Yes please.
Great idea to help the people that need it. I wish this was getting more visibility.
You are right - if this went to quorum whales probably wouldn’t vote for it. Luckily though (as I understand it), the LFG funds are not under any sort of governance control - essentially, TFL/LFG can do with the funds what they please.
The problem is they have been radio silent about how much is left and what they intend to do with it. I was hoping Do would come on and explain, but he just dropped a really bad proposal about forking the network and left. He didn’t answer the most pertinent question - where is the money?
I’m starting to think that TFL may not actually be interested in making people whole or fixing the situation. Call me a cynic but I think they are choosing to personally enrich themselves. If I were Do Kwon, I would take all the LFG funds including a few hundred million from my personal LUNA profits and I would put it into this proposal. I guess sometimes ethics goes out the window. It is a dark day for crypto and I desire desperately to be proven wrong.
2 Likes
I hope and pray that a proposal like this can pass. I’ve created an account here to leave a comment. I had 100k in UST in Anchor Protocol, and the depeg event caught me by complete surprise. I moved my UST off of Anchor Protocol and to Gemini in an attempt to sell once we repegged, but since then I’ve seen nothing but windfall. I’ve seen some comments here suggesting to take a screenshot of balances at the time of depeg, which I think is fair. This was a very substantial portion of my savings. I vote for and will track this proposal.
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I believe any figure from 8:1 or 9:1 or 1:1 people will be happy overall if they were compensated in some shape way or form from this.
@FatMan, I lost my life saving on Abracadabra money when UST depegged below 0.8 
is there any hope to include holders of UST off-chain in this. Many Thanks.
Sorry to hear that. Abracadabra was a leveraged investment product so I wouldn’t really class it as a high priority if it came to a refund tier list. The risks were quite clear since historically UST has depegged to $0.85 before. With UST temporary depegs were quite expected and Degenbox was vulnerable to that. But again, it’s not up to me, so you might get lucky.
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I agree this is the most rational proposal to save the UST community, and it can be done alongside a solution to stabilize Luna as well.
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Wow, I don’t know what to say, but thank you for coming up with this proposal. It is literally saving lives. I am holding my UST until now even when all of my friends have sold theirs at a loss because I have faith in this project and I am optimistic that UST will go back to $1 one day.
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Correct. We can walk and chew gum at the same time. We need to:
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Expedite a plan to reimburse UST holders. UST is very cut-and-dry and @FatMan 's proposal and the ensuing discussion have correctly highlighted the need for an elegant, expedient solution. Plus, before TFL can make another move, it’s paramount they restore trust. Toward that goal, this proposal would be the most optimal use of TFL funds.
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Simultaneously begin laying the groundwork for a reboot of Terra, whatever form that takes.
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This proposal will save lives, but unfortunately I get the feeling that that’s not TFL’s end goal. Please, Do, reply and prove me wrong. The community implores you.
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In agreement with this plan
Thank you for your reply.
I’m severely hurt by this…
Will never be able to recover.
I’m sure many people were using UST in different protocols off-chain, they are hurt too.
I believe it would be fair to refund small cap users of UST / LUNA (and their associated tokens bluna, etc.) before the de-peg and in all chains?
I 100% support this. It is the most common sense idea assuming we are given a guarantee. I do not mind having any funds locked up either for a period of time. The biggest thing anyone cares about is they get their money from the reserve, and then luna can start over with new investors after they fix EVERYTHING.
Kudos.
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Its great for marketing for the entire ecosystem going forward. At least majority of the retail investors will sure appropriate it and certainly encourage them to stay with this project.
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I bought at 0.98 for example. I think the snapshot should be taken on the day the big decrease happened.
I agree with this proposal for the most part. Please also include those who are committed to the terra ecosystem on L2 (Mirror, Aperture, Mars, Spectrum, etc.)
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I truly believe in this project and this will reinstate credibility for the founders to find the time and space to make it stronger. So there are no no haters taking away resources
@dokwon I would like to hear your thoughts on this proposal. And please remember, you promised that LFG funds would be used to protect the peg, so it’s your duty to explain where that money went and how much is left. Please read the replies on both proposals (yours and mine) and do the right thing here.
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What about the people who moved their UST to exchanges to escape the absolute siege warfare style economic collapse of this supposed stable coin? How do we get reparations for our funds?