Best proposal yet!!
A lot of unexpected things have happened. Luna becoming a meme being one of them. In crypto memes are king, the best marketing for a project. Lets revive terra to become a better version of what it was and leverage on what has already been built.
Should keep Luna as a meme. Airdrop a new governance and staking token to pre-attack luna holders. And use any remaining reserve to restore UST peg, can keep the current algo with meme-luna and find a way to collateralize UST going forward. When the peg is restored, meme-Luna will fly. You win on every aspect this way