People are obviously angry and shocked at the events that have transpired the last week. Now the current situation is something like this:
- Hundreds of thousands of affected users are all emotional about things, proposing this and that idea with many not contributing anything at all but criticism and emotional outbursts
- Ultimately, what is not going to fly with Luna stakers/validators who are the ones who can vote is not going to get passed
- There are no regulations or laws in crypto that protect depositors so not only is something like refunding 98% of anchor wallets not required but also its almost certain never going to pass and will likely require a lengthy lawsuit
In a corporate business, a board of directors would meet and would quickly propose and execute whatever is most equitable/pragmatic however in a situation like this in crypto you got this tower of babel stuff where you have noise everywhere and perhaps genuinely good ideas are being drowned out in the sea of anger and emotions.
So I implore everybody to just be quiet if they do not have anything constructive to say, you are not helping and are just hindering the problem solving process. Let the big brains figure it out. There might not be a solution to please every single group of investors and users but the important thing here is to not be bogged down in this tower of babel stuff and before you know it weeks or months go by and the chain is [email protected] because everyone is still running around in different directions like decapitated chickens.
What is the most likely to happen is whatever Do Kwon says and from what it looks like at the moment it will be a fork. As a person that has lost 6 figures in this fiasco I am also not totally happy with the proposed fork too but it apparently has the validators on board. LFG will do a post mortem, apply the necessary fixes and relaunch.
Last but not least I want to say this. UST although has failed for the time being is an extremely revolutionary invention. You can compare it to basis cash or whatever project came before it, but it is in its own league that has gone leaps and bounds ahead of its predecessors. Though it is not perfect, it is extremely important to not abandon the concept! This kind of attack is not something that could happen just any day and required very specific conditions to pull off. Abandoning UST now is akin to being 3 feet from gold and giving up. UST is much bigger than you or I, it was very close to being perfected before it was attacked.