[ Proposal ] Creation of a new token to increase demand for UST and Luna's rescue plan

Hello guys,

I have read very carefully the various proposals and comments from various interested parties.
Below, I report a structured plan that in my opinion, could give a new boost and strength to this fantastic blockchain.

First and foremost, we need to get back to stimulating the purchase of UST because this will benefit the entire ecosystem.

To do this, I propose the creation of a new governance token: SALVALUNA

SALVALUNA will need to have a Market Cap similar to Luna’s before the attack.
SALVALUNA will need to be distributed to:

1) All who will bring UST back to Terra Station (this will fuel demand for UST and this goes to solve the problem of everyone who had UST in CEXs) and lock them on Anchor for 30 days.

2) All those who will bring LUNA back to Terra Station, these users should be divided into two categories:

A) Those who have created a portfolio on Terra Station at a date prior to the attack.
B) Those who created a wallet on Terra Station at a date after the attack

Those who belong to group A will see a free airdrop of SALVALUNA for an amount preceded perima of the attack.
Those who belong to group B will be able to exchange LUNA for SALVALUNA at a discount price

3) Stakers of Luna

4) Developers

That said, we need to create an ecosystem similar to the one present before the attack but less vulnerable.

For this very reason, I propose to:

1) Use the remaining available reserves to purchase collateralized, non-algorithmic STABLE COINS (non BTC) in order to at least partially collateralize the value of UST

2) Set a Lock period for withdrawal from Anchor based on the amount of withdrawal. For example:

Up to 1000 UST, instant withdrawal
Up to 10k UST, withdrawal in 24 hours
Up to 50k UST withdrawal in 48 hours
Up to 200k UST withdrawal in 72 hours
and so on…

3) Burn most Luna mint by implementing a fee burning mechanism on exchanges between SALVALUNA and LUNA.

Some concepts may be slightly inaccurate but I want to give you all a chance to evaluate and possibly improve this proposal.


let me know what you guys think!


I really like this proposal, it seems very reasonable.

@dokwon.terra @dokwon what do you think about it?

1 Like

I really like this idea very much.
I think the vesting mechanism on Anchor could have saved us from this situation.

Also, by allowing a minimum of UST that can be taken immediately, it could still remain a great marketing tool.

We need to learn from mistakes and rebuild slowly. I support this idea.

I think a lot more focus should be around salvaging LUNA and UST instead of creating a new token.

You have to remember that when you create a new token, you’re also assuming you can get it into the exchanges. Right now the exchanges are keeping LUNA and UST because so many people are holding it. I highly doubt they’d touch anything else created by Do Kwon with a 10 foot pole.

The only way to restore trust in the project is buying LUNA to increase the value and prove to people the project does work. Just because it’s taking longer than other coins take to recover doesn’t mean it won’t - it’s just because LUNA/UST are unique - which is exactly what attracted most of us to it in the first place.