[Proposal] Tiered repayment: 1:1 USDC refund to all UST holders up to a certain cap per-wallet using LFG funds, favouring small wallets

@fanatec Do kwon, tgl lfg are the only ones who does us want to go to hell with their greed. Thats for both luna and ust holders. They kept or sold the majority of the btc reserve 3.8b to themself or they whale buddies.

Less than 2 percent (80m) is left for 99 percent of the users. And even out of this tiny amount 60 million is locked

I think Fatmans proposal reading the comments was also meant to help luna holders by creating trust back into the system by compensating ust holders and then focus on luna holders. (I think it was also meant as one measure out of other proposals, just as a first step)Ust holders do not deserve to get rekt as someone who did not invest in a stablecoin. However luna holders should at least be made partially whole as well. Do kwon enjoys pitting ust holders over luna holders to distract where the btc reserve went. We should not fight to get 0,5% back. Better to unite against do kwon, tfl, lfg. Let the authorities freeze their assets, investigate the btc reserve and then there is a chance that we get more than breadcrumbs

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why is it using 2022.05.07 as the snapshot - when people made deposits late 8 may? Are those not UST they had to swap into? was not the attack during 9 may or so? why so inconsistent, just like his misleading tweets?

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I thought you said people were saying NO but the vote seems to be in favor of it. What proposal number were you looking at?

Any update???

Very good


LFG | Luna Foundation Guard


@LFG_org

·

May 16

10/ The Foundation is looking to use its remaining assets to compensate remaining users of $UST, smallest holders first. We are still debating through various distribution methods, updates to follow soon.

Is there any information about this?

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vote
go to terra station, under governance

@fatman I absolutely agree with what you said. but I think these procedures should be continued as follows.
1-Definitely a small investor like me should be protected. I deposited $600 but it was all gone for me. Maybe too small for them but TOO BIG for me. My savings without spending months. (I’ve been depressed for days, I had a fight with my family, I got depressed, I thought about hanging out rope)
2- As you said, there are many people I see and hear who hang with a rope.
3-First of all, all transactions should be stopped in all markets and agreed with exchange companies, and the price of the first UST and Terra purchases between certain dates should be returned to the users.
4-If there are second or more purchases in the same wallet code, excluding the purchases, they must be refunded at the price that was triggered.
5- If they continue to apply what they know, trust in this market will be over

Posted this last night in the other thread. Thought, maybe I should share it here too…

Probably only a few, if any, people will end up reading this, and from those that do, this will surely garner lots of anger and hate, but from one loser to another, I think it needs to be said… or written rather.

I’ve been here for about a week now, waiting silently in anticipation of what DK and TLF decide to do next with Terra and Luna, slowly reading the comments and updates and alternate revival plans, and the whole lot… and I must say… it is so very disgusting on so many levels, for so many reasons. It’s really sad to see how materialistic we’ve all become - some of us talking about ending our lives or how life is over due to the losses - others foaming at the mouth with seething anger like an angry mob taken to the streets calling for blood - and yet, a whole lot of others who clearly have no clue what they bought into, “believers” who blindly followed their own greed and lust for riches, filled with dreams of living the lives of the people they worship on social media. All the while, of course, blaming everyone else but themselves. Pathetic. Shameful. Utterly pitiful.

This is not a defense of DK. If he has violated the law, then he should be punished to the fullest extent that it allows. But make no mistake, DK is not the reason you or I or anyone else invested in the now failed project of TFL. It was YOU. It was ME. It was YOURSELF. The man, however much of an arrogant pr!ck he may be, didn’t FORCE anyone to invest. He created and presented a financial product that provided high, short term yields, but ultimately proved to be unsustainable. NO promises were made, not anything with any legal merit anyway. NO guarantees were made, which is common in the DeFi/Crypto space. And most importantly, this was never a NO RISK investment - ALL investments carry risk especially in the crypto space, and if we didn’t know that or were not okay with that, we shouldn’t have been investing in the first place. Despite all the NOs, many of us chased that 20% stablecoin yield - algorithmic of course, not collateralized with fiat, nor with cyprto, nor A N Y T H I N G. Were we in it for the yield, or because we believed in TFL and DK? Maybe both, but other stablecoins like GUSD are fiat collateralized and backed with insurances for your deposits… maybe it hasn’t taken off like UST did because the yields are only 7%? Too low right?

The sad reality is our greed brought us here. Plain and simple. And our greed is why we are still here. Greed is why many of us continue to howl at the moon hoping, praying that new investors will come and bail us out of our poor investment by financing the popular burn recovery plans. Greed is why we didn’t take the 9% loss during the rally after the initial de-peg. Greed is why we emptied our bank accounts. Pride is why we can’t admit to ourselves, our families, our loved ones, our community, that WE ARE TO BLAME for the mess we are in. Pride is why we blame DK instead of ourselves for investing so much more than we were willing to lose. And most disgustingly of all, Pride is why we want to see the kid burn… believing that it will somehow justify our own lack of responsibility.

The grim reality is, everyone here is a loser. Terra and LUNA will, in all likelihood, never make its triumphant rise from the ashes. It may recover, but not a V shaped one like everyone is hoping for, and not anytime soon. We need to be real here, this is the end of the Terra and LUNA ecosystem as we knew it.

But is it not the end of us. We are, so much F-ing more than our money, than our bank accounts, our cars, our houses, our suites, watches, ties, shoes, and everything else that money can buy. We may have to change our lifestyles for a bit, but that is the result of the choices we made to dive into uncharted territory with cyrpto and DeFi. If we are true believers, that so many of us claim to be, I’m sure we will meet up again in a different project down the line somewhere. One that has found success in our failures and wisdom in our shortcomings. We too must learn from our mistakes and become better, wiser, more headstrong investors, but to do that we must take our losses and move forward.

Tonight I’m gonna go hug my wife and kids and thank the stars above that I am able to so do. When they wake up, I’m gonna tell them sorry but I F-ed up, and that I’m gonna do everything I can to do better. They’ll forgive me or they won’t and that’ll be my cross to bear. UST and LUNA may not be the Phoenix we were all hoping for, but that doesn’t mean we can’t be. Greed and materialism is making this place… US toxic. I said it once, and I’ll say it again…

We are more than our money.

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Which one brings continuity? ;
millions of investors?
a few big investors?

Can banks, stock markets, companies survive by serving multis and whales?
they need to think very carefully about the consequences of this.
nobody needs crypto, but crypto needs small investor

I will keep this brief because I’m juggling a lot of things right now, but please keep in mind things like a) the mechanism that was supposed to support UST’s peg according to the whitepaper was deliberately turned off, b) Do Kwon made specific claims and misrepresentations on Twitter during the depeg such as “we’re going to work on collateralizing UST”, and c) specific representations were made both by Terra and a few exchanges about expecting a stable, fiat-backed value without the correct risk disclosures. I would love to elaborate more but there are some things I’m not allowed to say. I really could go on for an hour.

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Voting is internally manipulated. meaningless. Completely ignore the voice of the community. 90% of investors in the community. Want Luna to stand up. And you don’t give hope to the community. We don’t want to fork, we want Luna now. Burning. Stand up again. We believe Luna can. Because even if Luna has been attacked once,. But there is still so much consensus. Even higher than the previous Luna consensus. We all have confidence. Why do you really have no confidence. They created Luna 2.0 to escape legally. Luna has been abandoned., The first project failed, directly abandoned and forked. Change your name. No one believes in the second project. The second project failed,. The third project,. There is no point in publishing here. Completely ignored. We appeal. Everyone posts on social platforms. And comments. forward. Disagree with bifurcation. We need to burn. Only in this way may he change his mind. If you still go your own way. We can only take up legal weapons

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I don’t understand if he is trying to destroy the trust of the entire crypto market, not just luna

‘LUNA exists to keep UST on peg’ is a patently incorrect premise.

You could as well say ‘UST exists to attract investment in LUNA.’

Terra marketing language aside, in fact the collapse event demonstrated the de facto entanglement.

How about you go read how the burn mint mechanism works first buddy. Then go around telling people they are wrong.

Agree here

What’s right/wrong to do now is a much broader issue than the burn mechanism. Isolating on that is a scale error. That’s my point.

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In which jurisdiction is Do Kwon and TFL legally liable for their words? The conversation has shifted to the Luna2. We need to bring the focus back here.

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@S.A.L.T Do Kwon is to blame for this not its users.
He did not use the 3,9 billion to defend the peg as supposed to! He sold it to his whale friends or to himself (OTC?) instead of stabilizing the market.
Appearently he turned of the meachanism to keep the peg see some post above from Fatman.
UST and LUNA holders are the victims.
If Do Kwon had used the billions correctly and did not manipulate the mechanism everything should have worked. There was 30 billion luna marketcap as well besides the 3,9 billion reserve money he had.
Still until now he keeps scamming its users. Ignoring the voice of its users.
Quote from someone else:
“in the first vote majority of people and holders have been voting no for the proposal but do kwon didn’t feel good with it and he was doing another shady thing like changing the mechanism. That’s only holders that can vote and voting power also based on how much luna owner by voters.”

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Just one question. In that forking proposal (not Fatmans proposal) it says
Pre-attack aUST holders: 10%
Why does it say aUST and not UST holders? Are pre depeg UST holders excluded?
I am holding my UST still at CEX by the way.

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