Fisrt of all, there’re only that amount of UST, it WON’T GO TO 0 by the system(remember how AMM works). UST circulating supply: Messari - Bitcoin & crypto price, news, charts, and research
And loss is loss, value gone is gone. Shorter already won and ran, you CAN NOT recover that. All stakers are got short by the attacker and the value is ALREADY LOST/ROBBED. That BS proposal basically wants to MIGRATE ALL THEIR RISK/LOSS to the rest of the ecosystem. All their tokens got dilluted, and it’s nobody’s fault(attacker is malicious though), it’s how the Terra system is designed, and yes now it’s proven it’s FLAWED. And now they want its value back, if that’s not INSIDIOUS AF I don’t know what is. Currently almost all % of LUNA is held by people who buys UST(basically saving it) and burnt it for LUNA. Hopefully you don’t want to hear that because you’re the one of them had invest way too much you can’t afford to lose without understand the RISK.
Also You sell your UST = taken loss. Buy UST = believe the ORIGINAL chain will CONTINUE RUNNING, and benefits after recovery.
All following is only valid if the chain is running, halted chain will not recover.
Yes. As of now, you either let the system slowly recover itself(it will, UST is getting burnt(same as swap on Terra) to mint Luna constantly while < $1. It just a matter of time it recover to $1, just like AMM). But I think eventually Luna will need like a 1000000:1 convert though.
If you really wants to help, just buy either token(they’re essentially the same thing, and very cheap now), support the price, to eventually exhaust the sellers(liquidated systematic leverage in TeFi ecosystem)(KEY PROBLEM, there’re still UST seller < $1 left, they’re loss takers))
And DEFINITELY NOT by CREATING A NEW CHAIN by another proposal, WTF. Anyway to trying “Redistribute” is basically BS, and unfair to someone. Basically scam level behaviour on Blockchain space. You all any token holder just got scammed if you accept that BS proposal to start a new chain and get whatever it’ll distribute to you. Don’t scream under that thread, it’s essentially BS from very beginning.
Anyone saying forget UST or forget Luna is retarded. They’re same thing from the very beginning. UST demand high, Luna price high, vice versa. Now no one wants UST so Luna crashes, except people believe it’ll recover eventually and keep buying/saving the network(just call them capital deployer. Call them speculator? Yes. So is VC. No risk no reward). After all:
Only Money can save Terra.
Terra_money. UST/(and otherT) is the key PRODUCT of the project, have to go back to $1 for a potential future.
Disclaimer, I still hold Luna UST 50/50 now, and accepted the risk.