LUNA Go Forward Proposal

I mean, by that logic, no-one has the right to complaint. You don’t know anyone’s Holding or anything, but labelling them as selfish and greedy isn’t done. Everyone has different motivations for buying or selling. Don’t tell me that other people who bought pre-attack were not selfish and greedy?

When you invest in a crypto coin, you know the risk you are undertaking and by that logic, no LUNA hodlers should complaint regarding that.

Now, UST is a stablecoin and it was marketed as such. So, they can complain, and all the legal actions taken will be by them and not LUNA hodlers. That’s the difference.

1 Like

I’m reading the proposal and all I can see is cheap manipulation and greediness to abuse the situation!

There are many users, starting from big $B investors all day to individuals that hold one token, They have all been there for you! and they all lost and bleed EQUALLY the same %. Some of them bought more when the price went down, to recover their losses, others bought the deep as they were supposed to, believing in Terra that it may be bounced back, and maybe even a few probably contribute their funds from pure Ideology to support other people’s losses. At the end, they have ALL been there FOR Terra! each on his one way, and all one big community keep fighting to go on, and bleeding as they do so. so now there is no room to leave ANYONE behind, regardless what are the reasons or timing they bought their tokens. first because it’s not the right thing to do to other people in general and certainly not to Terra’s community that right now needs more than everything to regain trust in the project decisions. , and second, it will anyway not going to hold in court against class action law sue, due to obvious discrimination.

Everyone is EQUAL. it doesn’t matter if they hold Luna or UST, on-chain or off-chain, on terra networks or other networks, on their wallet or on their CEX wallet, if it’s staking or liquid. they are ALL EQUAL!!!

And if the decision will be to re-launch LUNA, or re-lunch UST, it’s fine. and if the decision will be to set a $10, or $1, $0.1, or whatever as a baseline price for Luna v2, it’s also fine. AS LONG that this baseline price and the ability to convert v1 to v2 will be open in a fair way for EVERYONE!

and if the decision will include special rules, like a staking period when converting v1 to v2, to prevent from dumpers hurting the v2 price, it’s fine as well, as long as long that those rules will apply to EVERYONE including the team and funders equally., NO ONE will get better terms over others. we are ALL on the same boat, now it’s up to us if you want that boat to survive or die due to the wrong decisions

8 Likes

A simple solution is to fix the UST/Luna conversion rate as of the last on chain transaction, making UST effectively same as Luna.

1 Like

Fair conversion to LUNA V2. Dont leave anyone behind. Why snapshot before attack?? Incentivize the dumpers and shorters?? Dont look at the amount of tokens someone has but look at the invested money. Lets say you bought for $1000 LUNA V1 then redistribute the same worth in V2.

3 Likes

I don’t have a confirmation. But frankly as a techie - don’t think its undoable if they have good working relationships with exchanges (Which I am sure they have). The can provide transaction logs for Luna. or probably has some way to use onchain data to refer to transaction size, price buy or sell. for all HOLDers - this should be done. people who ran with making profits obviously - can’t do much about it.

2 Likes

EVERY CURRENT HOLDER NEEDS TO BE TREATED EQUALLY. Then the project will regain trust.

10 Likes

no way this project have another chance on the market is they begin to treat investors differently

1 Like

Yes, but peg the UST correctly 1:1
They sold billions worth of LUNA tokens, why they didn’t peg the UST 1:1?
Should been done already
Priority , as the whole world watching what happens with TerraUSD

The baddest decision will be if they leave holders behind. Then the new token is doomed.

1 Like

I also bought at $33 and now I lost about 2.5BTC

the real problem of most projects is the poor math under the algorithm.
Before proposing a tier or whatever solution, we must need to test in critical scenarios.
You cant print to oblivion and after realising it is a bad idea.

My real proposal is to correlate with exp^-(Velocitymoney). means in this case big attacks like that will slow down.

Recovery of the money is nearly impossible. The way could be to create a fork with an exp^(Timelocked), which means people how to lock up for a long time will receive the new coin in a more balance way

Sorry If I don’t understand this correctly, are you saying that since I had 50 Luna before the event, but know I hold 1m luna that i should still be equal?

So there needs to be an upper limit

Also I saw someone mentioned ,

『You can easily scoop investor’s buying/selling activites from various exchanges to know at what price they bought LUNA & related coins/UST - & just only refund that amount (irrespective if they can profit or were in loss). This is not only fair, but will 100% reinstall the trust in TERRA as an organization coz no one will lose in this model - not even TFL, anyone.』

holders who bought after the attack
Just refund the amount he spent?

This also sounds ok, or let the holder
Provide transaction hash yourself? But don’t know if it’s feasible

  1. You can consider finding investors with this epic popularity and new solutions. As long as the solution and technology are okay, you can use this epic marketing and visibility to raise money. Chinese capital prefers this

Why there is no annoucement or reply from the project leaders?
Even they are not saying if they are working on any plan or not. :frowning:

Such a large project, an an ecosystem, which is been created from the begining to such a perfection, why is so poor in communications.

from my view as both Luna and UST holder, i look at it as following:
Luna was an investment. Just like when you buy Shares. Netflix alone been down 75%. I should accept the risk when it comes to investment. I had my profit, i had the chace to take profit, but i have decided to keep it for long term. the vision was not speculation for day trading.

However, on the other hand, UST is a stable coin. Is like your bank reserve. Its your safe enviroment where you keep your cash and getting ready to enter another investment, or use it as a mean for payment.

I could accept an investment go to zero. But cant belive my reserve loose its value to zero.

As the main piority, they need to re-peg the UST to start building trust. Because you use that UST as the core of terra eco-system.

But again, Even if the leaders of this project are working on something, they should at least be more open, specially in these times. There might be some discussions with other protocols, or internally trying to fix the issue. But for god sake say something. Even if you say we are working on it, with not much detail, that is helpful.

2 Likes

imho you werent trying to save anything - you wanted to jump on luna train cheaply which you missed year ago hopping to make nice fast profit. Like, probably, 10% of all ATM Luna holders and, probably, half of writers and complainers here. I was in Luna from middle of last year, entered around ~ € 25, invested in total per this time around € 20 000 till UST depeg. And now have some UST in pylons, some ANC in governance and 12k UST on Binance which couple hours ago delisted UST - in the morning I could still could sell for $ 0.2, yesterday could get around $ 0.4, but had wrong hope UST will peg again to dollar. Pity.

1 Like

40% to UST holders at the time of the new network launch
UST holders are critical components of the old network -

This apply also for holders in CEXs?
Thanks!

1 Like

I reject that proposal. Fix the current projects or die. We all have only one life. This will be an outrageous precedent in the cryptoverse to use a reset button when the conditions become unfavourable.

3 Likes

Few points.

  1. Is the 40% given to UST holders also include aUST right?
  2. I think we have an opportinity to make a really great chain here. Would be great to take the time and have a very well designed project. I think we need to salvage some of the great aspects of the Luna mechanism. The burning/minting process i think is one of those aspects. i.e. A stablecoin that has a base amount collateralized by bitcoin and can capture the value of the growth in the stablecoin by burning Luna. If well designed would be interesting as it monetizes growth but at the same time caps the floor value.
  3. We would be great to get buyin from a great public figure (anyone friends with Elon Musk to help design the future of space money) :smiley:

Totally agree, there is a simple short-term solution, which is fix the UST/Luna conversion rate at the last transaction price. I think it is fair and good for both UST and Luna holders.

1 Like