I think by paying back the damage of a stablecoin, you can help those who have been subject to the high volatility. I’m a Luna holder and it bothers me to be cut off, however, let’s pull up first if you have to wait. But to be totally shut out even after that, no. So let’s think about this recovery in as much detail as possible. Hopefully we will be considered.
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How do we actually vote for this proposal?
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Kwon proposal V2
Suppose people have 100,000UST bought at $100,000
New Coin = 1Billion
UST Supply = 11,278,671,694
Total new LUNA for UST holder = 250million
The share = 100,000/11,278,671,694 = 0.00000886551
0.00000886551*250 million = 8,865.5087
$100,000/8,865.5087 = $11.28
The price of New LUNA must be at $11.28 for break-even the $100,000
With a project without current plan and lockup for 2 years.
People who buy $100,000 @ 0.1 UST get 10x more than you.
You’re stupid not to jump the ship.
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Everyone, my personal belief is that the combination of LFG’s restitution plan and this new token airdrop will be the best way to make small UST holders as close to whole as they can possibly do. The assets from LFG alone is not enough however much more they may or may not be able to add-on to it via charitable contributions of crypto leaders or foundations. This gives small UST holders 2 separate pathways that are distinct in mechanics to restitute our loses as best as possible. The separate mechanics also allows us to have diversity of risk and reward. I for one will be agreeable to this proposal and will be supporting it in any way I can even though I may or may not be eligible to vote for it.
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That being said, we must push for and be vocal about the restitution plan as well and not lose sight of that. This token airdrop is just an addition to what we have already discussed here.
In kwon’s new thread I have pushed this position. Please read it and you can share the same sentiment if you agree.
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I knew this will come. Do is an evil person, many people didn’t know it before. I will sell the new sh1tcoin on day one and run as fast as possible
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what the duck are we supposed to do, buy back or not, i’m so depressed
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We can’t even do that because we will only get 10% unlocked at TGE
Hey FatMan, did you see the last proposal of do kwon?
Hello - how do you account for repayments cohorts at the depeg? There are two cohorts 1) held UST at depeg and sold at a loss 2) held UST all the way though (could have been to support the system, misinformed, blockchain halted so couldn’t get assets out, etc). Without accounting for this, some small wallet holders that sold early at the depeg with minimal loss could make a profit. The amount of recovery should consider current holders first.
Exactly my point. No1 is mentioning this. They’re being lazy and simply air dropping new tokens to anyone in the snap shot and not doing the math.
I hope they do this because it makes literally no sense. Just more LUNA creating value from nothing. Essentially, if they do this, they are going to secure the new luna fails… its literally free money for those people who sold near $1 peg.
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I personally believe that the new Luna would not be very attractive but at the end of the day what are our alternatives. Remember that receiving any token airdrops would not negate our proposal here for restitution. We should push for greater restitution as well as better terms on the new token airdrop. The only reason I see not to follow this path is if you believe that Luna in it’s current condition can be rehabilitated and repaired. I for one, do not believe that. But I can see your position if you did as well. We just don’t know at this point.
Is Anchor part of LFG? Maybe ther funds can be added to redeem the UST holders as well
With his new plan do kwon just made more retail fomo & lose money for whales to exit, what a great day
We should push for 50% of the token drop for UST holders.
No, we will get only new coin.
But his tweet is misleading then?
When UST went below 90c, it was no longer a stable coin and became a gamble like any other coin (Luna anyone?) so people buying at this price in the hope of making a quick 10% on re-peg should not be compensated at all.
Similarly the people who brought Luna in the spiral pretending they were “trying to defend the peg”. Again I call BS on that one - everyone is in crypto to make money, whether it’s moon shots, staking, liquidity pools, modest APY or ridiculous APY so these people should also be burned.
People still in Anchor should get 1:1 at the time of de-peg or who extracted in time from anchor and sold UST at whatever price on CEX should be compensated 1:1 minus whatever they made in the trade.
I see both sides of the Luna argument for the people who were invested at the time of the de-peg. Nobody after that should expect to be made whole for speculating.
I think if you gave most people the option, they would probably wait quite a while to be made whole again but it’s unlikely this will happen.
I still have 72k UST in Anchor and 52k in Nexo (who conveniently have stopped paying 15% APY to “protect its customers” lol) which is worth 10c in the dollar (up from 5c earlier whoop whoop). If I thought I had a chance of getting it all back, I’d easily wait 3 years.
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