thanks for what you’re doing, i hope everyone gets their money back including offchain investors
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That’s the only way to save Luna in current situation. Bring the trust back by stabling the supposed stable coin. Then there could be a chance to burn down the over minted Luna. I’m a Luna holder too. That’s the only hope.
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Guys, this idea is heavily dependent on the state of LFG. Pls, consider discussing BTC LFG funds here:
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Can you make the sheet public? So everyone can duplicate and calculate on their own.
This has issues similar to the original proposal which was revised. To keep things equitable for everyone a flat cap is better so we don’t discriminate between the rich and the poor.
Given that a LFG member directly stated that they are considering this proposal, I believe it is now more likely than not that LFG has a few hundred million dollars in reserves and has access to the money. It would be impossible for them to ‘seriously consider’ this proposal if they didn’t have the money.
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Click on “files” and then “make a copy” It will copy it to your drive and allow you to edit it there
If it’s so, you’re archangel. I haven’t see this statement by the LFG member.
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My bad brother. I didn’t sleep for 3 days now hoping around forum.
Many thanks
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Very well said.
I would add yet another reminder to newcomers that this proposal is not intended to be the end-all-be-all solution to all of Terra’s problems! It is just one step, but an easy, ethical, responsible, and relatively fast way to bring desperately and URGENTLY needed relief to HUGE numbers of people who were given every assurance of stability and safety. The product we deposited our money into was a savings account. Imagine if your bank went bankrupt and people were suggesting your savings should go to the bank’s stockholders. You would be especially devastated because you were sold a SAVINGS account.
It’s the same situation here – UST holders had a very reasonable expectation of stability and fungibility with the dollar, and we want our savings to be made whole in a way that helps the greatest number of desperate people. And even if groups eligible for relief vary in the complexity of their claims, many of them are very straightforward, so we can at least get the reimbursement waterfall going in the interest of literally saving lives, while not ignoring the reality that the Luna side of the chain and what to do with all of Terra’s services need a comprehensive, but much less time-sensitive solution as well.
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Pls don’t ask us to buy back our original UST amounts in order to be eligible for the refund… people can’t afford to risk other money, and many don’t even have enough money left to buy. A lot sold at 20-30 cents, if they buy now a further drop in price would make them rekt.
Isn’t there another way, like a second snapshot to see who sold at what price?
Or, like some said, LFG may sell their UST reserves to bring UST at a price which is affordable for everybody. But I see this more complicated, because a fair price is very subjective.
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I support this. Are we still talking about $50k reimbursement per wallet, or higher now? I personally feel it should be a little higher. Maybe $75k if the funds are there…
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Hey TH, I’m confused with your tiers;
A. Accounts < $100k: $100k cap per address
B. Accounts $100k+: $200k cap per address
Isn’t this just a $200k cap regardless of account size? Every address with <$200k would be fully refunded, yeah? And addresses over $200k get a $200k refund? Why did you split it into A and B?
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$50k is a completely random figure. It could be way higher or way lower depending on the status of wallets and LFG reserves.
Heh, you’re right. Didn’t even think about that.
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By the way, I have received an email from an Investigation Officer who works at the Central Division of the Singapore Police Force asking for more information about the LUNA/UST scheme. I have provided them with more details and I will keep you guys updated if anything progresses on that front, although I highly doubt it.
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Who was the LFG member considering this proposal?
Remi Tetot
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Got it, makes sense. Alright, in this case lets hope we can get more than $100k per wallet. Would be nice and I could see morale going sky high again.
It kills me thinking back on how Alice codes were being handed out so freely on Twitter. So sad that normies got roped into this and put their savings into it not knowing anything about crypto.
If people can’t get their savings back–it’s not only bad for humanity as a whole, but also extremely bad for the future of DeFi from an optics standpoint, and adoption standpoint.
Let’s be ethical here.
I’ve been reading this topic for a few days and I just created an account because I want to personally thank @FatMan for his efforts.
Thanks to this thread I have a little bit of hope. I lost all my savings 18K which was a lot of money for me. As a result, I ended up in a depression. Glad there are people like @FatMan who are so committed to making this a good ending.
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me too i was hopeless until now, although i’m still not sure about how we will get refunded on cex if that happens
What do you mean by ‘discriminate between the rich and the poor’?! The large accounts deposited more USTs to start with, and would only be getting their deposit back, just as the ‘poor’!
The new plan heavily favors the ‘poor’ and discriminate against the ‘rich’.
Accounts around $200k are not whales or ‘rich’. They are savers like yourself.
The labels make me feel like we are both 12 year-old! 
I understand you only have under 50k USTs at stake yourself so you are trying to please everyone.
But your new proposal is overly simplified and unfair for mid-size accounts.
Your oringinal proposal - making accounts under $200k whole - was better.
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