I am a full stack developer converted to crypto investor/trader and Terra Luna was my biggest asset. It was giving me very nice income so I was buying all the Luna I could. 99.9% of my revenue was from trading, and very little from stacking.
Now, don’t get angry with me. Hold on tight for some minutes and judge after you read the whole thread.
I don’t want to be disrespectful with anybody. I am not a heartless person who does not care about others but everywhere you move in the crypto currency space you see a warning message about the risks.
And since UST-LUNA crashed the whole internet is full of messages asking for a refund, everybody seems to forget that the moment we choose to buy a crypto we are accepting the risks.
- No fork,
- No refunds
- Create a community fund to support those that are left with nothing. And by nothing I mean poor people only, people that really need it; to eat, to pay the rent, etc.
- Continue current Terra blockchain development and focus on bringing new value to it.
We all must accept that there was a big loss and there is no possible way to simply undo what was wrong. There is not enough money to undo what is wrong. There is no way to refund the losses, either old investors, or new investors will end up losing money, and the pain will be bigger when one part is compensated while the other part is not.
But we can go on, day by day, and since TERRA LUNA has a utility, the value will go up in time. Many things can be done, slowly buyback, expand to new blockchains, bring more value…
If we bleed out the treasury with refunds, we will make everything harder.
LUNA team needs to hold some liquidity so improvements can be made.
So my proposal is simple: suport TERRA LUNA continuation and just keep moving forward.
Fix all design flaws in the blockchain coding and make sure this can’t happen again.
For traders it doesn’t matter if the coin is worth $80 or $0,00018. What matters is to be a long term project. Of course now I have an asset sitting in my wallet that I can’t touch until it reaches $80 again, but if things are done right, I am confident that day will come.
An external audition of the entire TERRA LUNA team to clarify what happened and most important, to provide trust to the community. There must be no doubt about the recent events.
There must be leadership, voted by the community. I never cared about how Terra Luna organizes but since recent events I have been struggling to find out who is in charge of the different tasks. I understand that the scope here is to be fully decentralized, but that doesn’t mean that nobody should be organizing things, to ensure optimal results. It is totally unproductive not to have a good organizing structure. With today’s technology there could be a voting every month, and ensure everything works perfectly.