Rebuilt trust is the most valuable thing Terra can do to push LUNA forward.’
No to this proposal since you change topic to LET THEM FOLK hell no!
Ladies and Gentleman
in my humble opinion those two statements are the upmost important aspects of whole TERRA disaster
Rebuilt trust is the most valuable thing Terra can do to push LUNA forward.
The world is watching, we should set an example to the worldwide financial system.
if Mr. Do does’t understand this and acts without listening to advice of very experienced posters here with knowledge in economics, finance and blockchain finance then,
we are heading into final stage of implosion of TERRA and shrapnels will reach whole crypto sphere
for years to come !
TERRA must be fixed no forks otherwise
it is now the text book example of problem - reaction - solution tactics of money mafia
authorities who staged this attach (the problem) now voicing their stand on it (reaction) will manage stable coins regulation (the solution)
its very simple, and it works for very long time unfortunately centuries
so Mr. Do needs to stand up to it and listen to those who share their experience and vast knowledge on "how to " in economics and defi
my 2 cents
I’m at loss of UST to some degree, managed to swap at loss for USDC before ground impact
As mentioned in other thread,
I think the major problem now is the LFG reserve, all those proposals rely on the LFG reserve since no exogenous capital want to bail out TERRA now. Do and LFG still has no response on the reserve problem, it has been 3 days after crisis happen, now even binance CZ is questioning about this, he think the reserve (especially BTC part) should be used to buy UST back, but it seems not happen.
And after the refund (if it really happens), LFG will has literally zero fund in pocket, they cannot start a new project. So how to get these kind of refund proposal being approved is another problem, I think highly unlikely the refund will happen
What about the shared addresses like the one in Binance? It will be hard for them to reconstruct how much it belongs to any account share
the UST number can be matched, for example,
you sent 50k UST from your terra wallet to FTX or Binance(both exchange use shared address for TERRA chain), so you have an on-chain prove that you sent 50k UST to one exchange, then you can provide the sell history of these 50k UST in your FTX/Binance account, the key point is the transfer amount and sell amount need to be matched
Now LUNA is like a dying person. Your priority is to promote more people to buy it and resurrect it first, instead of making a special decision to please those who have nothing. You can’t resurrect them, and they will never get the money. ! And the person who holds LUNA now and the person who is about to buy LUNA is your father, and you have to please them 100%
Lucassvdws you are right, in theory, in practical terms who is going to assess millions of transactions?
It is practically impossible that all of us check the transaction send it to someone to assess and refund.
BTW I am interested in LUNA and not UST
- LUNA is TERRA’s equity.
- LUNA holder is TERRA’s shareholder.
- UST is TERRA’s debt
- In law if TERRA go bankrupt, they need to clean the debt first and share the remaining (if any) to shareholders
Therefore I propose to destroy all UST and return to LUNA at 1B tokens.
This sounds good. Losing yield for a payback as close to initial deposit sounds fair and would also help build back trust for the ecosystem.
what about people that was holding UST on Binance before the De-peg, that one that never sold will be they eligible?
I like a lot of the idea but having a snapshot for UST is ridiculous. Why should someone who hedged their bets and sold at 50 cents get vastly more than someone with the same amount of UST who never sold?
They should use the current chain and the people who sold at 50cent should also buy back at 50 cent to be able to receive the funds
It’s hard to know exactly when they sold if it was done on a CEX. That would take a lot of coordination and effort.
People hedged their bets. At this point I wish I sold for 50 cents.
Perhaps if people sold at 50 cents they get half of someone who never sold… at most
Opportunity of the lifetime presenting itself here.
Yeah well at least we get to keep the original luna chain. With the right adjustments we can compete perhaps overthrow the new one.
That’s great. Please feel free to have a read.
It suitable to old luna or new luna.
If you want your money back you need to vote YES to these two
What about people that was staking on binance and never sold after the de peg? Will they be covered?