What? Fair with those who bought before May 13th and unfair with those who bought after? Brilliant.
Nonsense. Every Luna token is worth the same, period. You can’t just arbitrary make up stuff. If you do this, the Terra chain will split and the original Terra Luna fork will be in danger of losing out against the new chain.
I see many people refer to what Ethereum did. Ethereum never punished anyone that bought after the DAO hack. They never made a snapshot, never did a rollback, never did stupid schemes that punished people that bought Ether after the DAO hack.
some common sense in the sea of madness
Yep, also, Luna is now tradable again now on Binance so, everyone has the opportunity to back it again. It just need to be decoupled from UST, and it will fly. Everyone happy. Could also give long hodlers of UST and Luna reward tokens in Luna or a new coin to make up some losses as Luna climbs decoupled.
in degen words, if you have UST on a CEX, move it to the terra wallet, right?
In my opinion, too much weight is given to UST holders that have held on. Doing a simple calculation (please correct me if I’m wrong), this would mean:
Staked circulating supply May 9th:
0.4*800 million = 320 million
UST in circulation end of V1 ~10 billion
30 UST would be even to 1 LUNA V1
UST price = 0.10 USD
3 USD would be even to 1 LUNA V1
I found below proposal very interesting to use the LUNA/UST conversion ratio at the time of the snapshot for the allocation.
Maybe the two proposals can be combined so relatively more weight is given to the LUNA holders before the death spiral.
This would mean:
- Convert LUNA V1 to UST with the proposed ratio in above proposal
- Add this to everyones UST balance at the end of LUNA V1/ start of LUNA V2
Divide the 80% that is now allocated to these holders in accordance with this ratio to mint LUNA V2.
When you print more LUNA out of thin air, you’re stealing from initial owners and giving it to opportunists. Is that brilliant?
If the goal is to rebuild an ecosystem, you want people that committed to locking tokens. If someone is trading in and out on exchanges, they aren’t really contributing to the ecosystem.
That’s why Cosmos ecosystem airdrops always go to stakers.
In my opinion, everything that happened post crash is crazytown, and allocating resources to folks that jumped under the falling knife is just going to create a bunch of sellers trying to make themselves whole after making a very risky trade.
So… What happens to people who purchased post attack…I have held Luna before and have supported it for awhile. I continue to support it and thought I was buying a dip… seems kind of harsh to punish those who purchased post attack
This doesn’t make everyone happy at all. I’d much rather have a brand new chain, carrying over the old code and UX, minus the algo stable. The only folks that this works for are the ones buying billions of Luna for pennies right now. You’d have a blockchain full of traders trying to flip a shitcoin.
The comparison to the dao hack I don’t think holds up. Ethereum lost a lot of money, but 1 eth was still 1 eth afterwards. They didn’t get diluted 1000000x.
40% to UST holders at the time of the new network launch
UST holders are critical components of the old network
Makes no sense!!!
Those buying now at 0.10$ get the new Luna and those that bought at $1 and sold at loss get nothing!!!
Absolutely non sense!
You will lose all the critical component of the old network and get the speculator that will sell right away!
Resetting Luna will give zero confidence, code a way burn coin on each trade, to up the value, and decouple UST.
Why would you sell at a loss though? Is it because you didn’t believe in the network?
I believe we should give a bigger share for people who holds until the end. That would be the only way to make the chain up and running again. They are the builders and believers that made Luna pump.
It is what it is. We are in the exact same boat right now, deal with it. My $0.00002 LUNA is the same as your $100 LUNA, sorry.
Luna being an utility token to peg UST, objective is first to secure UST pegging, not to save the value of Luna… As some said earlier, UST holders shouldn’t be treated the same as Luna holders; the former did invest in a stablecoin which is not stable anymore, while the latter speculated on a utility token.
I think it would be fair more at least pay back who bought and held the tokens!
Lunas supply is not 6Trillion! To even reach one dollar it needs 6triliion dollar market cap, even people buying at 1$ will never see their money!
it’s about 7 trillions.
or they could just burn tokens…
May not be a hodler but he was sure in it and lost same if not way more than any other hodler out there, current price, ask him how much his bag is worth and whilst attack kept going makes him a target as much as the hodlers prior to attack, at end of the day whether you went in prior to attack or during an attack everyone was a target