

Pre-crash aUST holders SHOULD NOT BE allotted differently from anyone else. Instead we should have one snapshot between post crash and pre-halt which is after the selling of the UST had been done, maybe on the 10th or 11th of May, after those who sold out are gone already. This should take into account EVERYONE who holds all forms of UST, including those in LPs and not just in anchor.

You are leaving out too many people who had value in the system. People who want to agree with the fork are still being left of receiving value they should be entitled to if others are having anything.

As a disclosure, I had Luna and UST in LPs pre-crash, and I didn’t sell a cent all the way to the bottom. The LPs swapped all my UST to worthless luna on the way down. Hence I’m the proud owner of a pile of Luna that has multiplied with massive impermanent loss, but still not worth anything in compared to the 6.5T minted

Yes I agree with you many people sold and encourage more people to do shorts in futures for more gain.

And now after all this they are getting compensated.

While many of us bought during 8 to 13th May getting rekt.

We bought when price was high and supply was low.
We bought from the people who is getting compensated now, bought from them and held it and now they are kicking us out and putting us with people who bought during trillions of supply.

How that’s fair?

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  • They talk about a sharing as if everyone who is high is holding it. Who will distribute the percentage of those who sell (the ones who do not deserve)?
  • How will he determine them?
  • It’s all fake guys. Whoever has 6T luna should be found and burned, I’m sure it’s in his own hands. They don’t make a sound in their stock markets and they are partners in this business.
  • They claim that they have spent billions, where is the money received with this money? You can’t lose that big of money, you can’t launder it…

It’s a big lie they spend money trying to save UST or LUNA.

Those who sold off on the down should not be incented to get tokens at all. If you incent those who sold off then your incenting those who attacked it.

Those who bought on the way down tried to save it

Yeah the people screwed the most don’t include current buyers now because they can buy by the boatloads, but the transitory period were they were hyperinflating Luna seriously mostly late 5/12 and 5/13 when it started going from a billion to 100s of billions. They will be lumped into the 6.5 Trillion marketcap instead of their respective market caps when they purchased. This will make their stake in the Luna ~ 0. This MUST BE fixed.