LUNA Go Forward Proposal

exactly I moved my UST off today after lack of updates and fear of losing everything. Its sits on CEX and not been sold yet. Happy to transfer it back exact amount that I withdrew.

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Its not, its this twitter.

https://twitter.com/TerraBuildersU?s=20&t=2C2fyIm_EHswUf6gOmk06w

I like the core of this proposal. Main thought:

Many people have “staked LUNA” through a derivative. Would these users be included in the “40% to Luna stakers” bucket when the “new LUNA” is minted? Every LUNA staking derivative has a similar 21 day burn mechanism, so I feel it is only logical that the derivative holders should be included in this.

I’ll make a list below of the LUNA Staking Derivatives that I feel should be included in the “40% to Luna stakers” bucket, and update based on community feedback. Hopefully this can then be used by the initial proposers.

LUNA Staking Derivates to Include in “40% to Luna Stakers” Bucket:

  • bLUNA
  • stLUNA
  • c/y/p LUNA (Prism)
  • xLUNA (Stader)
  • nLUNA (I didn’t use Nexus much, but I assume nLUNA has a similar mechanism to the others listed? Please discuss/correct.)

Please reply with any additional staking derivatives I missed that should qualify and I will update the list.

– OHaraBiz (LunaBulls)

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nLuna uses bLuna would have to make sure there is no overlap

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Arbing was promoted as part of the ecosystem. I arbed Luna into Lunax and then unbonded it waiting for it to release on 25th May via stader and then the attack happened.

It’s not right that unbonders, arbers, etc lose out. If someone is getting something, everyone should get it as we were all part of the ecosystem and made it thrive.

This proposal benefits only those who did nothing after the attack.

However do you really expect every human being to sit there and do nothing whilst their life savings are diminishing away.

It needs to be thought out more to cater for all.

Ideally you would want to snapshot the network as was before the attack.

I understand this means the attackers who were parked in ANC may also beneift but surely theres a way to identify the big wallets that did this and exclude them?

Oh and then I bought Luna on binance to DCA and lost 20k as price kept plummeting but because of belieivng in Terra I held strong for 3 days till I realised it’s all being diluted to nothing and sold for 1k = 19k loss.

A lot of people have been hard done by for believing in the network and nobody should be excluded.

It’s safe to say anybody buying Luna 1-3 days after the attack on CEX was not the attacker so snapshots should be taken of exchange wallets on day 1 2 & 3 also.

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For anyone reading, don’t go sell your alts for UST just yet. Ask the teams if they’ll do a snapshot as well.

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Good point, many of us have lots of Terra chain alts! Also variations of Ust such as aUST should count right?

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ı bought Luna at 7$ on Binance to support its bounce and for sure to earn money and lost it all and had to sell at 0,006$ for tens of $s. So am I getting left behind here and have nothing then?

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Are you considering wallets buying during the attack on other chains too? Like on Ethereum for example?

Like people who swapped ETH for LUNA or UST

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UST must recover to restore faith in the system.
Everything else is just a matter of greediness.

BTC and other reserves where supposed to help LUNA not tanking too much, Do Kwon himself said this, he presented Luna as being backed by $10B in BTC, in a pinned tweet which he deleted as of a few minutes ago.
The reserves have been pulled form the wallets and nothing has been posted regarding their future (or past) deployment, only promises.

I find it crazy that nobody is talking about this.

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UST HOLDERS AT THE TIME OF THE ATTACK. How can this be excluded??

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Also Luna bLuna in astraport liquidity pool.

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The BTC have been gone, they were loaned to MMs to support the peg. The silence around what the current status is is deafening and is likely bc if UST has no value there is no way for the MMs to pay LFG back in BTC as they used it (assumably) to prop the peg. If not then there may be some left.

I will believe it when the projects you mentioned link to this thread.

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I agree with a fork, but we need to see how the mechanics would be different from now too. My main question is is would LFG be bringing the remaining BTC they hold? I’m sure whatever split of airdrops and compensation we chose is going to make some unhappy, there is no win win scenario on that part. I do think this proposal needs more details, maybe even work with a content creator to make a video on the how the fork would work.

I would like to add, maybe locking the new distributed tokens for a year a linear release. That way it gives the for time to build and show value

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Maybe it would be good to take the worth of a wallet in consideration + the participation on lockdrops…before the attack happened.

For example Astro Wars and nexprism were live .

  • delegation (Stader included) + + +

That would be the fairest.way?

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I’d think it would be fair all Luna or the derivative variances should be included, including staked and in the process of unbonding.

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Currently, LUNA is pretty much valued at close to 0 by the market. But the value of UST seemed to be finding some valuation support around the 0.3 to 0.4 band. Instead of restarting the token distribution, why not just use UST as the new Luna. So 1 UST = 1 LUNA 2.0. Afterwards, we can make LUNA holders whole by minting new UST/LUNA 2.0 to all LUNA holders at the point of attack. On May 9th, LUNA was trading about 60, so we can airdrop 60 UST/LUNA 2.0 for each LUNA owned during the point of attack.

This would ensure that the distribution of tokens would be fairly distributed based on the pre-attack demographics, rather than an arbitrary 40% to UST holders and 40% to LUNA stakers.

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I disagree with this. I have funds in limbo on Thor which even if there WAS an airdrop would no go to me. I feel the goal needs to get UST to 1 and not try to make a new chain and say fuck everyone else.

LUNA investors came in knowing risk. UST holders did not and Terra is a stable coin chain, not just a L1 shitcoin. This is shooting all the true supporters in the foot.

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Not happy with that. Ignore luna holders from CEX ok, but people with liquid luna on native wallets, that were also fightin the luna derivatives depeg, not being staked doesnt mean we didnt contributed. we are also fighters. I agree with the reactivation incentives to loyal people but dont forget that what made us great was the community and not everyone was staked, probably luna users rating could be more more efficient than only locate them to stakers.

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