thanks for your initiative! keep up the good work!
1 Like
why not make a lock up wallet for ustc holders (i.e 1 year) with x luna2 paid as incentive?
When enough ustc is locked up the market module can be restarted
3 Likes
This is not going to work and nobody is going to step in to buy this up to try to restore peg. I mean what is the purpose of trying to revive USTC? A lot of people have already sold their USTC so this wouldnât help.
1 Like
First thing to do is buy them back⌠and then this could help.
1 Like
Yes, actions speak louder than words. Need to make a plan, maybe 2 years maybe 4 years. Buy and publish resultsâŚThe Market will do the same. Now it is on a discount.
1 Like
Yeah their decision to ignore or refute our plees is about to bite them all on the ass.
Criminal charges, litigation fees, reparations, the whole shebang
Regulators either assumed or expected the re-pegging of $UST to be included in their fraudulent proposal.
Just you wait until they discover that capital was deployed to push out a new speculative token over rectifying or replacing their stablecoin
They really would have been better off re-pegging the coin, especially given the tokens current market capitalisation.
1 Like
Agreed. Never too late to amend the fence. But I think TFL leaders will notice our message.
Pushing out a new UST is irresponsible because UST was a Stablecoin and there was a promise on it, not like old Luna which is just a liquid asset. Making UST holder whole and making the UST ecology advance and develop is in the interest of Do & Developers and the community.
A stablecoin is an integral part of the Terra economy.
1 Like
A few points from someone who sees whatâs comingâŚ
-
Terra is (still) a great community that should not be divided. Terra Classic/UST & Terra Luna is one and they should compliment each other. Mistakes were made for sure, Terra got hit hard but itâs time to rise, not just as a new coin with possibly new exciting future utilities but as one Unified Terra Community. Every participant, whether you are a pre-peg holder or not, a builder or a validator, no matter what price you got in or which product you love building on/using most (LUNA, LUNC, USTC) you are all members of the Terra community.
-
Many have exited UST already but some still hold it, wishing for the community & TFL to step in and fix it. Many will choose to use USTC if the community brings it back to peg and takes all necessary actions to restore trust.
-
Take responsibility, end the hate. Lives have been destroyed. Every single person in this community should stop being so selfish and toxic. Everyone lost, not just YOU. It is OUR responsibility to do something about it. Support both chains and all Terra products, bring back the UST peg, restore faith. Be fair, think as one and you will be rewarded. In civil wars no one wins, everyone loses.
-
Communicate. Collaborate. Find new ways to fix/grow the ecosystem, make old UST holders whole even if it takes a year, couple years or more, everyone will applause a true, genuine effort. Be fair to all LUNC/LUNA holders, pre-peg or not.
-
Make an example. The Terra collapse has seen tremendous publicity worldwide. Community member, validator, team member, developer, It is YOUR actions that will shape the future of Terra and Crypto.
Is this collapse a reason for the crypto community to come together and show the whole world that Crypto & Defi is an open, fairer, better way forward?
Or is it a clear message that Crypto & Defi cannot be trusted and should be avoided by everyday people until heavy governmental regulation comes in and destroys the only free market weâve seen in decades?
The power of decentralisation, defi & crypto communities or Bit_connect #2âŚ
You decide, itâs not too late.
@FatMan @admins, Do kwon, everyone.
9 Likes
Agree do kwon is trying to change with the new v2, throwing away a lot of people on v1. Clearly this is irresponsible behavior. If v2 fails then I think there will be v3
2 Likes
well said. We are ONE family
3 Likes
Do is the leader of the community. The collapse of Luna 1.0 was not his fault alone. We should stand together!
2 Likes
The problem is that it doesnât want to be with us
2 Likes
Is there even a far possibility that this can happen?
Also, is there a place where this can be taken seriously and voted to go through?
4 Likes
i shall consolidate valuable comments here and put up a proposal on Station for voting
1 Like
@wz_0 While your intentions are good, the TFL team is broke. It was proof that TFL rebooted Terra 1 to create LUNA2. The team were out of their depth on how to fix distressed assets. In order to do so requires looking at the fundamental pieces and address the issues one by one until the system is balanced which they were unable to do for their whale backers. In order to fix this issue, you need New Moneyâ˘. New Money⢠wants to make money. You suggest TFL borrow money from New Money⢠to lose money right off the bat. How much money do you require to borrow from New Money⢠to repeg the UST? The fact that you are not prepared to answer this simple question is an embarrassment in front of New Money⢠and you will not be granted any loan. What happens then when Short Money⢠keeps going against your loan? Are you then begging a second time to New Money⢠to loan you more money? This plan makes no sense. The UST is destroyed without fundamental changes. Refer to Prop 1691 since now you have all the time in the world to reread the proposal since you quickly dismissed it the first time out of haste for simple answers. Sometimes the simple is not the right answer and this is that time when it is not.
2 Likes
Is there any Idea for pegging again?
I donât know what to do with the remaining ust.
1 Like
I donât think they can do it but it would be nice
1 Like
No need for new money. Money has stepped away from Terra. New money will only come in when this community proves that it can handle itâs own mistakes, find fixes and come back stronger.
FLG can use remaining funds (except UST 1.85b) almost $70 million to buy back USTC OTC and burn it. That would leave about 3 billion USTC in circulation with Terra owning most of it.
Terraâs USTC can be locked for a period of time until the community/devs find ways to start burning LUNC (P2E games, cex/dex trading burns etc.)
Current holders of USTC could be incentivised to lock their tokens for a period of time as well. That takes a huge amount out of USTC circulation.
When LUNC is ready, enough coins are burned and the system is viable again, turn robinhood back on.
Then you can start talking/bringing new money. Otherwise no-one will touch this. Plus Terraâs own USTC that can be deployed in new development and pools.
Proof Of Resilience is investable.
2 Likes
fantastic ideaâŚi support youâŚ
Guys every luna holder has to delegate this validatorâŚthis way ustc could increase is price âŚ
check the website of this validator with the number of ustc boughtâŚ
https://www.terraaventura.club/
you can also check their activity here
https://finder.terra.money/classic/account/terra15gs5cy87n5jxddf4vq94efre9uwkrt9xajzcjd
2 Likes
I am all for the proposal however, following additional steps:
- Burn any USTC held in Terra DAO, committee, etc.
- Every USTC out there, the community pool to have some other collateral. Doesnât just need to be FIAT. It can be funds, investments, BTCs, Gold, etc. whatever others feel relevant. There could be an appreciative effect of diversifying assets.
2 Likes