Da Kwon and Terra Community, da kwon fork terra recovery plan is not good.
Fork is completely wrong, bullshit and unfair.
I vote against it
The solution is not Fork. The solution is Token vesting and Token burn.
So here’s my Terra Luna recovery plan =
- Use your entire reserve and UST supply to Buy Back Luna supply.
Use these buyback Luna tokens to compensate affected UST holders and Luna holders pre-attack with 5 years of Token vesting. 1 percent unlock every month.
And investors who believed and helped Luna’s price recover must get tokens for which they invested. Vest their tokens too. 1 percent per month unlock.
And once pre-attack investors are compensated with Buyback Luna tokens, burn all remaining luna to help stabilise the Luna price.
No stake, No fork, no relaunch nothing. CZ Binance is right. And Da Kwon you are right too about Terra that Terra is superior than UST.
So Prioritise Token vesting according to categories, like luna developer, creators etc. Lock their tokens for less time, and increase unlock percent for them to 2 percent per month.
Give priority to small investors of Luna and UST in re-distribution. Massive institutional investors can survive the low portfolio and hodl till price restores.
Now what this solution will do is = saves the entire luna community and future investors too. Because of Luna token vesting for all investors (current and old), the old investors can’t manipulate the price at all and new investors will be safe to invest in Luna.
And everyone will get assurance and calmness that their money is safe and locked. And Luna saved everyone.
This is Optional = If possible add a buy/sell tax of 5 percent for creating reserves and a burn mechanism.
So with this solution, the entire UST community will become one whole Luna community. And Trust in luna will be restored completely.
And once luna reaches 10 dollars and more everyone can decide to either sell, hodl, stake (in future), or trade it on the open market and come back to reinvest profits in Luna again.
New investors can safely trade as usual without any unnecessary sell pressure.
So the solution is buyback and redistribute and burn. And vesting current circulating supply and redistribution. The solution is to completely remove the selling pressure of current investors from new investors.
Ask the community to lock their decentralised tokens and reclaim them via a vesting strategy. Centralised tokens can easily be vested by exchanges.
The Luna fork is not a solution. It’s completely unfair to everyone.
My Luna recovery plan, I request Luna community and Luna team please check it out.
Twitter thread =