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

Terra Daily on Twitter is supporting your proposal just now @FatMan @dokwon

but I want to prioritize restoring people’s savings first.

@FatMan Yes, that includes validators and employees of protocols. They are people.

Sorry but that’s just wrong and naive.

Yes, people lost money on LUNA - I understand that.

Let me rephrase this, there are 3 types of actors worth saving: smallest UST holders (including anchor etc.), protocols and validators. Forget about the Luna here completely.
Your proposal covers the first group. It’s easy to add e.g. 5k $ reimbursment per employee for each protocol that lost everything (to have runway to figure things out) and 3k$ for each Validator that kept his node up and running (to pay for cost).

I mean do you people even realize what would have happened without the Validators being such stand-up guys? The debacle we would be in now would be 100 times worse.

We’re all in the same situatin mate

what about $Luna and Luna derivative holdres? will they be compensated? If Luna holders are not taken into consideration, this is a incomplete and one sided proposal.

Very cool! That’s huge, thanks for sharing.

3 Likes

100% support. But could you pls explain how will I get my UST in Anchor refunded?

best proposal so far! I agree on everything. and the remaining funds could be used to collateralize ust and try to bring it back to stability!

@FatMan is it officcial acount?i mean terradaily twitter acount

1 Like

It’s not TFL, if that’s what you’re asking.

Be gone vulture.

Why calling me that xD Did I hurt you in any way?

:sleepy: bad news…

$200?

WOW we are really getting there! guys keep it up! Let’s make it happen!

For LUNA holders, this is just a first step. Fix UST first, then LUNA might recover the trust once again. This is the best and only solution.

please tell me, if my address was compromised, i passed the seed to a hacker can i get the airdrop and swap the tokens the second it happens?potential refund UST to USDC

@fatman just for visibility of this issue;
Recommendation / ask:

  • In your ‘Edit 2’ about UST in LP, please add that UST deposited in vaults (like Kinetic’s and Mars’ vaults) will also count as UST for the vault depositor.

Rationale;
One issue is that large wallets might be aggregating many smaller depositors. Examples where the balance of the depositors should be considered;

  • Kinetic’s vault – refunds should be made to Kinetic Vault depositors
  • Mars Protocol’s vault – refunds should be based on Mars UST depositors

There might also be large wallets that aggregated accounts for users off-chain, like Celsius or other web2 apps that offered high rates based by depositing user funds to Anchor.

don’t spam. you are hurting your idea by doing that…

If your seed has been compromised I would not recommend transferring assets to that address. It would basically be a bot on bot war and yours probably won’t win.

but the snapshot of my tokens before they we taken right? they’ll appear on the wallet address if the refund is implemented as outlined.

@FatMan is there any legal that we can use?nobody reapond to us ?i think they dont want do this proposal