I propose don’t change the rules.
You have already dumped the price to almost the bottom. And now do you want to start delistings? Let the market and the predictability of the rules restore the price.
Investors need confidence that the blockchain will not be reset tomorrow. Look at bitcoin. It is absolutely predictable in his rules. This is why bitcoin is not a scam.
Scam is when the rules change regularly. This reduces trust and confidence that such blockchain will even exist in next year. No such confidence.
So I propose only the market to decide where to go next.
surely letting the coin keep losing 99% 2 days in a row on all major exchanges doesn’t help “investor confidence” either … that being said something needs to be done about withdrawals asap because lots of tokens stuck on exchanges (Binance) atm i presume
Agreed. The damage has been done and no protocol changes or extra VC can possibly restore public trust. Nobody has the money to issue refunds. Terra will never again have the user base it did a week ago, and trying to work new adoption into the equation is delusional.
But the algorithm isn’t actually broken as it is. Its only fault is that is does not have the bandwidth for everybody to exit at once. That’s the only reason everyone who needs to sell now is forced to take a loss. In theory, if the rules don’t change we could all form a line and file out in an orderly manner without losing the face value of our investment. If 1 person a day converted ust → luna they could sell if they wanted to for close to the nominal value of their ust - at least much closer than what it’s trading at now.
Pretty much everyone has already written off their terra tokens. The only thing that would truly guarantee the loss would be to shut the whole thing down. I hope that if some kind luna v2 is announced, the current system will at least be left alone.