PROPOSAL: Most Inclusive Compensation Arrangement to Restore Confidence

Summary
While it hurts that most of us have lost almost everything in the wake of the recent crash in the values of both LUNA and UST, I can see that most of the community have come to terms with reality, and now look forward to the future. This however, does not mean there’s no loss of confidence and trust. This I believe, the Terra team has acknowledged, and is behind their motivation to compensate its users.

Motivation
I believe it is important for the community to heal and the project rises up again to become even more greater. I want Terra to succeed. But things have to be done the right way in order to restore confidence.

Proposal
I believe it is important for the community to heal and the project rises up again to become even more greater. I want Terra to succeed. But things have to be done the right way in order to restore confidence.

I have reviewed the Proposal by the Terra Team, and which is currently being voted on. I think the last ammendment tried to be as inclusive as possible, however, I have a proposal I believe will do much good. At least, for the sake of fairness.

With regards to the snapshot, I think it would be fair to make three snapshots instead of the two being proposed.

I believe to effectively address concerns around issues of fair compensation package. 3 snapshots should be done in this order.

  1. Before the Attack

  2. During the attack while LUNA was yet to exceed 10 billion total circulation. Or between the period DK tweeted assuring investors that efforts were being made to tackle the crisis. Should be between 11-12 May.

  3. And lastly, anyone who bought while the circulation exceeded 10 billion LUNA.

This I believe would address most of the concerns and seriously motivate the community. I call on the TERRA team to look into this recommendations and make necessary ammendments.

9 Likes

Yes agree.

It should be before the last halt.

As people bought thinking recover gonna rescue soon since he mentioned recovery plan he had, and told to strong and were talking about how people will see luna gonna make noise and so on.

After the last halt people realise there’s no coming back of this coin.

So it woube fair for everyone if its on the last halt

2 Likes

Totally agree
But don’t forget the people who were supporting LUNA until its minimum price without selling.
For this reason I think it will be better to take three screenshots.
1/ 05/07/2022 before the attack.
2/ 05/13/2022 when LUNA was at its minimum extreme.
3/ 05/27/2022 for everyone who entered to have a part of the airdop.

3 Likes

You are right, if you can submit it as a proposal that can be voted on.

1 Like
  1. 45%
  2. 25%
  3. 5%
1 Like

Another agree. I was a LUNA hodler before the attack. I had also been researching where would be the best place to earn interest on stablecoins prior to the attack, and saw Anchor recommended so many places. When I saw UST had lost its peg I thought it was only temporary due to market volatility. My first purchase was around $0.90 on May 9th. When it fell below $0.80 I bought more still with the belief it would repeg and encouraged by tweets from Mr. Kwon .

I should have cashed out when UST went back above $0.90 May 10th, but I was not trying to swing trade. Plan was to hold it long term for interest in Anchor. I even bought a little more thinking it was on its way to repeg.

Current two snapshot plan is screwing me over again. My UST is missed by the pre-attack snapshot, and I bought much higher than what is available now when people know there is a snapshot coming.

Close to announcing a recovery plan for $UST. Hang tight.

— Do Kwon :full_moon: (@stablekwon) May 10, 2022

2 Likes

Yeah the people screwed the most don’t include current buyers now because they can buy by the boatloads, but the transitory period were they were hyperinflating seriously mostly late 5/11 and early 5/12 when it started going from a billion to 100s of billions. They will be lumped into the 6.5 Trillion marketcap instead of their respective market caps when they purchased. This will make their stake in the Luna ~ 0.

1 Like

You all don’t seem to understand how markets work. You may not like that the value of the coins you bought before the event dropped to near 0, and that others have been able to buy in for far less than you did. But that is reality, the supply was inflated, and any one who large amounts of coins for a small value are just as legitimate investors as those who bought before the event. The value that was injected by buyers post event was just as real as the value injected prior to the event.

The only way to distribute value from a fork that will be seen as legitimate and not a complete p_o_n_z_i scheme, is to distribute tokens based on each holders value as a % of the total market cap AT THE TIME OF THE FORK, not at some magical snapshot taken in the past. That has to include everyone, staked, unstaked, CEX, everywhere, everyone. Anyone who put value into the system at anytime, on any platform is a legitimate shareholder, and deserves an equal stake in the future of the platform.

Anything else is just a fantasy and will have no legitimacy what so ever.

1 Like

To make it fair for everyone there is two way.

Take snapshot before the last halt.
Rake snapshot as do kwon proposed on 27 th may.

Or make it three snapshots.

1-Snapshot before the attack on 7th may
2-snapshot before the last halt (8 to 13 may I belive)
3-snapshot after the attack (14 th may to 27th May)

Everyone would be equal in that sense.

Why we are only being left out we bought at high price when supplies was still low. And do kwon tweeted how we should stay strong.


I added his tweets.

So make it fair or distribute according to the circulations they bought at.

His first proposal seemed OK.


Look he seemed to appreciate us and then kicked us out.

1 Like

Do.Kwon’s Twitter post asking investors to stay firm, cannot be ignored as it did encourage many to keep buying. So it is logical that he considers those who acted before the collapse got out of control by 12th.