How surprising, whales helping whales…
If you don’t wanna look greedy as fuck and want to actually help.
Just continue the circus, keep the miners going
Use 18% of the apy to burn luna and keep a healthy percent of inflation over ust.
But you just want to double win
Whales supporting whales and leaving us as cannon fodder
And what about Mirror.finance stakers ?
Relax the blockchain stopped but yeah… The first stop had to definitive for a while. Since you resumed it price dropped x100
Good ideas for salvation. But. Creating a new version of the Luna and distributing it by snapshot is a mistake. We need to look for another way out of the situation. Didn’t you think that the new Luna would fall into the hands of those who provoked all this horror?
How about the marginal buyers who bought Luna on the Cex between the attack and the halt ? Remember it was the panic sellers who caused the fall, not the buyers. Buyers who bought on Cex on the way down must be rewarded too as they showed material support for Luna during its darkest hours with their real money.
Oh great, and what about all the people who believed in this ecosystem and locked (we couldn’t even sell our assets during the crash) their Luna or UST on Astroport and Mars protocol respectively? Do we count as stakers? I don’t think so, do we count as developers? Unlikely. Do we count as what, marginal holders? Seriously?
I am an engineer and in my field we seek solutions that will work for most.
They can never be 100% fair to everyone, as this is practically impossible.
However, if a proposal is fair to most it will work over time and won’t screw most when applied.
So, for the Terra ecosystem:
Terra chain and ecosystem has proven itself to be probably the best project (team of projects really) by far!!
Very fast, stress tested, very cheap.
It’s a superb L1 (although it didn’t start like that) with a lot of dApps already build and a strong community!
Who has anything like that??
CardAAAAnOOOO ??
or XRP ?
or Doge ?
It pains me to see Terra gone.
More than the over 650k worth i (once had) there, about 385k on the 8th of May (day before attack), with avg Luna price ~$64.
For reference i had:
5351 Luna staked in Terra Station
122 Luna in Terra Station wallet
~ 15,000 UST in Anchor.
Several (most) of Terra Luna Alts, (Anc, Mir, Loop, VKR, Astro, Psi, Neb, SPEC, etc etc etc) Total worth? say about 6,000 UST.
If we want to save Terra, there are 2 ways to try:
Go for UST re-peg to $1 and try to make everything as it was before the attack.
As things are now, (huge de-peg) and trust in UST lost and billions lost, this is in my mind not possible.
It would require a huge amount of money, which people would use as exit liquidity (lost trust) which would de-peg again, entering a vile circle of more lost trust.
Also even if it could at some point rebuild a stable Luna-UST system, it would take years upon years.
Clearly (for me at least) this doesn’t work.
Go for saving Terra and airdropping LunaV2.
Clearly here the big Q is: how are we going to do that?
Snapshot before (so people who put money after, loose everything? ) or after? (so people who had paid $10,000 for Luna at $10 months ago and got 1,000L get ruined by the guy who bought $10 L at 0.001 and got 10,000L as a joke?)
I would propose:
Snapshot before for all people who had Luna, and give them 1:1 Luna V2
For their UST, redeem it at the price of L at the time of crash ( as i see it was around $64, but for ease of calculations, let’s use $60)
That is a fair value because that was the equivelant at the time.
So, for me, 15,000 UST / 60 UST/L = 250 L
What about people who put money during and after the crash?
They must also be preserved (and welcomed into Terra!), however allowing someone to have 100,000L because he bought $100 at 0.01 (perhaps as a joke, perhaps speculation, perhaps to defend the peg, it doesn’t matter) will simply practically eradicate the money and the worth of previous holders, since it will require much more LunaV2 at re-launch.
In my mind the best way to do this is with the same price as redeeming the UST before the attack (as if the attack hadn’t happened).
So, someone who bought $600 would get 10LunaV2 (although they may bought at 0.001 and so they have 600,000 Luna now).
I understand everyone wants the best deal for themselves, but the absolutely best for everyone can’t exist.
Now, let’s say there were (for ease of calculations) 240M Luna before the attack and $600M went into Terra during and after the attack, resulting in 10M more Luna to reflect that 600M at $60 / Luna (price before attack).
New total supply of Luna: 240+10 = 250 (M).
Let’s say new capital of Terra is $1B, the new price of Luna (LunaV2) will be $4.
If new capital is $1.25B it would be $5 / LunaV2.
I wouldn’t suggest going over $10, even if Terra had the money for it, because we will need preserve the new LunaV2 holders, by not giving them immediatelly the chance to exit and use the rest as liquidity.
Also, a lower price of LunaV2 would attract more people in the Ecosystem as they will remember the price was 60-80-120, so they will feel there is a lot of upside ( and actually there will be!)
Most of previous holders bought at prices much higher than the max $10 i propose (i bought at 17.6)
It would be very intersting to explore the possibility of a new stablecoin, a mirrored USDT or USDC, if that is technically possible ( i believe MIR can do that?)
So that would be the stablecoin of our Terra ecosystem.
On chain we would sell LunaV2 for that, if you’d like to move to CEX’s, you’d buy with mUSDT / mUSDC the LunaV2 and move it to e.g. Binance.
Lastly, i will say this again:
I understand everyone would like to gain more out of this situation for themselves.
But like that we will all loose.
I wrote this proposal with all my honesty and good intentions.
There is no easy way out of this, but if we can agree on something like the above, which doesn’t royally screw too many people, we will soon be on track!
Further technical details can always be discussed, but this is the core of my proposal.
Let’s not dillute ourselves in details right now.
Terra must survive! More dApps are coming, Alice card for the US was just a couple of months away, if not mistaken 
This proposal is nowhere near a good one. Whoever held Luna was diluted 17,000 times. I bought 3500 usd myself at an average price of 1 dollar. Whoever fled the UST down the PINO followed the dumb herd and in addition to losing, caused an entire ecosystem to be destroyed. Luna would have been saved if the peg mechanism had been paused until the hysteria had passed.
Actually, before we all and brainstorm how and what to do etc. Is there a damage report? You must have data in the background showing no. of stakers, UST depositors, in different Dapps and the relevant size etc? Need to also contact CEX to see how many Terra users ($UST, $LUNA etc) are stuck there too.
And where’s the VCs? Do we still have VCs? You can’t really make any proposal that matters without the full picture of what is the aftermath on the entire eco system…there will be some tough questions and tough decisions to be made, but again, cannot make this kind of decision without know the full details.
I am under the impression that many people don’t want to fix the economic system, but take the place of the monsters that are currently guiding it. Luna was a good idea, with a huge ecosystem. It failed because of technicalities. Let’s avoid labeling people on intentions - which, anyway, we cannot determine - . Let’s stick to the plan: Luna2, and see if the ecosystem is still powerful, and has learned from its mistakes.
Tell me the difference between stupid and illegal, and I’ll have my wife’s brother arrested.
The Big Short
Even the idea that a time limit has been set for potential victims to be compensated is unacceptable. I bought the Luna token on Binance for over 2 USDT. I did it because I couldn’t imagine not fixing the mistake. I put 15,000 USD on your talent. Then I read that I have no chance of compensation???
You have voted, deployed Proposal#1164 to print new LUNA as hell.
It has for sole purpose to diluate the market and try save your owns interest by selling in mass new tokens.
You had no plans, no risks management and decide the worst at critical times.
Until Proposal#1164 is not reverted and new created tokens burned by the creator nodes (prove me I’m wrong and you haven’t sold them), you are nothing more than scammers.
Binance have take the right choice to delist LUNA and UST as trading pairs.
There are many long-term Luna and UST holders and bonders on other platforms, such as Osmosis, who have lost almost everything. How will they be honoured in this proposal?
On-Chain Luna acquired between the pre-attack Snapshot and its death!
Hey @TerraBuilderAlliance, I went all-in with my savings when Terra was crashing this past 48h. Even though the value in USD fell to nearly 0, I accumulated many Lunas, which was my goal!
It would be unfair to folks like me, who invested everything, trusting that Luna would survive, ended up being run over and forgotten, having lost everything! My Lunas are still on the exchange and waiting for the blockchain to resume to transfer them to Terra station!
Many folks in the crypto community saw this crash as a once-in-a-lifetime opportunity, I included! We believed in you and trusted in Do Kwon’s words that the return of Luna would be “a sight to behold”.
Thank you, and keep up the excellent work; software and systems can be corrected; Please be fair to everyone. We trust in you!
I keep reading it, but it just seems to me you’re asking UST holders, to take the same hit as LUNA holders. But, that isn’t fair. I mean, it is exactly because UST is suppose to be relatively risk free that people hold UST. You can’t ask them to now take an instant 60% hit for holding UST, the same hit as holding the riskier $LUNA. So, if I have 100UST, I’ll now be given 40LUNAv2, which you deemed as $1, but in reality, in market, it could be anything from $0.01 to $x? You would destroy any remaining goodwill in the ecosystem by running along with this.
Then again, I might read it wrong. Please set up an example as to how this actually works, with numbers. e.g if a user has 100$LUNA on staked on Terrastation, $100 worth of LUNA-UST LP and $100 worth of ORION-UST LP on Astroport, and $100 UST on Anchor Protocol, how will this user be compensated according to your proposal? I’m limiting this to everything on the Terra ecosystem to simplify the example…obviously there are those stuck in CEX and other eco like on Solana and RUNE.
Unbelievably. Perhaps you don’t need the market and the rest of the crypto community and you will solve your questions behind the scenes? Do you also intend to trade only inside your warm company? Right now, the Luna token is being sold on the market. For the last 3 days, you have been hoping and using the entire crypto market to save your stable coin, sucking out everything without a trace, and now you are offering to throw out your old asset and its holders as an unused condom?
Thanks, @WhiteRabbit, but the blockchain is stopped, so we can’t transfer out of exchanges. We need to be able to transfer out of exchanges!
What about people who staked UST at Binance at the time when all happens? Will we get our money back? Binance delisted UST now, what should I do?