At the moment the UST price is about 0,06$, that means that 1 dollar buys you 16,66 UST, 100 millions dollars would buy 1,666 billion UST… dear “stablekwon” it’s never been easier to restore peg.
UST is still traded in exchanges, as is Luna.
There are about 11,5 billion UST in circulation, and Luna has a market cap of about 1 billion.
According to this twitter post of Pedro Ojeda (https://twitter.com/pedroexplore1/status/1524217002658783232 ) there were 1,3 billion UST in swap fees held in a wallet of the Oracle pool. In fact another twitter user. Replies to him that some time later there where 3 billion UST in fees. at the moment, for some reason, the wallet cannot be seen in finder.Terra.money.
According to 1182 proposal, and as per Do Kwon words (your words) there are 1,017,233,195 UST in the community pool that could be burned to reduce UST supply (or maybe back the peg?).
As per LFG disclaimer (your disclaimer) they have another 1,9 billion UST in their reserves.
- Gather all reserves possible to buy UST from exchanges, and halt its trading everywhere but Terra chain. 200 millions (still feasible) would buy up to 2,5-3 billion counting on price impact given the amount bought.
- The wallets commented above add up at least another 4,2 billion.
- These amounts mean that 6,7 to 7,2 billion could be burnt, reducing the supply to 4-4,5 billion UST.
*apply proposal 1164 to avoid front running.
- After applying these measures the mint/burn mechanism could be restarted, but with a twist. Governance should apply a max. amount of UST any wallet can mint for Luna (to a value of 1$) in an hour. This max could be 10k per wallet per hour or something like that, and that way the small investors would have priority, instead of letting whales swap billions at the same time, bailing out your friends, crushing spreads and throwing us into a death spiral…again.
- This would cause the supply of Luna to grow by the millions again, but in a more controlled way, and you could in fact burn all the possible Luna while retail are selling to keep it at a price that it is still listed in exchanges.
*In short, use the mechanisms still at our disposal to print a solution out of thin air, it may be possible.
*After we dumbasses still holding have been able to quit in an orderly manner, do your fork, and airdrop the new token to Luna holders at depeg.
Just do something good for retail, for once.