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

Well he suggested Burning it also. So…

I wish he had small bag Luna holders on his mind too. Even tho the bag was small the money for it was not.

I don’t know man. If he wanted to run away, I think he would have done it already. Or he would have tried to run with the 500 million he gave to anchor. I think the do kwon proposal and the UST refund are unrelated. On the FLG twitter they said they were going to implement something like fatman’s proposal. Then they retweeted Kwon’s stuff. I think they are still working out the details for UST.

Maybe they’re actually trying to figure out who the attackers were first so they can blacklist them first. Plus there are so many pros to refunding people on the new network and so many cons trying to do it on the old network.

For instance the guy who just didn’t want to see the anchor stuff may have just turned off his computer and won’t log in and read that he’s money has been restored for like a year. They need to keep that stuff redeemable forever. Best to do it on the new network because the block producers on the old one have no incentive to keep producing blocks on the old network.

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Did you have your luna before or after the peg crashed?

If you had it before the depeg, everyone in that group gets something. If you had it after, I think those ppl get 10%. There is a horrible spot to be in if you bought as it was crashing at like 60 bucks or so. You’d be put in the same group as the people who bought for .000001 cent

trust in the crypto market is everything, when you lose it you never get it back and your name is tarnished forever.

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we need everybody’s input on this poll. no need to wait for V2 proposal publish

Bought for around 20000$ at 34$ on the 10th, worth like 0 now, and bought more for like 11 dollars when it was below 1 dollar on the 13th 02:01am Europe time.

Edit: I had no idea about the peg thing going on till much later. I just saw a dip bought and planned to hodl the most.

Sounds like a plan!!!

I use to be against the fork until I really thought about it. Luna needs to get rid of the current version of UST and make something with a basket of stakeable currencies. Kind of like maker. You don’t want to just give out bonds esp to the people who held UST from the start to the end. You kind of want everyone on board on day one or at least most everyone. I’m left out but hopefully I get a bond later or something. There’s also a limit on how many 0s you can have after the “.”.

I think the solution makes everyone unhappy (especially me) but I guess it’s a good compromise if I put myself in other’s shoes. Everyone has a “chance” of being whole… well except me unless they make bonds or something. Yeah I think I might be out of luck here

Edit: yeah maybe i’m still kind of against the fork… I guess I’ll need to revote if I change my mind in the next couple hours

It was 4 zeros after the dot in my case, that is when I bought with my last money like 11$. So they set a limit to when people bought too? Wow

Ouch, that seriously hurts. The new luna would need to be very popular for you to get everything back. 10%, but you get to stake / use it before the old luna ppl get in with their 35%. I can do the calculations for you. one sec

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It does. It actually is aching my heart, literally. Thanks I appreciate that

Thorswap Asymm UST LP didn’t allow to withdraw as they say Terra blockchain unavailable. I am guessing this plan includes those invested in Thorswap LP correct?

market cap is 1,332,589,022 so you own 11/1,332,589,022, so about 1/1,000,000,000 of the new network. at 34 dollars, I think you’d need luna to be 34,000,000,000. if all the other values of crypto stay still, it would have to be #6 on coinmarketcap.

Thing is, since people get their luna at different times, if it hits less than half of that within the first year, you’d also be whole. so 17 billion which is still number 10 on coinmarketcap. It could happen. If you straight up hold and stake for the first year, that reduces by 8%.

still possible but unlikely as the new network will prob have a bad rep for a while until they can get a good / stable anchor / maker / dai thing going.

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I own 400 token at 34 dollars. and 48400 tokens for 0.0000something dollars. So totaly 48800 luna tokens. Saw you wrote 11. Or is it supposed to be 11? (math is not my strong side)

If it’s on the terra blockchain probably. If it’s on a different blockchain, maybe? There’s no hard plan out right now since LFG rejected fatman’s proposal but I think they said they accepted the spirit of it. On twitter they just say they want to make the smaller UST holders whole again with the remaining money earmarked to peg UST. https://twitter.com/LFG_org/status/1526126719874109440

They said “smallest wallets first”. To me that means some kind of bond for the larger holders? not sure what they mean by “remaining users”.

oh my bad, I read your numbers wrong. one sec

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48800 tokens and there are 6,907,376,873,282 (conservatively)
you currently own 48800 / 6,907,376,873,282 of the current network.

div by 10 because current holders only get 10% of the new network.
4880 / 6,907,376,873,282
You need 20000 dollars?

new luna marketcap * ur ownership(4880 / 6,907,376,873,282) = 20000
20000/ (4880 / 6,907,376,873,282) = 28,308,921,611,800
28 trillion dollars, or half that within a year, 14 trillion. current market cap for btc is 570 billion

Unless they put out a bond or something for people in your specific position, I don’t think it’s going to happen unless my math is wrong again

like 400 bucks is doable hmmm maybe you’ll need to use the defi on the new luna or something to get the last 5x

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this airdrop thing is a big joke if they don’t consider the supply at the time people bought to make it more proportional

Thanks for all your work FatMan.

I understand the complexity of trying to come up with a fair distribution. However, making people that sold close to or well below peg, buy back UST to then redeem it for USDC will create winners and losers as well. I think a set pay out per UST held at the snapshot is easier and just as fair/unfair.

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