[Proposal] Terra Ecosystem Revival Plan with $UST2 Stable Coin

This proposal is to take a snapshot prior to the de-peg (similar to the tick by @dokwon )

Instead of airdrop $LUNA2 to both $LUNA and $UST holders (as in @dokwon proposal), this proposal suggest to have $LUNA2 for $LUNA holder, and $UST2 for $UST holder (with a discount).

Instead of discarding everything Terra has built with its Ecosystem, preserving a stable coin $UST2 will help retain the ecosystem.

agree - the value is Luna network and community - burn and buy - burn alot and buy alot - I did before and now after the event - come back later for stablecoin - it is not a backed asset so should not be treated as senior debt - this will spur regulation Biden or Toomy - prefer toomy I think - either way burn and buy and collaborate - having no transparency and communication is in itself detrimental especially with all the big backers working out how to save and profit themselves…

Do not trust this GS390, I repeat, do not trust this GS390, he is the one putting everyone in big trouble

I disagree with my 2 hands, 2 legs and my head

Please kindly follow the sequence of events here:

Agree

What DISCOUNT LUNA HODLERS SHOULD GIVE? UST HODLERS 50% LUNA HODLERS???

99 % OF US ARE UST AND LUNA HODLERS. AND 100% OF US ARE UST AND LUNA USERS!!!

I THINK EVERYBODY START TO TALK ABOUT UST LIKE PART OF ANOTHER SYSTEM. GUYS THIS IS LUNA CURRENCY, PART OF LUNA SYSTEM, CREATETED BY LUNA’S CREATORS ETC ETC.

Market will find out $LUNA2 value through price discovery.

2 USTs for one UST2, does that mean UST2 has value? It would be better to exchange each USDT for Lusdt, with the USDT collateral coin as a decentralized stable coin for Terra, with no pegging mechanism at all.

You sink Luna and UST and now you propose Luna 2 and UST2 again? I disagee with my 2 hands and 2 legs

Over my dxxd body!!!

Agree with USDT or USDC backed stablecoin.

It will take time to rebuild the Ecosystem though

1 Like

UST is Lehman - learn and move on to create value where it can be found - tooney or biden will regulate and the backers will want to see some value out of the current asset - luna

Everyone is trying to do their best to provide some help…

We all agree that the main issue of all of this if the depeg.

With the absolute void from Terra, @gs390’s proposal was to increase the minting to restore the peg quickly, which was / is not implemented, I believe.

It’s true it was not implemented before the collapse of $LUNA.

here is a sequence of event.

he sink us once, you want him to sell you to hell again? Dont trust this GS390

The snapshot is a horrible idea because it rewards and incentivizes those that jumped ship causing an acceleration of the crash, and punishes holders and buyers that attempted to catch the falling knife to stabilize the market. This is the exact inverse of the incentive structure necessary to stabilize the market, such as increase and burn of TX fees which has already been proposed.

The heart of the matter is that USTs cannot be issued without any accounting.

Doesn’t matter if it’s GS390 or DO fault. It’s matter what they can do to get us back. You want them to just leave and do nothing.

@dokwon Proposal has similar snapshot idea, using a tick prior to de-peg.

Would love to hear better ideas.

I dont trust him, period

This GS390 should be the one being hunted down by others for causing so many people went bankrupt

You do not have to. It is your choice.

That said, the market has its own way of working. It will find equilibrium, one way or another. This is basic rules, and is not in any of our individual control.

What happened is unfortunate.

I also lost significant amount due to this catastrophic event.

Take a look at here if you feel better at later time.