I support this, best proposal so far!
2 Likes
I was not in any long positions at the depeg but have traded LUNA for the past year. Most recently I bought (53.12) LUNA at an average price of 103.3CAD . I sold on April 29 100%.
Then I made the following purchases:
I bought all my LUNA on:
May 9 (167.86 LUNA) @ 60.00CAD, + a further (58.65) LUNA at 44.33CAD.
May 10 I bought (49.84) LUNA at 24.97CAD
May 11 (777) LUNA at 1.35CAD + (800.29) LUNA at .56CAD
May 12 (188560) LUNA at 0.01194CAD which I think is the last purchase before de-list.
How am I to be compensated for V2? This represents a total investment of over $14000.00 that turned into $42.00 CAD in less than 72 hours…you took my money…gave it to UST and then diluted my LUNA right down to less than a penny. Not impressed.
Holy Sh@$ hydra at a whole nother level.
1 Like
This proposal rewards more than it does any other. More viable. And the community will explode much more than it was.
5 Likes
you are right in that luna is the underlying asset, and the driving force in the equation.
but i think your assessmemt of the importance, or relevance of ust, and its need to be removed is not accurate.
a formula to keep a variable at a set point, is actually very common, not magic. in a chemical processing plant there will be computers controlling 1-multiple input variables, and resulting in one stable putput variable. there will be computers controlling 1000s of those computers, for 1, 2, 3 stable output streams. this is not remotely difficult to achieve, is done in 100s of 1000s of locations around the world, 1000x a minute. there is nothing wrong with ust, but it does need a patch from a particular event occuring.
same as in the early days of oil or chemical processing, a runaway event occurs, leading to mass destruction and death. they learn something new about a specific product, or control (stable coin) in general. its patched, proved, we move on, with much higher levels of confidence.
forking, or changing the stable coin side, sends the wrong message
2 Likes
exactly! successful rebuild proves stability of terra. lessons learned and improved resistance to same event occuring again, increases attractiveness of terra far beyond what it was at ath
4 Likes
Most sound proposal for this crisis, I support it,
We all lost money from this crisis, it’s been a difficult week for all, watching value evaporate. Instead of wishful thinking, let’s support a proposal that can save Terra first and the value will follow afterwards.
Right now, we should attack the problem → focus on restoring the ecosystems using the most constructive proposal.
Let’s be honest, no one would be dumb enough to be the exit liquidity. Save Terra using a sound solution can build confidence again. The value will follow later.
9 Likes
@Nikola-HydraChain Thank you for your detailed analysis. AFAIC you (and your team) should advise Luna project permanently. It seams that the current project pilots don’t know what they are doing.
8 Likes
Still cant believe Do Kwon or other didnt reply to this. The only sensible way to do it.
4 Likes
maybe use a hashtag on twitter so we can’t be ignored?
2 Likes
Do we have the team looking at this proposal?
2 Likes
buy more, you have same opportunity to buy in as everyone else, at the new bottom.
if i told you that you could buy luna at launch prices, when it was 125, you would be foaming at the mouth
exactly right!
ive lost heaps, still bought on the way down, and will buy on the way back up.
protecting the terra network is key. the value will definitely follow.
if you lost, you lost. thats the risk of investing. great news is, you now know what a great product terra is, and can buy your bag back, at a fraction of the cost!
yep, might be a bit bitter that someone else offers a better solution. need to get more votes on governance too. any stakers here, please vote, please petition the delegators to vote, please petition on social media to get the conversation rolling.
as mentioned above, the faster we recover, the stronger the recovery
My proposal could compound and maybe even accalarate this implentation. Still i believe that fork is required and snapshot must be used with complicated rollback of presnapshot trading that is for some resaon not collectivly halted.
There is too much noise in the system last 24h of order of magnitudes inflation trading creating too high resolution of the problem.
classic-agora.terra.money/t/terra-ecosystem-revival-plan/8701/2537?u=oscillator
The price now is a tenth of what it was when you wrote this, so 33B LUNA could be bought with $1. The LUNA supply is 6 trillion. 33B LUNA is a drop in the ocean.
If Terra is to be saved, a reset is inevitable. All of the teams who built on Terra designed their projects with UST pegged at $1 as a fundamental part of their thinking. It’s within their DAPPS that the LUNA economy circulates. How many of them could continue with a floating UST?
It’s great to discuss on this board, but for meaningful advancement what’s needed is a forum where everyone who built on Terra gets together with economic theorists such as yourself to decide what is and isn’t feasible. If common ground can be found, realistic proposals can be taken to the money men and to the community.
I agree!
Now it’s the time to put down all ego and eat the humble pie.
The solution should be the best for the community, not feed an individual ego.
1 Like
I support this. Simply ditching the stable coin will ruin defi for Terra.
3 Likes