You didn’t do anything criminal, but when you sold you contributed to the fall of the price and the whole ecosystem. You took your risks by exiting but now you have saved part of your capital. Obviously, the best solution would be to repay everyone, but if this is not possible, then it is right that you first help those who have risked 100% of their investment.
1 Like
For those who didn’t follow twitter and have aUST or some UST outside the native network : validation is up, transfer them to the native network as per recommendation
Great idea! Decouple LUNA from UST. Let LUNA act like BTC in a store of value. A new moon.
- Keeps people that DCAd whole
- Doesn’t hurt people after the event that took advantage of LUNA on sale.
- Still can isolate/investigate suspicious very large wallets that were not on a CEX
- Keeps the brand whole
- Potential to burn excess
People can add here, but I see the potential.
4 Likes
Please add something for the holders as well, I lost everything 8k Luna down the drain
Yep, up vote for that.
Decouple Luna.
You can include the ones who bought LUNA starting from May 13th but reduce their share by 20.000 times. You have to be fair to the initial holders, those who made it what it is, if you want people to trust you.
2 Likes
What? Fair with those who bought before May 13th and unfair with those who bought after? Brilliant.
1 Like
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.
5 Likes
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.
1 Like
in degen words, if you have UST on a CEX, move it to the terra wallet, right?
1 Like
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?
1 Like
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.
2 Likes
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
2 Likes
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.
1 Like
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!
Congrats.
Resetting Luna will give zero confidence, code a way burn coin on each trade, to up the value, and decouple UST.
2 Likes
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.
4 Likes
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.
1 Like