I'M AN EX-"WHALE". I Have 4 Kids, I Lost It All, And These Are My Thoughts

You completely lost me when you posted the above point. Let me ask you one thing - according to you only those should get back who held UST prior to snapshot? This makes zero sense. According to your own admission you sold some of your UST at 0.50 and recovered some of your losses but you still expect to get paid $1 or some form of compensation even if you sold and reduced your risk by exiting the system to the value of those UST. AT the same time the guy who bought your UST for 0.50 and took on your risk, should get nothing? Can i ask you in which world the guy who sold and reduced its risk should get the compensation but the guy who took on your risk should get no compensation, how does this seems fair to you?

The bottom line is those who exited the system should not get any compensation, specially the UST holders. Compensation should only be given to existing holders. Before you speak about buying cheap UST, the market is still open so all those so called believers can still buy it back and hold those UST so the opportunity still exists.

In terms of Luna holders, its more complicated as they got diluted even if they didn’t sold their tokens so the solution is bit more complicated. I don’t really know what could be a good solution for them.

There was no end in sight that night…every time we thought we were at a bottom…boom…on come another 10000 LUNA and they were 50% undercutting every time! The algorithm was broken and that’s why LUNA deserves compensation too. When I buy oil stocks its because they know how to find the oil, get it out of the ground, refine and sell it on market. As an investor that was what I would buy into. Now if said oil company had watered down the oil before it got to the refinery…the refinery would sue the latter because their product was not as represented. The algorithm was flawed and left the buyers of LUNA with nothing! I’d say that this could easily turn into a court battle and saddlebag this company for good!

It can’t be worse than this :stuck_out_tongue:

Do you guys just think UST is important? So why sacrifice Luna to save UST? We are also investors, we have accepted the mint Luna algorithm to anchor the price for ust, that proves we completely believe in the project, not to pump money for you guys to earn apy. That stake is Do Kwon’s mistake, he needs to pay the price for this lesson

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reading through all the comments these days, i concluded that even if the recovery plan goes through … there will be a run to exit after. thereafter, we will need a recovery plan part II.

I am another person that lost a lot of money in UST, but barely held any LUNA. My main way of interacting was through Binance locked staking, and then a bit on Anchor on-chain.

I think instead of going with the snapshot approach which will always be unfair to certain people (me included), UST should either be redeemed on the current chain, or with a 1:1 swap to the new chain. UST was much bigger than the terra chain with lots of stuff going on on exchanges or other chains through cross-chain mechanisms.
If TFL / this community can agree on trying to re-establish a UST (or UST2) peg of $1, and give people affirmation that they’ll be able to redeem it for the original price later on (maybe put some conditions on it like a time-lock, vest, etc), this in itself will give the current UST more value and should raise the price a bit.

Yes there are people that will take advantage of it and buy lots of ‘cheap UST’, but that in itself will raise the price closer to $1, which is what we want here, right? So good for them.

I am against having a new chain and think the current one should be saved by using LFG funds to burn as much LUNA as possible but TFL is very silent currently so who knows what’s gonna happen.
Just, if a new chain came to exist, my opinion is that a snapshot will never be fair enough and some new mechanism is needed.

Have you considered that the lesson to learn is get out of crypto and earn money from a productive job? Most crypto is a negative sum game—negative because you need to pay opereting costs.

The only exception is stablecoins that earn through holding a pool of real world assets; but we have money funds that do this more efficiently.

Anything promising high returns with little risk is a scam.

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We need to save both Luna and UST holders! You need Luna to defend the UST peg and you need UST demand to generate more demand for Luna and UST.
Without Luna, there is no UST and without UST, there would be no Luna. Or else, how did the market cap reach more than $50 billion?

Stop suggesting a 100% reimbursement for lost UST and Luna . It’s just not feasible. What’s more feasible is burning Luna and UST without any new mints.
And come up with a plan to at least compensate the UST holders with at least $0.50-$0.6 for each UST held instead based on a snapshot before the attack which also takes into account those who transferred out to CEXs and still holding ALL 100% or Some portion of their USTs. This should not cover new UST holders which bought for dirt cheap prices… Only cover those which hold the old UST which were originally $1.

As for Luna, they should be compensated for those that supported the Luna price and UST peg until the price reached $1. Beyond that is a little hard to help because buyers below $1 are mostly gamblers to earn a 300x.
is it even possible to analyse on and offchain including Exchanges to exclude those who earned a huge chunk of profit? We should exclude them! Because they already have +% profits!

ALL REIMBURSEMENTS SHOULD EXCLUDE THE PEOPLE WHO MADE HUGE +% PROFITS!!! IT ISN’T FAIR FOR UST AND LUNA HOLDERS WHO STILL SUPPORTED THE ECOSYSTEM WHILE MAKING LOSSES!

i agree with you. When we buy Luna , we know it can up or down in the market. But UST is difference , it is a stable coin every body know it have peg 1:1 with USD , we buy it for LUNA have money to growup . I think we only way that is get peg UST again and burn LUNA . Maybe not now , we have plan for this . Remember we buy UST because faith and reputation not for profit. Thanks

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As someone who got his 700k out with what I now consider an insignificant loss of 5% I will gladly relinquish whatever compensation I would be getting to others.

Snapshot from the day. History of transaction of this tokens you have on chain. Even if somebody moved from wallet or Anchor few days after attack to Binance or another exchanges and didn’t touch it you can easy check it. Just move back to wallet or do airdrop. Terra was down and fear was everywhere.

I agree that Luna is speculative asset and UST hodlers should be paid to the end. They staked their savings of life to avoid inflation and support project. Most of small and average wallets.

Than you can make “new luna” or restore Luna with new capital - when trust after UST recover will back.

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I have added my post due to wlawyer’s porposal

After all this who is going to trust the Terra 2 token? Pardon me but the team is stupid as fu$k.

I’m really sorry for you ,but if you are living with crypto since 2017 you know that you can’t really trust anybody,it doesn’t exist a storm-proof-house-of-cards and the only way to save you is to invest in differed unrelated houses hoping they don’t fall at the same time in a domino effect…

lets be honest: we like luna-terra etc, we like the spirit, the vision, the support etc, but ultimately we are all here for money…
For you to became a whale,others have suffered losts, after your lost other are now gaining, the only money you gained that aren’t lost from some other investor are the inexisting ones that every bubble has, the inflated numbers that vanish when a project face the reality of something that wasn’t supposed to happen.
This is the only real ecosystem in cryptoworld.
Fairness,compensations, good sentiments, charity, this is not how the market works, and nobody of us cared for this thing while we were gaining at the expense of other, so now we shouldn’t expecting the system to change just because we were screwed in a bigger ,“more spectacular” and titanic way

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You echoed my thoughts exactly. Well said.
Ditto like you I held on … its a trust thing… eventually had to take my last few $$ out of Anchor today to pay some bills !! … UST 4000 to pay a $400 bill. Didn’t even get that as the peg was at 0.09 … that’s it all gone now…Think I got about $2000 out in the end from the $24000 I had on UST and LUNA. I had 17 LUNA staked but not even bothered checking on that… I am usually quite risk averse hence why I was keeping it in mainly UST - just waiting for the bull market to move on a bit ! But Luna and UST are quite symbiotic hence if there was any $$ to put around it should go to LUNA and UST is some proptional way … there’s nothing fair about any of this !!
Trying to move on, but it feels, emotionally at least, like I’ve been mugged - to some extent , by myself.
BTW I don’t really blame anybody - nobody made me put the money in , or keep it there… what’s pretty sad is the almost arrogant/told-you-so/glee from some side-line watchers. Pretty sad when they must realise the knock on effect of an $80billion (or whatever the market capitalisation of LUNA and UST was) bankruptcy (essentially) has on the overall crypto market and smaller individuals lives.
Not playing this market anymore… just start DCA’ing into BTC again I guess…

hey man, sorry to hear. please get in touch with me I have a proposal for you

I also lost 50k ust, it’s my savings after 10 years, i’m very sad, hope they will refund

“This is unacceptable. The speculators should be responsible for the risky game they played” hahahaha. Says the guy crying in the internet whining to be saved, for putting his entire networth into a single internet free money machine. Please, lecture more

This should include only UST that was held before the depegging and not bought through the depegging. Also if you sold at a loss due to trying to recoup the savings you had in UST. It is clear that it was the right decision since UST has now been dlisted