Whatever direction is taken. I think it’s important to dispel this particular sentiment regarding pre-attack and post-attack holders. Particularly that the former is somehow more valuable than the latter to the community (and thus should be treated with bias in any redistribution scheme).
Let’s address who these people were. Pre-attack UST holders — a profit seeking crypto investor like any other, only the least risk-tolerant type of crypto investor. Saw a sign that said “20% apy on stable!”, and decided to dump all or a significant portion of their networth into a single “safe” protocol. Setting themselves up to be extra ripe for manipulation.
These are the so-called “true believers” of the project. LOL! these are the people who BAILED at the first sign of stress, and caused this whole disaster in the first place!! At the first sign of scraping they DIVED over board, while dip buyers were actively attempting to patch the holes! Sorry to be harsh, but each and every one of you who dumped after the initial depegging locked in your own loss and cemented the projects demise, by going into a selfish panic, revoking and liquidating your assets while making it even worse for the next guy after you. Hence the “spiral”.
No attacker “made” the tokens tank — it was YOU people! All the attacker did was manipulate your fickle, overextended, risk-averse nature. He finessed the NON-believer in all of you.
Now let’s talk post-attack buyers. The people who bought all the way down… who were still buying at the bottom… and still buying now. THOSE are the believers! It takes 1000x the belief to think a sinking, and then apparently sunken ship can rise and sail again. Than it does to only “believe” when the sailing is 100% smooth. Up until it stops being so.
This situation has been terrible in many ways, but one of the only good things to come from it is the attraction of this new type of #LUNAtic to the ecosystem. These are your long haulers. These are your token hoarders, instead of instant mint dumpers. These are the people who would balance out the next panic with their speculative buying.
THESE are the people you WANT in your project. Especially to balance out the type your project initially attracted. You should welcome them. You should welcome with open arms anyone new to your ecosystem at this point, to be frank.
The last thing you want to do, is immediately alienate them… appear to go out of your way to intentionally subvert their speculation… all to appease a few bitter, fickle souls, who caused this whole calamity they’re presently in, in the first place.
In the end this is no different than any other market activity. A seller and a buyer meet, one betting the other is making the less favorable exchange.
The sellers made their trade decision. They were desperate to sell to these very buyers on the way down, frantically, happily shoveling their tokens over to them in bulk. Taking the project down with them. Now there is supposed to be some sort of sympathy for them, and disdain for those they sold to? Because they now feel some type of way about their decision? Or ongoing decision not to buy the bottom as well, since the price has stabilized? Who is stopping them from still buying now?
They, the sellers, the pre-attack holders, are the reason the price tanked so low. They literally were the ones who sold to these very buyers that they now resent. …I’m trying to imagine being bitter at someone for literally taking the offer I provided to them. For purchasing the assets I scrambled to dump onto them, thinking they were worthless. For missing the deal that I was on the wrong side of. And now feeling entitled to certain treatment over them, because of the deal that I presented, while drunk with panic, of which they calmly obliged.
This type of skewed value and biased sentiment should seriously be reconsidered during these path forward deliberations. If the intention was to preserve previous ownership ratios, then a public notice or snapshot warning should’ve gone out, or trading should’ve been halted altogether. Not “hold on guys, this ain’t over til it’s over, keep the faith” type tweets.
Instead of being preoccupied with such ratios, maybe the concern should be making the previous UST holders whole, in relief dollars, while also making any new members to the community feel welcome and appreciated as possible. Not slighted upon entry.