what to do
- reimburse Anchor users pre-attack based on Tiered Repayment Proposal
- fix the $UST peg
- burn superfluous $LUNA and $UST
reimburse as described in the proposal it makes sense to make whole the bottom end of the distribution first as best possible with the available reserves. Top 100 $UST holders make up 93.6% of the balance. 7% of 11B are still available in reserves to make whole the bottom 7% of $UST holders. (I believe we can get funding once there is a PLAN of action that isn’t a hard-fork half-ass solution)
if I understand correctly the marketcap of $LUNA must be greater than that of $UST to fix the peg … now that they are approximately the same we need to increase the market cap of $LUNA quickly.
it appears that $UST has become much more centralized … while $LUNA has become a lot more decentralized:
why is this?
to me it seems logical that: when people who understand $UST saw what was going on … they bought more $UST because they believed in the peg.
in the meanwhile, since it appeared that the peg had some chance at recovering, while $LUNA was inflating like crazy, the degenerates threw some chump change into $LUNA expecting to make overnight gains
$LUNA has become the peoples coin, and $UST has become the whales coin.
furthermore I have noticed that the market caps of $LUNA and $UST are very closely correlated because the day-traders of this asset know exactly what to expect and when.
in every way possible this should be done, allow donations from community, create NFTs, hell you can even announce metaverse land as i wrote about in another post (METAVERSE idea)
TLDR: burn 6$LUNA for 1 plot of land in Terra metaverse , burn 6T $LUNA
A solution must also be found to reduce the amount of $UST in circulation as this would alleviate peg pressure … it is impossible to defend 11B $UST with a market cap of $LUNA at <2B … perhaps allow Anchor rewards for the coming year only to whales that burn 1 $UST for every $UST they want to save. e.g. if you had 50m $UST, you would buy up (or probably already have bought) 50m $UST at .08 and burn them to claim your Anchor rewards for the year
I believe so long as there is faith in the restoration of the peg, we can move forward.
Maybe the market cap of $LUNA will not go back to 20B, maybe it will get to 5B, or maybe it will get to 50B
The only reason why people are not pumping this project is because they don’t know where it is headed, the only people left trading this are you and I.
if $UST whales could burn $UST this would also restore the peg at an accelerated rate as the market cap and circulating supply converge.
as always I am just sharing some of my thoughts and I am not an expert in this, feel free to take this apart and/or share your ideas on the matter. take care everyone.