Do people get compensated when they lose money in stock/bond/real estate market?
People will laugh if you claim compensation for your
own decision.
Risk and reward.
You took the risk face the reality.
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Dont worry , nothing to compensate. All btc gone.
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No LFG still has btc
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Where?
Choose
Why give rewards to those who lost money here? I lost money, and believe me it doesn’t help me if they give me half, I prefer that they burn moons or buy and burn them.
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Any possiblity to peg ust to $0.1 or $0.01 instead of $1.
Will it self heal the situation and burn down extra luna quickly?
Of course, need to secure mechanisms to prevent problem repeat itself.
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Yes we should not compensate but to rebuild. This is the only way to bring back more people and help more people who has suffered.
I am one of them too. 150k of life savings just vanished within less than a week.
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UST holders did not invest in stocks or bonds, they do deserve compensation as they held a stablecoin.
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No. Whatever the assets are they are responsible for their own outcome. Just think why they chose to hold UST not any other.
As far as I know, there’s absolutely no proof that LFG still has BTC. According to a blockchain analysis company, the entirety of the BTC reserve was moved into 3 different exchanges. Beyond that, we don’t know anything.
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UST hodlers need to understand that only one guarantee were given when aping in: each UST can be redeemed into an equal $ value of Luna.
I think all UST should be liquidated into Luna. More on my thoughts here: /t/proposal-8-steps-to-save-luna-now-economic-refactoring-proposal-from-industry-professionals/7510/358?u=a870gq6y
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20% apy.
If you’re selling a regular car and it crashed and burnt while guaranteeing safety why in the world I want to buy another car from you? If you’re driving a race car (investments) then sure, it’s an acceptable risk.
But suckering people’s life saving to prop up the project is just plain wrong.
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Your description is not accurate, please read TERRA’s whitepaper,
a UST (or any other TERRA stablecoin such as KRT, EUT) can always be burnt
and receive 1SDR worth LUNA, for UST, 1 SDR equals to 1 US dollar.
So anytime you should be able to burn your UST to 1 US dollar worth LUNA!
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Does not matter what the whitepaper says you clicked the buy button with you own fingers dont cry
exactly. there is not a reason to compensate anyone. there just isn’t, and I say this even though I lost big on this project myself, so its not without sympathy that I say it.
look, all of us who invested in this project knew that we were investing into a bleeding edge concept, one to to create the holy grail of defi and make an uncollateralized stablecoin peg. well guess what, it’s a fail… and that juicy 20% stablecoin apy reward did not come without a proportional amount of risk as we have all unfortunately just learned.
no there is no compensation for anyone. for what reason? you decided to invest here, nobody owes you anything. that’s the game and we all know it, the market is a harsh mistress.
now, terra team can still make some decisions that could keep this project alive, maybe introducing multiple deflationary methods for luna and/or some new creative use cases, anything to just slowly and consistently burn off all the surplus luna. but it’ll take time of course, years. all those much smarter than I am have to come up with those solutions, above my paygrade.
now if there actually are any assets left, and those in control of them can be convinced to do so, then yes an immediate buyback and burn with those funds would of course help shorten that time and maybe breathe a little life back into the community, potentially even enough to keep it alive long enough to see terra eventually recover.
however, that failed concept that was ust, yea… that one gotta go back to the drawing board. obviously ust as it is cannot withstand the pressures that can be placed upon it without suffering a catastrophic destabilizing event.
no compensation to investors. if there is any money left, it should 100% be spent back into the project for buyback and burn. that my two cents… if I even have two cents left that is.
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How is that different from my post?
If you’re referring to the post-peg UST buyers, it’s my personal opinion that the protocol already was broken at this point.
Lol just F off, the most important thing in crypto world is trust, without trust, there will be no bitcoin, no ethereum empire
if a project can violate what their whitepaper said anytime, the crypto world will has zero trust and collapse, period.
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I lost my money on Luna to, But I buy Luna this piece and hope Luna will come back , Move on
+1
I only expect 2 things from the team:
- Do Kwon’s resignation, wrongdoings and profits investigated
- Remaining funds and effort put into rebuilding Luna
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