[Proposal] Tiered repayment: 1:1 USDC refund to all UST holders up to a certain cap per-wallet using LFG funds, favouring small wallets

@FatMan 100% agree please save us…we are poor people saving our money in UST in anchorprotocol…my whole money in life is 12.5k ust and now i have nothing do somthing for us…1:1 convert sound perfect i dont want yeild

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Agree

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Let get this done, most logical proposal, is there a voting yet?

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I do understand you and person who sold their UST during crash.
Think about people who have to pay kids and loan, just after the event.

Everyone have a bad time.

Do they trust UST to keep their wealth to put all the money in it> YES!

What is considered to be the exact date and time of the depeg?

I have seen different times offered up in different threads and want to confirm.

Thanks!

Hello guys,
I think this is a good idea if the numbers do pay out (and this LFG fund actually still exists). However I would also say that we should also have a remedy plan for the “whales”
i’ve described a realistic solution for them here, have a look:

Folks, FYI: voting here or using the on-chain governance mechanism is irrelevant to this proposal.

A proposal like this can only be enacted by TFL unilaterally because it concerns their funds. And they will only enact it if they:

1. See it, first of all!
2A. Understand and agree with the reasoning behind it voluntarily, or
2B. Are pressured by enough people or by law enforcement.

Continue getting the word out. We already have support from @cz_binance, @VitalikButerin, and @Maxwell_Maher. Voting here or in Terra Station is irrelevant to this. We have to make TFL acknowledge us and acknowledge their responsibility.

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“It is clear that LUNA cannot be salvaged”

Opposit is true, Luna van be saved, terra I dont know!

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I also lost all of my money in luna. I only have $3 in my bank account now… Do you feel my pain too? My sister is pregnant and I can’t even buy present for her baby… I thought of committing suicide but I gave up doing this for her. I applied for a lot of job today and I hope i will find a job and buy presents for her baby… Whatever, everyone has pains here and everyone who lost money is equal. Not only ust holders lost their money, luna holders also lost their money… Please understand that

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@stablekwon @terra_money
Proposal
-Refund all small UST holders through LFG holdings (this is possible as the bottom 99.6% of all Anchor wallets held $1.46 billion)
-Give UST whales and Luna holders a new network token based on their value in holdings before the depeg

This will:
-Make nearly every UST investor whole…
-Send a strong message that Terra cares about the people who actually used the network
-Spur goodwill for the network and increase the odds people invest in a new token

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You’re a great guy. I think this post should be inserted as a conclusion to the first post. Perhaps he will awaken people’s conscience.

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This needs to happen. Please, LFG…make this happen. Do the right fucking thing.

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I totally agree with this proposal. I think it’s the best and fairest way to repay UST holders. When could we move on with this to make it happen? We should move fast

Yes, the problem is, terra holders left 1/10, Luna holders 1/100000…

Lest move on with this @dokwon @dokwon.terra

Yes, I do understand you.
What I’m trying to say is

LUNA is not stablecoin price can goes up and down.
UST is a stablecoin.

When UST doing good why UST holder have no capital gain but LUNA holder got a lot 2x 5x 10x.

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We cannot hold a vote on it through the Terra governance mechanism, because it does not concern community funds. It concerns TFL/LFG/DK’s funds.

The solution is to get TFL to enact this proposal unilaterally - they are the only ones who can do it.

The options then are that they act voluntarily to do it, through social pressure, or are forced to, through pressure from law enforcement.

We can build pressure on them by sharing this proposal on social media. We’ve already earned the support of big names like CZ of Binance, Vitalik of Ethereum, and Max Maher. They all agree something like this proposal is the ethically and legally right thing to do.

Share it on Twitter, etc. Reach out to influencers and luminaries in the field. Reach out to TFL directly. We have momentum. Just have to keep it up and it’s going to take ALL of us chipping in how we can. But on our side is the knowledge among small and big players alike that this is the right thing to do.

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This proposal is a slap on the face to all Luna holders and punishes especially those who tried to save Luna during the crash. A successful proposal MUST be fair and should take into account both UST and LUNA holders. I also know individuals that invested a major portion of their life savings on Luna and now are absolutely devastated. Leaving them high and dry while compensating UST holders will diminish public trust in cryptocurrency industry. UST holders also took a risk when they were looking for that crazy 20 percent interest.

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I have it all on binance. Praying a solution is reached as I couldn’t bring myself to sell and take the 1200.

Another wholehearted agreement here.

I was heavily invested in both UST and LUNA and knew the difference between the two.
This was not a back-alley project. Anchor and UST were appealing precisely because of the relationship between risk-on and risk-off, and the big names and money behind the whole ecosystem.

A failure to compensate small holders would send the entire crypto industry back. I personally would simply dismiss the industry as the same old corruption in a new package. I hope the bigger players in the space factor this into their decision matrix.