would be great to get more clear confirmation on this. not sure why they have hidden this information so tightly
Woke up and see Vitalik Buterin, CZ, and Max Maher all supporting this proposal. Vitalik also made good points about the legal precedent supporting it. This outcome is starting to look more and more likely to pass. Check out Max’s video if you haven’t already. He has almost a million subscribers!
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No sure, but the proposal sort of excludes the wallets larger than 250k not give a larger than 250k wallet, a 250k portion of what they had. Except if I got it wrong.
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Agree.
I was using Nexo… same story
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The proposal would give all wallets restitution up to a certain cap so that 90%+ of the users can be made whole. This would provide some refunds for everyone, including whales, but be weighted towards small and regular users many of whom lost their life savings in UST.
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Hi - the flipsidecrypto tool does not show UST inside Osmosis LPs and wasn’t showing all the tx history of the wallet. Assuming that can they probably just do a snapshot of all wallets at a certain block height and check other sites like Mirror, Aperture, Osmosis etc… Good thoughts overall tho - just a matter of the technical aspects of finding all the wallets that using their UST to provide liquidity or for other purposes on the various Terra / IBC ecosystem DeFi protocols
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Voting via the established governance mechanism is meaningless because UST holders do not get a vote. Voting also cannot control what happens with TFL’s funds. This must come from TFL unilaterally.
In other words, a proposal like this lies outside the artificial jurisdiction of on-chain governance. This is the territory of ethical and more importantly LEGAL obligations.
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Cool. But again this was also my life savings. I get the proposal. Just want to make sure I am not excluded for having more than 250k.
LFG could silently wait for UST market price low enough (e.g, 0.07 USD), then buy and burn all of those UST that want to exit. If 70% of total UST supply is on the exit, then about $500 millions is needed to bring UST back to peg. At this point, we could push UST over-peg to burn LUNA, which reverses the hyperinflation process. My 2 cents.
I hold both LUNA and UST in terra station, I could vote
stop separating luna holders and ust holders and saying speculators to people who bought after the “attack”. Okay we know priority is ust holders because ust had to be stable but it could not be stable without luna. Someone had to buy luna and ust could be pegged. Please understand me. People who bought during the “attack” helped to ust holders to pegged. But creators or devs or the ust whales sold theirs assets. Luna holders should not be put in the background.
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You would get the max cap now, e.g. 50k$ then there are other proposals for what to do later, e.g. put higher fees on tx as a giveback, tokens and so on, but here we are only talking about what to do now, then we will evaluate others proposals
I am ready to vote too, Definitely best idea at this stage.
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You would not be excluded.
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I understand your point, but we are saying something different! We are just talking about giving priority to UST holders for the aforementioned reasons! Then there are many others proposals on what to do next
Please show me in a screenshot where UST can be pledged to vote on anything and then you’ll understand what I’m saying.
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I hold both LUNA and UST. I am ‘happy’ to except a loose on the LUNA as I saw that as high risk. UST on the other hand I viewed more as a stablecoin investment, and for use if I wanted to purchase more BTC
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I agree with the proposal as long as it includes L2 like Mirror, etc.
I had just under $300K UST on Anchor. I am not a whale. I am not a billionaire.
How on earth did I get put in the Whale catagory with my life savings?
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