“It is clear that LUNA cannot be salvaged”
Opposit is true, Luna van be saved, terra I dont know!
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I also lost all of my money in luna. I only have $3 in my bank account now… Do you feel my pain too? My sister is pregnant and I can’t even buy present for her baby… I thought of committing suicide but I gave up doing this for her. I applied for a lot of job today and I hope i will find a job and buy presents for her baby… Whatever, everyone has pains here and everyone who lost money is equal. Not only ust holders lost their money, luna holders also lost their money… Please understand that
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@stablekwon @terra_money
Proposal
-Refund all small UST holders through LFG holdings (this is possible as the bottom 99.6% of all Anchor wallets held $1.46 billion)
-Give UST whales and Luna holders a new network token based on their value in holdings before the depeg
This will:
-Make nearly every UST investor whole…
-Send a strong message that Terra cares about the people who actually used the network
-Spur goodwill for the network and increase the odds people invest in a new token
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You’re a great guy. I think this post should be inserted as a conclusion to the first post. Perhaps he will awaken people’s conscience.
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This needs to happen. Please, LFG…make this happen. Do the right fucking thing.
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I totally agree with this proposal. I think it’s the best and fairest way to repay UST holders. When could we move on with this to make it happen? We should move fast
Yes, the problem is, terra holders left 1/10, Luna holders 1/100000…
Yes, I do understand you.
What I’m trying to say is
LUNA is not stablecoin price can goes up and down.
UST is a stablecoin.
When UST doing good why UST holder have no capital gain but LUNA holder got a lot 2x 5x 10x.
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We cannot hold a vote on it through the Terra governance mechanism, because it does not concern community funds. It concerns TFL/LFG/DK’s funds.
The solution is to get TFL to enact this proposal unilaterally - they are the only ones who can do it.
The options then are that they act voluntarily to do it, through social pressure, or are forced to, through pressure from law enforcement.
We can build pressure on them by sharing this proposal on social media. We’ve already earned the support of big names like CZ of Binance, Vitalik of Ethereum, and Max Maher. They all agree something like this proposal is the ethically and legally right thing to do.
Share it on Twitter, etc. Reach out to influencers and luminaries in the field. Reach out to TFL directly. We have momentum. Just have to keep it up and it’s going to take ALL of us chipping in how we can. But on our side is the knowledge among small and big players alike that this is the right thing to do.
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This proposal is a slap on the face to all Luna holders and punishes especially those who tried to save Luna during the crash. A successful proposal MUST be fair and should take into account both UST and LUNA holders. I also know individuals that invested a major portion of their life savings on Luna and now are absolutely devastated. Leaving them high and dry while compensating UST holders will diminish public trust in cryptocurrency industry. UST holders also took a risk when they were looking for that crazy 20 percent interest.
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I have it all on binance. Praying a solution is reached as I couldn’t bring myself to sell and take the 1200.
Another wholehearted agreement here.
I was heavily invested in both UST and LUNA and knew the difference between the two.
This was not a back-alley project. Anchor and UST were appealing precisely because of the relationship between risk-on and risk-off, and the big names and money behind the whole ecosystem.
A failure to compensate small holders would send the entire crypto industry back. I personally would simply dismiss the industry as the same old corruption in a new package. I hope the bigger players in the space factor this into their decision matrix.
Premise: Sorry for my English.
I really like this proposal and above all the aim, that is to preserve small investors and the savings of families, students, etc …
But in my opinion there is a problem and that is to reimburse only the owners of UST and derivatives and not the holders of Luna and derivatives.
If you want to revive the ecosystem or at least try (which is very difficult, however, trying not harm), you must reimburse both the owners of Luna and Ust and the like by putting a maximum limit for a lower address such as 5 / 10k so as to reimburse more users. and it is a target that covers small investors and in the event of a loss it will be minimal compared to the current one.
Why is reimbursing only the owners of UST and the like counterproductive for the ecosystem?
Because almost all the users who held Ust were just to put them on Anchor and have 20% per annum and were not real users of the ecosystem, plus they are users looking for the highest and “secure” APY and often even uninformed , so once compensated they will go to other ecosystems that will give them the highest APY on Stables such as USDD etc … Instead, by also reimbursing the owners of the Luna, what you saw / experienced with the failure of that site could happen, certainly reimbursing many will go away but a small% could still invest in the moon or any fork or similar.
Why should Luna owners still invest in the ecosystem?
For the Uniqueness of the ecosystem of the Earth it had / ha.UST is similar to other Stables that are about to be born or have just been born and people could migrate elsewhere instead Luna had / has something different compared to the other Chains. of the ecosystem we had seen interesting and innovative Dapps such as kujira etc …
The whales?
Whales have superior tools to a small investor and let’s face it, they will have reduced losses or gained between arbitrage and trading during these days.Moreover, most or all whales hold more altcoins that have suffered a big loss after the moon crash. and a refund would also do well to recover capital on those chains because a slightly better sentiment would return and they would recover a few percentage points. If there will ever be a fork, obviously it will be right to distribute a higher% of coins to them but with limitations such as tied for a few years and back they have an APY or similar to avoid a mass dump.
In addition, Luna was “sacrificed” to try to save Ust in extremis so they should be included for refunds.
Refunding all users whether they held Ust or Luna could also avoid legal trouble at TFL and Do Kwon for ponzi or similar.
PRECISE
For me, both UST and Luna holders and their derivatives who had these assets before the collapse and still hold them and who did not seek to gain advantage during the collapse must be repaid.
For those who have tried to contribute to Terra by purchasing the Luna dip or the Ust depeg, if ever there will be a fork they must be among those who will have the Coin.
SUMMARY:
Luna and Ust purchased before the collapse and still owning them 5 / 10k in USDT / USDC. Refund to address.
Luna and Ust purchased during the collapse will have an Airdrop on a possible Fork.
Whales will have an Airdrop on a possible Fork and will benefit from a better market sentiment on the crypto and defi world.
I leave you this proposal which explains well that inserting all types of affected users is essential otherwise your proposal will be null, because it will be appreciated by those who have Ust and not by Luna holders: // https classic-agora.terra.money/ t / a-sensible-decision-making-framework / 12142
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We are just giving priority, please read the thread carefully, it’s not a war me vs you, but people savings promised to stay stable become first, then there are many solutions others are already working on for you, such as fees on tx, givebacks and so on
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valuable proposal, +vote
This proposal is a slap on the face to all Luna holders and punishes especially those who tried to save Luna during the crash. A successful proposal MUST be fair and should take into account both UST and LUNA holders. I also know individuals that invested a major portion of their life savings on Luna and now are absolutely devastated. Leaving them high and dry while compensating UST holders will diminish public trust in cryptocurrency industry. UST holders also took a risk when they were looking for that crazy 20 percent interest.
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“that crazy 20 percent interest” really? First of all, UST is a stablecoin while LUNA is a volatile crypto coin explicitly designed to reap the rewards or suffer the consequences upholding the UST peg. UST will legally be treated as a bond while LUNA would be considered a share/stock. If this goes to court, which hopefully won’t be necessary but probably will happen, there is strong precedent for exactly the proposal outlined by FatMan to compensate UST (bond holders) first. If this is done, Terra would regain some of their reputation and could move forward with the support of the community on a LUNA v2 which would actually be worth something and could be given to LUNA holders.
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Please read carefully the thread, we are just saying UST holders first because UST were presented as a stablecoin and confirmed until last minute by Do. We aren’t saying you don’t deserve anything, there are others proposals people are working on. Such as fees on tx, givebacks, new tokens and so on.
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UST and LUNA are totally different assets… They have no responsibilities about the price of LUNA unfortunately. You invested in a startup which failed. If this company still has some money they have to pay back the debt (UST) first. That’s how it works…
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