Confidence is the only currency that can really underpin trustless environments. By definition.
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Agreed!
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لقد تدمرت حياتي، انقذوني
luna listed at .06
Yeah. But i dont think we need to do the buyback and swap but do the airdrop from snapshot. otherwise you will hurt people. read other replies.
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Over 50 police reports have been filed against Kwon Do-hyung with the Singapore police.
He is still posting on Discord today.
Knowing Singapore, I’m amazed he hasn’t been taken into custody yet. He must have some friends in very high places. @FatMan
Greed can overpower uncertainty, eventually when everything is running smoothly, it will return to normal.
I think Luna and Bluna holders should also being compensated. Sure buying Luna is a risk because a cryptocurrency can go up or down, but this was very extreme. On the other hand having ust and ust going that far off pegg isn’t normal either. But ust holders could have taken insurance. We have all lost very much. We shouldn’t exclude groups from compensation.
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It really is quite incredible to me that he’s not in some form of police custody. I’ve seen people in Singapore arrested over 20-30 SGD.
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Just send back and you are done
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This is a second step as explained many times!
Stupid plan. So this plan is purely to help the smaller investors who invested in UST. Ok , and after? What about all those LUNA holders? What about the whole project? This “plan” seems to only help certain amount of people without helping the whole project and even so many LUNA holders. After this plan happens, project will likely be abondoned. Is that what we want?
The only way to go to is to do a burn to create more value for LUNA. It will eventually help restore the peg to 1$. After that patch, redo whatever you need to do to prevent the UST from depegging like that again.
Even CZ binance says the same thing. Obviously he knows what he is talking about.
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they probably know he is likely to be involved in a recovery plan.
Still don’t know of legal precedent to arrest him.
they don’t care, just want instant money
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Can only users who have deposited UST in Anchor get a refund so far?
I withdrew from Anchor after the UST was depegged, but I lost 95% of my property.
thank you for keep us updated.
Be sure to let them know we absolutely don’t give a f. about the new luna v2
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You would have to buyback and send your funds back to your wallet, please read the thread carefully and to all interested people I would suggest to follow @FatManTerra on twitter, to communicate easily
What scenarios are is in vs out of reimbursements will be an important detail to be clear on. Some more detail to a few common scenarios for community comment:
- LP’s including UST
Ex 1: LP has two UST derivatives. Ie. aUST/UST or kUST/UST. Should we include both “sides” of the LP where both sides are UST derivatives?
Ex 2: In some cases UST is pooled with another asset on Terra network (which also when down in value due to depeg). Ie. ASTRO/UST or ANC/UST
Ex 3: In some cases UST is pooled with another asset off Terra network.
- Include both sides of ex 2 & 3 (UST and non UST asset), or just the UST side?
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UST staked in Pylon pools. These essentially work the same way… stake your UST which is protected (and locked for a period of time). Earn yield in the form of another token for a project that is launching on Terra network. Once the lock period ends, you get back your UST investment.
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Terra native assets/tokens priced in UST: All Terra native assets (excluding Luna for the purposes of this post) went down in price during re-peg event. Many were hit twice… both down in price in UST terms + hit with the 90%+ depreciation of the UST price itself. While it is reasonable to conclude that an investor choosing to speculate on an investment like Astro, ANC, etc. accept the risk of loss due to price depreciation on the asset, I do not think it’s reasonable to extend that same assumption of risk to the underlying stablecoin depreciation risk (90% loss). They are two different risks. Take Astro as example. Right now, it trades at .90 UST, from it’s highs near 4 UST. A loss from 4 to .90 UST is one type of risk (commonly assumed in speculating), however, the loss in value (relative to stables or USD) of the UST from being worth .90 UST to under .10 USD was not commonly expected. While we may conclude that those who speculate in such assets are of lower priority than those who never ventured out into Terra ecosystem outside of Anchor Earn, I think we should be thoughtful of the fact that the purpose of UST as a stablecoin, and Anchor Earn was to be the gateway to these other Terra native projects. The longer an investor was invested in Anchor/UST, the more likely they were to venture out with a certain % of their investment. If we do not include these losses, we may be weighting loss recovery to newer investors over those invested in Terra longer term. We should consider including losses (at least those due to the portion of the loss due to depreciation of UST) these investors shouldered in these other native assets with a similar cap structure as UST/ANC proposed. The priority of these should be second to aUST/UST holders/stakers/LP’s (above in #1 & #2).
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