We all knew that luna can be fixed before the luna halted at a block height of 7603700. So, lets take a plan
Everyone can’t be happy here and we can’t make everyone happy but everyone can reduce their lost. I did not think too much about the people in the category of 3 and 4. Please feel free to share your ideas.
- Peg UST to $1 with reserve of LFG
Take a snapshot of the luna holders before the announce “ The Terra blockchain was officially halted at a block height of 7603700.” by the Terra Twitter page. 12 May 2022 15:14 UTC.
Fork luna with the latest supply of Luna while the announcement is published. And distribute new tokens to who did not sell after the announcement.
Burn the extra supply.
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‘fairest idea for everyone’
are u kidding?
this was a good joke for sure
What is the thing you are not agree with and please feel free to share your ideas.
Its not fair at all. You are in simple terms asking to loot new investors and compensate old ones. Its decentralised coin. You cant go back to a date and take snap shot and redistribute. Accept the new reality and see how to recover from here. There is no difference at what price you purchased or when. The only way to recover is burn on every transaction. Thats it.
I think I am misunderstood but I dont exclude new luna buyers, they will also receive new luna tokens after the fork but need brainstorms. Some algorithms are needed for this according to their buy avarage since people can buy millions of luna with cheaper and we can’t save luna like this while people has millions of people but people could not buy millions of luna before the first announcement of chain halting.
Whats wrong with your proposal?
1, LFG has ~1.2B leftover → cannot repeg 1UST to 1 USD if the market not bullish on UST.
2, It is unfair af against everyone who bought up the hyperinflation luna. They are heros and should be treated as such, because Terra’s LUNA was minting supply to sell it-> bring in cashflow → to help the peg. Those who buy in chaos and heavy risk, should been rewarded not punished.
- You basicly want to roll back the timelines to save yourself claiming it’s fairest idea for everyone
I am sorry, it is such a joke =)
(if the snapshot before attack would take all of us back → rekt outt those who made the 1:1 peg closer (hyperinflation buyers) you can believe that everyone after the snapshot reset will rush to the gates to sell their assets.
So no, as binance CZ said: you can’t snapshot back yourself and thinking it will be on the same value XD
It will be chaos and huge crash… if that happens. Ending up with rekting everyone plus those who bought hyperinflated luna too LOL
Firstly I don’t have any UST and never bought any but UST is needed to get priority while it is a stablecoin.
Secondly, i also think that people who buy luna while the crisis was in, are heros… I also bought…
So, it is why I wrote “Actions are needed”. They will also get the new luna but they can’t have millions of luna but some algorithm can be created by working with exchanges.
Thanks your answers and ideas
(+ with my latest reply) I don’t mean same value will come in after the fork. This is why I wrote “everyoen can’t be happy”. You can’t burn the amounts owned by people, also cz knows this? Now, please don’t get me wrong but brainstorm and rethink of my idea.
Ust can be pegged by help of some exchanges and reserve of LFG (btc, avax).
I also bought while luna was hard dumping and increase supply to trillions. So, I could say burnn all the supply and I will be rich hahaha…
I will rethink again for the people who is in 3,4 categories and edit the idea.