That’s not a good idea, if you save UST holders first, the entire ecosystem breaks down. First save LUNA ecosystem and that will allow you to then, save UST. Everyone gets saved with this measure.
It’s the best outcome for everyone.
1 Like
Agree to the proposal
5 Likes
Instead of depositing both ust and bluna in Anchor why can’t they guarantee return of 1 dollar equivalent for UST.
The locking period determines the fee in luna. The luna thus earned can be burned.
For example if someone wants to lock UST for
- 1 week and is urgent to get out of the ecosystem, then he can pay 15% (i.e. he is promised to get back 85cents while 15cents he needs to pay txn fee in luna)
- 2 weeks and so what is okay to wait can pay 10% fees
I am just giving some numbers but the idea is to pull back all UST in open market into Anchor and at the same time create buying pressure on luna which can be later burned.
Please consider this and let me know if this works or doesn’t work.
This I posted here as well:
https://twitter.com/sgpopuri/status/1525504020877520896
Need not be Anchor. It could be a temporary dapp to suck all the ust in market. I don’t think anyone is looking for yield at this point of time. All are looking at the plan to re-peg without losing luna.
Once all ust is back you can think of revival plans for decentralized money.
Thanks
4 Likes
100 cents is a dollar buddy
2 Likes
Everyone is abstaining…
I’m not sure it’s gonna go anywhere. end of the day the whales control the votes. They’ll seek their personal interests and they might be more interested in being compensated. People are trying to salvage what they can, rather than focus on long term project success. I personally believe Do isn’t as smart as we thought as well, his tweets hurt my eyes, and his proposal is so dull, his communication during the crisis and the lack off were really disturbing. Not to mention he did not take any effective action other than burn the reserve and watch the whole thing collapse while telling everyone to “hold steady” and hang tight.
Let’s not forget the scenario we had faced could clearly have been tested. I’m assuming no stress testing was done, and such vulnerabilities under extreme conditions were not anticipated, nor documented.
This project is dead dead in my humble opinion. It’s turned into a shitcoin.
Its fellow project will look to move to other ecosystems in the short-term/mid-term.
4 Likes
THIS IS THE PROPOSAL WE NEED TO PUSH!
I’ve been saying it all along! we can’t stop the death spiral until we save Luna! Short term UST peg must be sacrificed for the sake of the long term. They’ve obviously nearly killed Luna already trying to “restore the peg” which we can all agree absolutely has not worked.
Guys please come to your senses and push this proposal. @dokwon Luna is not dead yet. it can still be saved. this is the only way.
8 Likes
Why are there so few votes for this proposal? It seems that people are not interested in voting after many different votes have appeared in the governance. So many topics have been created that I can’t understand if some kind of consensus has been reached? Is something going on to fix the disaster?
4 Likes
This is probably the best idea for saving the project on this forum. Do Knwon idea sucks, it is just aimed at saving the developers and the ecosystem without considering the community and the people who lost loads of money with ust. Forks is the worst solution for the community at this moment and for sure it is not going to improve the things. I really hope this idea is the idea that is going to be implemented 
Let’s do this together!
8 Likes
+++
Do Kwon must get in touch, create a new post in which a vote will be held for one or another option. (I’m for 8 steps to save the Luna")
5 Likes
I agree with you.
1 Like
please back this proposal
3 Likes
This can be implemented along with the ecosystem revival plan, but first we need to separate stakeholders into their respective camps with this:
Then from there, rebuild, implement this strategy, sue vcs TFL lfg and jump for a legal precedent and to make previous UST investors whole.
Once new chain/reboot of this one is implemented, redistribute new Luna to holders / stakers and move on from there.
Hopefully that leads to the best path forward from here.
Luna can and will recover, NO FORK NEEDED, NO RE-peg needed. The remaining funds need to be invested in making everything secure so this never happens again.
LUNA and UST will heal themselves with new money coming in.
2 Likes
I agree with this. Payback ust holders will also reduce total ust supply but payback in full especially small investors is a wast of liquidity rn imo. I don’t think they will ever investing in this project or even crypto again.
Say the Luna reward rate at time (t) is R(t). The mining reward rate can be throttled by:
R(t) = R(t-1) *( k(UST) / k(Luna))
This in turn will cause the Luna burn rate to increase.
Let b(t) be the burn rate at time (t). According to the white paper:
b(t) = (1 + g) (R(t-1) / R(t)) b(t-1)
Therefore if R(t-1) > R(t) more Luna will be burned. This plus the market incentives described here: Why $LUNA Isn’t Dead, Yet!. I’m going to keep this post brief… | by CryptoXL | May, 2022 | Medium
Should allow for a repeg. After that UST can be backed, ie. overcollateralized by a hard asset. The volatility model had bad assumptions. That is all. It is possible to restore peg using the methods described in this proposal and my article.
4 Likes
Why is this not pinned yet! 
11 Likes
The only reason why i do not thinkg this is pinned yet is because it makes PERFECT SENSE and it means that the big boys in the project WILL NOT PROFIT as much.
Otherwise… WTH is going on , THIS IS A SOLUTION. IMPLEMENT THIS!!!
10 Likes
Still a lot of ground to cover between the two assets, and most people just want out of the situation. Also many current holders have bought in at super lows, so any added capital is going to get scalped like a meme coin.
good idea
1 Like