@FatMan I think those who held their UST until the end, should be prioritized to be made fully whole. As who panic sold not only helped it to sink even more, these people will end up profiting from this (selling at 0.50 to rebuy at .15). Otherwise, those who held until the end will probably be sacrificed if the LFG reserves are not enough.
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- We answered the same questions many times, you can check some post above! Sorry for not repeating
- It would depend on the implementation, but if you have to prove it’s your wallet, you will probably need your keys. Who has the key could do that for you.
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Thanks for replying. I’m trying to read all the posts 
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In my opinion this could be another priority among the priorities, if there are no funds for everybody, let’s see what FatMan thinks about it.
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By dead, I mean it will be hard to use monetary methods to recover the savings of people that bought at proper prices (say, the $30 to $120 range). Yes, LUNA will now become a speculative ‘shitcoin’ similar to SHIBA (as long as the UST burn mechanism stays disabled), but we are discussing solutions for restitution here.
You will get a refund allowance but in order to redeem it you will have you buy back and return the UST you sold. I will refrain from answering this question again because I must have answered it over ten times by now.
Unfortunately for now I would like to prioritize on-chain holders as this group is easily verifiable. Once we get into off-chain third-party holdings things become a lot more complicated because we need compliance from multiple parties that will take a lot longer, and that route is also very easily exploitable. The last thing we want is a fraudulent company or exchange to make millions from real users by falsifying trading/holding data. That would be a disaster.
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What about those who withdrew and sold their UST at a loss after the depeging to avoid losing even more, will they be compensated as well?
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Please read the posts before yours! We just answered the same question
Definitely compensate us in the bottom Anchor wallets, take a snapshot before the depeg and send much needed relief. Also, give tokens that are exchangeable for USDC as some of us sold at the very end causing a huge loss for us.
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How do we know that there is still 1.5 billion worth of funds to make people whole with?
We are waiting docs Do promised to share publicly to have the exact amount
Great Idea !
This is brilliant Max
Also consider following @FatManTerra
After reviewing what you wrote for Z11 within that thread, I feel a bit more at ease in that you can always rebuy back the UST once you find out using the redemption tool the required UST needed in order to redeem for the full amount of USDC that is calculated.
I fully support your proposal now given the risk that at the end I may still lose some amount of my overall balance because I may have to buy back my UST at a higher price than what I have sold already. I hope the max cap will be a decent number in the 6 figures. I appreciate you leading the charge on this proposal.
One final question, is this proposal going for a vote yet or just still in discussions and will up for vote soon?
I see people asking a lot of the same questions about certain edge cases. What if I sold at various points in the de-peg, etc.
It might be good to think of this proposal as only the first of many necessary steps. But it needs to be the first because:
- It is the simplest step.
- It reaches the greatest number of people with a legitimate and reasonable claim to reimbursement.
- It can therefore deploy relief with the optimal balance of speed and breadth.
We are all reeling from this crisis. At the end of this month, after all bills are paid I will literally have no money to my name. My life has been utterly devastated by an investment that was convincingly promoted as safe. I know of too many people who have committed suicide over this or lost their families and I have contemplated the possibility of both personally.
However, this proposal represents a very straightforward first step that makes the most sense for the most people, thousands and thousands of people like me. After it is swiftly enacted, edge cases can continue to be figured out. I personally am interested in seeing this through to the end for everyone, even if I receive reimbursement first. That’s how this community is. But there’s just no point bogging down relief that’s not controversial and that would serve a great many by waiting for all the other more exotic scenarios to be unraveled.
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Not some of us, but the most of us, like nearly everyone !
Those who followed Do Kwon’s request to hold their UST trusting in in the entire ecosystem that the expanded burning mechanism would eventually restore the peg should be prioritized because these people are not profiting anything. They are just receiving back what they lost. Your proposal gives a clear advantage for people to not be made whole but to profit, what makes me think it is something you might be trying to do yourself. This tragedy shouldn’t be used for profit, but as a recovery.
What could be done is that if you panic sold, in order to be eligible for the refund pool, you must buy back the UST not at the market price but at the same price it was sold for.
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When will we know if this proposal get accepted?
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