[Proposal] Friendly fork: 2 chains

No one can stop a fork. Or force abandonment of unforked chain.

  • Fork should offer no immediate rewards to current chain suspension point holders.
  • Fork point where UST and Luna market caps were equal allows 50% rewards split among those token holders. But picking points just prior to steep meltdown of one/both is fair too.
  • Community pool/LFG would automatically be compensated in “rollback”? so no need for a share?
  • IBC means it is easy for v1 and v2 to trade.
  • v1 Luna/UST would be what is currently on exchanges.
    *Cooperation between v1 and v2 on naming things should happen. Tools/wallets need new downloads to support v2 addresses.

Both chains should continue to exist. Most apps can be adapted to work with both, and no changes for core functionality needed to work individually.

The new 7T Luna holders cannot be expected to vote for proposals that benefit “original sub 500M” Luna holders. A fork with the interests of original holders is needed. Those who bought at 0.0001 have 1M the voting power as those who bought/held at $100.

The fork needs to give 0 consideration/immediate airdrops to the v1 chain, because v2 interests are unaligned, but also because v2 owners also have v1 ownership levels of some kind. They can vote their v1 interests on v1 chain.

This all assumes that big players will support one chain or the other. That there is some support for the fork, and if so, it is unstoppable.

Being nice/cooperative to v1 chain including future “burn airdrops” is important, but encouraging v1 to keep going with their own governance. I’d encourage v1 to bias luna value over UST but that is their choice.

@dokwon 's revival proposal is the spirit of my proposal. His arbitrary 1B luna supply point is as arbitrary as my equal ust/luna market cap point.

Fine tuning rewards/airdrops could be made by identifying addresses with large/any withdrawals to exchanges on may 8th (9th?) and penalizing their rewards. Exchange held balances wouldn’t qualify for rewards.