no.
Apparently, ~200m left (search @LFG_org on twitter for the pinned post made roughly 22hrs ago.
so it’s not going to be bailing out wallets with <250k.
It is likely wallets less than <50k
It’s over guys… The reserves are too low (assuming LUNA and UST are worth $0), and AVAX, the largest holding, is locked for 1 year. This leaves only around $20m. At this rate, only a cap of $500 or $1k can be paid out to small holders of UST - bandaging a broken dam. All others will be forced to eat a huge loss. At the rate it’s going, Do’s ‘revival’ plan is likely to go through as it seems that most of the validators are on his side.
Take the loss and move on guys. This project is dead.
I agree with fatman and CZ.
Forking and removing UST, only cuts out a sick portion of Terra and removes what made Terra so attractive in the first place.
UST with its 18 billion USD market cap helped Luna grow.
But the broken system and Kwon’s hubris broke the stablecoin promise.
If Kwon were interested in the community, he’d help restore trust first, then let the Terra earn its value.
Is Terra better off and more valuable without Kwon?
Only trust and actual utility can restore value.
Fool me once is enough…
People forget the purpose of LUNA is to maintain UST peg.
LUNA benefit from growing volume of UST and all LUNA holders have been getting massive windfall over the last 12m and had plenty of time to take profit.
LUNA start from ~$1.3, it dropped to ~20c, then over $100 and now to $0. All this time UST has been $1 (less those past de-pegging moments)
All UST holders want is a price of $1, not above $1, not below $1… exactly $1. UST holders are not HODLing UST because they think it will go to the moon… they are HODLing because they know it will stay at $1 (at least we all thought). UST only want UST to always equal $1 and their ~18-20% yield… it’s exactly like your savings account in the Bank.
In Terra, people really have no choice as to park their $ in a stable coin except for UST and people park it in UST because they want to be ‘risk off’. people park it in LUNA because you want to be “risk on”.
6 Likes
Paper hands cannot be rewarded. Diamond hands must be taken into account. The first sold and left the project. The latter are faithful to Terra and remain in Hold.
#CommunityIsMoreThanTerraBurnNoFork
2 Likes
Does anyone know if TFL will still get these loans back? (maybe @FatMan)
Especially $750M worth of BTC?
Good read
6 Likes
unfortunately, these funds should be gone by now…
i like this proposal i have all my savings in anchor… it was supposed to be stable and not supposed to be a risky investment, the money should be used to pay people instead of making a launch 2.0 that benefits the image of Dokwon and risks our money once again to receive a 30% of the amount invested by us…
how do i vote
4 Likes
I support this proposal
That’s exactly happened to us. We had been a luna holders for a long time. And never took single penny. We bought luna on the way down in hopes that luna will never fail. But who in a wilderness dream though it will be a 0 in 2 days. This pain is unbearable and it will last for a long time. Lost $135,000 investing in luna.
Has anyone proposed this on-chain? I’d vote for this.
What i not understand, where is all the reserve money gone? Before the attack they had about 700 million ust, after about 1,8 billion ust. The maximum they could have spent ie 1,1 billion usd. Considering that the price went below ust and they propably had ust privately, they even spent much less.
3,9 billion -1,1 billion is still 2,7 billion. I know they bought some 224 million luna, but those are currently only 34k worth and not 2,7 billion.
With that new sca* proposal of do kwon, he is further scamming. People who buy now at 10 cents get the same amount as someone who did hold before depeg.
Does that proposal replace or add to the lfg plan to compensate small ust holder?
at this point maybe it’s better to avarage down the entry price before the UST price goes up near the 27/05
I know it’s risky, but $1 break even point will be never achievable with the fork.
I would buy the same amount at $0.10 and have the BEP almost halved from $1
When i ask any queation about the reserve my question gets immedeately deleted at telegram. They are censoring messages that only positive messages get trough
You should wake up. He doesnt care about you and doesnt read anything here.
His proposal is already accepted. The voting and stuff is just a show…
For a collective lawsuit:
3 Likes
is this proposal still being considered?
What about LUNA holder’s. Not a single point is mentioned about that. I’m 99% down with LUNA (if required I can show proof) and I assume that there are many like me. I became greedy when price fall down but no one was aware that LUNA going to touch close to Zero. Please help me n others to get back to normal. Since last week I’m worried because of this crash and it’s getting tougher.
Why is this proposal not in sticky yet? The only proposals in sticky are the ones from the Do Kwon to give them more visibility. If this forum is to inform Terra users about the proposals, then please also put Fatman’s proposal in sticky too.
If you don’t do it, you’re just trying to manipulate the votes.
4 Likes