totally agree, dontkwon wrote just stupid sht
6 Likes
They know what should be done, but it doesn’t serve their selfish interest ! what do you want more, binance ceo tells them what should be done, and they still persist to fork ! why ? because they are the minority that profited in the first place, I’m just amazed by this selfish and arrogant guy ! it donna end badly for you, I tell you. you have no idea how many people life you have destroyed, and you want to make a fork and do like nothing happened
7 Likes
This proposal could literally get us back to the previous levels. If they do care about the community and all that, they will buy back LUNA and burn it on an ongoing basis or start implementing burning aspects into transactions. The VOLUME on LUNA is currently larger than BTC so A LOT of LUNA would be burned by each transaction. People will start selling all those coins in their wallets when taking small profits each time and we will stabilize.
9 Likes
I think most people know how to save luna and this team should be involved. In a special period, reason and wisdom can help overcome this difficulty.
2 Likes
@dokwon if you care as you say, pin this proposal now and see if you get even more positive words on this
6 Likes
the two statements you made cannot both be true. they are the same thing, in order for one statement to be true, the other cannot.
the most important thing at this point is thinking with our heads, not our fears. our priority is rebuilding luna, not suggesting selfish plans that suit pur circumstances
if they leveraged and were margin called then wear it.
if they lost it all, but hodl. then its still there.
whatever the reason they lost, the great news is they know now how good the product is, and are able to buy in at the bottom. just like everyone else. they end up with a larger bag then they started with.
2 Likes
buddy, this takes us way past previous ath. this makes previous ath look like may 21 spike.
1 Like
fork is fail, we should take over original network with this proposal. need to reach quorom on governance. need publicity.
do the right thing buddy.
5 Likes
Best proposal I’ve read. I’ve written one but it can be combined with yours for great results; I’ll write some of it here:
It’s driven by Supply and Demand which is what Terra Luna is supposed to be doing
This will help both UST and LUNA recover
LUNA
- LUNA holders stake their LUNA to support the network (This will get every stakeholder who lost money involved to get the network stronger)
(I’m willing to do it myself) - this is a trade-off every member is willing to take for the sake of the ecosystem and his/her funds
Or if you must give an incentive: keep incentives locked and release them at later time when LUNA supply is back to 500M
This will keep the coins in circulation at a decent amount
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The staked get unlocked overtime so supply will not flood the market
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Burn every minted LUNA automatically to keep its supply in control
first mechanism to save LUNA pricE
- Create a price floor using LFG funds and every Luna bought for touching the price floor will be partially burnt so the LFG funds paid will be recovered at a later price point
Preferably well after the 1 dollar
Here’s an initial example with figures:
Initial floor 0.0001 or whatever equivalent in BTC which is the price now and it moves up gradually
and it would absorb 50% at the most from a 6.91T in supply and the budget for that 50% would be 345.5M USD
Every 1 LUNA absorbed gets partially burnt so if the price is 0.0001
and LFG redemption price (as an example) 2 USD
1−(0.0001 devided by 2)=0.99995 is burned
The 0.00005 will be equal to the 0.0001 paid when bought it at a lower rate
The market does the rest as the supply decreases
As soon as LUNA passes the $1 mark the burn will be faster and the market will react to it creating demand.
This is simple math, as an example at the current LUNA price 1 UST minted if UST is back to peg would burn 10K LUNA
How to get UST to peg;
- Resume BTCUST which is trading at a much higher price that USD, it even reached 138K
Sell some LFG BTC to UST at the rates of 60K to kore than 100K
This will bring UST to 0.5 at least
Selling BTC for UST would remove UST supply just like treasury stocks
The algorithm, arbitrage bots, market makers and the free markets will assist in a quick peg
Bought UST at a lower than 1 USD rate should be burned and only enough to recover the funds paid will remain and locked until LUNA recovers past 1 USD (Preferably 2 USD so it burns UST at an exponential rate)
An example:
BTC/USD trades at 30K
BTCUST trades at 150K since USTUSD is at 0.2 (it’s actually even less at the time of writing)
For every 1 UST at that rate, 0.8 gets burnt and 0.2 remain to be redeemed when UST is pegged and LUNA recovers well about 1 USD
Simply:
UST pegged
lock the purchased UST
LUNA Recovers
LFG gets their funds used to revive Terra Luna back
Everyone is happy, no one is losing anything
It requires a time and the community would use the blockchain more which will increase usability and therefore eventually price
This would:
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have LFG take responsibility of their creation and support it with temporary loans
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Keep the community trust in Terra Luna and LFG
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Community member continued usage of Terra Luna which will bring in more users
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A no-loss recovery that would salvage the reputation
Extra steps to be taken:
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Eliminate the loop-holes
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Ban the address/adresses causing the depeg
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Burn the holdings of the address holder who caused the depeg to reduce the supply further
4 Likes
yeah sadly, your right. there could be another point to his post, to direct retail capital.
but honestly, if there is no ulterior motive behind that tweet, i dont think he is as bright as i once thought.
4 Likes
Thank you for the work guy 
1 Like
Thanks so much for that. I actually did buy a lot more…up to 6000000 and change. I had no idea what would happen to my coins if I bought more so I was super hesitant at 1st. I have literally no more cash to buy. I had so much value liquidated in the last few days…over 15000.00 now with some juicy repurchases. Trust me…at 1st I couldn’t believe that I could get LUNA for 60 CAD as it was trading at 85 just seconds before my order trigger. I thought it would never go that low so I was actually pretty thrilled with it. But then like 20 mins later…a tonne of LUNA comes onto the exchange for 40 bucks less! I did DCA all the way down while everyone laughed at me…then when it got delisted I thought I was totally done.
1 Like
+1 very good
3 Likes
SOMEONE GET THIS IMPLEMENTED
This is the only thing that makes sense if you want LUNA to be around as a project.
4 Likes
Completly agree and makes a lot of sense and as quite a few others stated below we beed new leadership and new people at the helm who know what they are doing and who listen to criticism and act on backdoor reports.
4 Likes
Hi there I was said we have similar ideas. Could you check out this thread and say what you think? The idea is to create a solution that won’t be one sided and avoid making a new fork.
4 Likes
Solid Proposal hope developers quickly fox the issue as a weekend one off event and let Luna come back to 100 by End of June 2022
1 Like
Interesting read. I also think that no fork is needed, this just needs a patch as you can fix what its broken.
2 Likes
I’m one of the people who held both LUNA and UST and lost everything these days. Since then, I have been reading all the proposals on this forum (and when I say every proposal, it’s EVERY proposal) but I didn’t believe in them, because those only favour one group of people (UST holders or LUNA holders) and they don’t give value to the ecosystem.
If a proposal is good for UST, it will be bad for my LUNA. And if it’s good for LUNA, it will be bad for my UST. For example, if I get refunded all my UST but the LUNA ecosystem is dead, I will sell them all to get my money back. But maybe even then I won’t be able to do so because everyone will want to sell and I when I sit in the computer to do that, the price of UST will already have struck down.
But finally someone has thought of an idea that is good for both tokens and investors. This is the first serious proposal who is beneficial for everyone. For LUNA holders in the first instance, and when trust is regained in LUNA, to UST holders who will benefit from UST regaining his peg status back. I don’t mind if UST in the short term doesn’t recover its peg, on the condition that after LUNA recovers, UST will follow.
So please, upvote this topic and share it with everyone so they get to know it. First heal LUNA, after that, heal UST. And in that way, the trust in the entire ecosystem will be regained.
ETH had also a critical moment when they had their DAO hack. But they managed to overcome it and nowadays its the number 2 token in the crypto ecosystem. If LUNA can recover from this, it will reach heights that we could never dream of. Please, trust in the experienced people in the field of economics to solve this.
16 Likes
If nobody takes charge, presents a sound plan and starts moving things fast, people buying the dip will stop soon buying anything and move on. Without new money the project is dead in the water. Indecision is worse than a perfectible decision.
1 Like