Frankly I do not know anything about blockchain. I’m just an investor in Luna. Since the collapse of Luna and UST we have been calling for burnt n no forking. For some reasons the team did not respond to this idea and trillions of Luna is already bought up by a lot of people. The fact that Luna is still surviving is due to all these new investors supporting during it’s dramatic falls from grace! For whatever reason , whether to earn money or due to trust we just cannot forget these investors too. Many people and YouTubers have commented that Luna is done and not to invest. The fact that it is still surviving is due to a strong community! I have a suggestion to offer that might satisfy all parties…. How about creating new utilities for the V1 Luna if u do need to fork to V2 to support UST? Let the V1 run naturally with burnt mechanism implemented in the contract so that V1’s supply can lower over time. For whatever reason u need a V2, this should be separated from V1 with a supply of 1billion. I do hope the Terraluna team will rescue V1 Luna because this will have a catastrophic collapse of the Luna ecosystem and create new problems for new investors! I do hope this post reaches the Luna team. Thank you
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I think this will happen ultimately if any of the validators remain on V1, like ETC and ETH. So surely, V1 Luna can live as a meme and V2 can be whatever they want (unlikely to succeed as it is). However not too sure how many validators would keep V1, because they need to make money too and I’m not sure how lucrative running nodes for meme coins are.
As a comparison, there are tons of validators on the Chihuahua network (of Cosmos) so surely V1 can go on. How V1 / V2 Luna are priced will depend completely on the market, though. So, if most of the developers go to V2, V1 Luna will be just a meme coin floating around its current price range. 