[Prop 1691] Terra v2.2: A Fair 11-point Confidence Restoration Plan for the Terra Enterprise

[ERG]

Deconstructive Support (Recommendation: NO)

Cancel the Debt Concept

The cancel the debt concept seeks to eliminate all debt without compensating UST customers when starting over

[ Proposal ] Fork + Burn / Fee for Validators & Devs - TFL - Do Kwon

I propose we fork from current chain leaving supply intact. Get rid of UST. Blacklist Terra and Do Kwon / Exploit wallets. Implement transactional burn / fee for 3% - 0.1% going to validators, 0.1% going to Devs 1.5% going to previous UST holders until they are made whole with wallets having <$500,000 USD 1.3% being burned until supply reaches 300,000,000-1,000,000,000 (up for debate) Create USTv2 that is collateralized via BTC / USD. I’ll update this soon.

@Shiradi:
The LUNA exists to keep the UST pegged to the dollar so that UST customers can freely use it without concerning about the asset side fluctuations. By canceling the UST is to admit that DeFi never worked.