It is super important to take into account the time someone left UST from Terra. If someone pulled funds at .95, they should not be given 100% UST value, but 5%.
From the CEX standpoint, that should be secondary involved with the exchanges as they were likely not benefiting Terra in any way
I have withdrawn my support for this proposal if this is true because it shows the whales have exited long enough using the LFG funds. We wont allow this proposal to double-reward them.
https://twitter.com/realPaulSantos/status/1526156044933574656
MASSIVE CLASS ACTION IS THE ONLY WAY, AND THOSE BIG WALLETS ARE TO PAY.
Everyone who is holding either luna or ust must be compensated as of the very time wrt supply they made their purchase. This is more reasonable I think
totally agree fren, that is why I am not too bothered by my luna position (not much) because I accepted that as speculative. what froze me was UST - of course after reading so much more after the disaster, i realised how much risk it was also - too much risk for me to put a big portion of my savings. i can only hope for the best now.
It’s patently absurd if someone is allowed to double dip. Someone who sold at 95 cents shouldn’t get anything frankly. If double dipping were allowed, I fear it would benefit the billionaire friends the most and dilute our shares greatly.
As I read through proposal, whale would not get compensate isn’t it?
if priority is given to the smaller wallets, that should exclude the whales? unless they have already planned it by distributing to smaller wallets before the depeg, that would be an even darker twist.
Definitely, that is crucial or else the whole initiative would turn into a bad joke. No way someone gets back the value of what they already sold, and that will make it easier to refund completely the smaller holders.
I feel you! I am in the exact same boat
i feel you fren. my family almost broke up because i lost a big portion of our savings on something i thought was “safe”.
the proposal is to refund small wallets anyway
Yeah, same here. I should have read more direct information / code instead of listening to others about the risk of UST. I put everything in there…
It seems the ust debacle was poorly handled, thus creating this disaster. And Terra has to be accountable for that. Lives have gone already… This is very serious.
Dear all, we need to work together and be heard. Please in addition to replying here do also use Twitter adding the official CZ and Do Kwon accounts to your tweets.
CZ wanted to use USD 500 million to help Elon to buy Twitter. Those funds would be better spent to safe DeFi (to buy and burn Luna and UST coins).
He would have a massive role in helping to restore trust (Luna was a top10 coin) and return on positive trust for Binance in the crypto space.
Please tweet!
there was a little edition which included the whales but after prioritizing smaller holders. I prefer Class Action suit because it is apparent those big holders knew something in advance and jumped ship.
My little assumption is they might have incurred small loses of 20-25% max.
Worth a shot
i used portal (by wormhole) to wormhole my UST to my eth address, so holding UST (wormhole) up till now. etherscan can confirm that i did not sell my UST.
Even if UST is not at 0 it’s not like the Luna Foundation Guard, guardian of the UST peg, will sell UST on the open market
I lost everything too. In addition to this, there is a war in my country, Ukraine, and now my family has nothing to live on. I trusted the stablecoin, as our local currency is not reliable during wars.
@FatMan I don’t see any fair compensation for anybody at this point. This is absolutely crazy how the team is reacting as they are shutting off a pyramid scheme taking every possible investor cent.
I haven’t moved a cent from anchor even now. I am also providing liquidity on pankake slap, panagolin and trader joe before the depeg. Making useless not only my UST but also USDC. I am completely devastated. Lost everything…
Selling a stable coin not fully backed in itself is a fraud on both UST and LUNA.