We have replied to this question many times, please read the thread!
just state it coz the thread is too long
That is true, but my argument would still hold: It is the fairest possible proceeding they can expect. They end up with a loss, depending on how long they held until they sold, BUT they do end up with a smaller loss than what your initial proposal entails. It’s important that nobody profits from this whilst trying to make as many as possible as whole as possible.
What do you think about my second proposal giving Validators and Protocols a thank you and a light of hope @FatMan?
A note on credibility since it has been a theme in this thread.
I feel comfortable posting this since it’s not a random conspiracy theory (this view is from Larry Cermak, VP of Research at The Block).
Apparently Do Kwon claimed he raised $300m from Binance. CZ denied this. There have been a lot of listing shenanigans going on on Binance with LUNA/UST in the past few days. There was a massive rush of buying power into LUNA at around the $1 mark which some theorize was a portion of the BTC reserve being deployed as exit liquidity for a certain large player or VC who was in favour with Do Kwon.
Is this why LFG is reluctant to share the transaction history or trail of where the funds went? Maybe. I don’t know. I’m just sharing things that people smarter than me believe.
This also ties into the discussion about using exchange data to verify claims. It further strengthens my belief that for the first refund tier we should stick purely to verifiable on-chain data. You really can’t trust anyone these days.
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The only way to save this is saving terra and all holders and using a slow emisión of new token (according with the snapshot). Not only saving UST people, it will only fix UST holders but it will destroy all the ecosystem.
For reasons I have explained multiple times throughout this thread, I don’t think any money should be allocated to LUNA revival.
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If there is a class action, I want to be part of it.
We have to be organized.
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I strongly agree with this idea !
Luna holders can be compensated by distributing
40% of new tokens which should have given to UST holders.
Moreover, UST holders are compensated by 1:1 exchange to USDC or USDT
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Follow FatManTerra on twitter so we all keep in touch!
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Now, Do Kwon is live streaming.
But, the title of youtube streaming clip is “Terra Luna CEO Do Kwon Liv- UST will repeg and LUNA $1 per LUNA next Week - BTC Treasury plan”.
It seems that Do will start LUNA version2 plan.
Do does not mention reward plan consideration such as USDC.
It seems that Do is still dreaming governing LFG and make new business.
I do not want Do Kwon operate LFG and UST and LUNA policy.
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A lot of people buy UST as a stablecoin they need steadiness that 1UST=1USD. They don’t want to be in pump and dump cycle.
If they can do that, they rather trade not saving on Anchor.
This proposal combined with less% luna in the fork proposal together can make luna survive, i would definitely buy new luna if i get compensated for my ust. Cuz i know the ecosystem and the value it holds.
Yes! I agree with this. This is by far the best solution i have heard to help mitigate the massive loss to the community
I think the compensation for users are good.
Luna Revival could be a Luna 2.0 where its recreated with more safety in mind and new institutional investors. A rebirth if u will, but 1st the old users that needs to know LFG got their backs and they will back the next iteration of Luna cos the ecosystem is great and should not just withered off
@FatMan I am not talking about Luna revival, I don’t know how you come to that understanding from my proposal. I am talking about reimbursing validators for their costs and giving protocols a small runway to migrate to other chains. They deserve at least something, even more than small investors in Anchor.
Let me quote it here for visibility:
2. Include Validators and protocols . Whilst I agree that Luna is a specualtive asset, we should include the people that gave their life to build on Terra some money to survive until they figure out where to go next. Validators have real cost, protocols too. Many of them decided to keep their costs up during the meltdown just so we could withdraw our funds like bAssets to other chains and keep interacting with the network. They are most likely to have had huge amounts of their wealth in Luna. So while it is a specualtive asset, we should see that those are the people hurting most and the people making this discussion even possible in the first place by keeping the network safe and running even during such times.
So my proposal: Give protocols 10k UST per employee for like 2 months runway (which is nothing). Give Validators that are still up and running 5 UST per Luna or something (someone would have to run the numbers). Give Validators that turned their nodes off 1 UST per Luna. With some upper cap of max UST.
No, he’s not. It’s a scam designed to get crypto from you.
All of the streams are prerecorded replays of the same interview from months ago.
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This dude is living in a different universe lol.
The ecosystem and the apps only work because of $UST not $LUNA.
- Anchor- Borrowing and saving $UST
- Mars - Borrowing $luna and $UST
- Terraswap/Astroport - exchanges for various assets with $UST as a baseline
Without $UST, there is nothing.
I’m not telling to rescue the full value of it. Only to take a snapshot on that time to know who was a real lover of this project.
The value should be less. Maybe 10% or the money who we have.
Also, the most important is an slow emission to avoid selling.
And, about UST. This should be minted with collateral. Combination of USDC/USDT/BUSD and also BTC (but using some algorithm to reduce a bought when BTC has a high price and buying more when it have months in a dip (maybe like now). Also, it should be a % like now, using LUNA.
But we need to rescue everyone, not fullest but maybe a symbolic portion and rescue all the ecosystem that we had.
Validators and apps that are seed-funded by VCs should be saved more than a person who just deposited their 10,000 life savings in anchor??? are you drunk?
Oh, is it?
I did not know the fact.
The Youtube’s title icon shows “LIVE”. So, I believe that it is live streaming.