Still have it all on binance. Couldn’t afford to take the loss although the 1200 is better than nothing Im hoping for a solution and selling would surely make things worse if everyone did that. Sorry if I have answered twice… New to this forum and only just posted and tried to edit.
Luna holders should get at least 50% of the losses !I believe in this project so much , I never invested so much in any other project !Luna was amazing! I’m not happy with the proposal!I get thousand of UST at moment of atack ,and converted all to Luna on the way down
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Actually by doing this, you pay a lot of ppl double the money. Because a lot of ppl got out in time, and didn’t suffer any losses, but they will still be in the snapshot and get 100 ’back’. Even those that got out with lets say 0.80 on the dollar, will actually get 100% back and keep the money they got out (80% profit).
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So reserves gone?
Fully agree on this. In my opinion a new centralized pegged coin can be created, backed by collaterals left in LFG ( Not Luna)
Protecting the small investor should be the first priority. Their day to day life has been impacted due to this. Some of them are on verge of collapse.
This is the only way some faith can be restored.
The community, developers, technology and products that are built still has lot of value and can be rebuild with lot of safeguards and transparency.
Here is my two cents with limited understansing. The Luna community members can further enhance this:-
Take the snapshopt before the depeg event. Repay the PRINCIPLE amount at min. which was initially invested, without the interest and borrowed / collaterized USTs. People will still be fine if the new pegged UST is still locked in Anchor and allowed to be withdrawed gradually (10 percent in a month at max.)
People who panic sold at much lower prices, that difference can be deducted from the final reimbursements. A way has to be thought through to establish this, so only genuine people are rewarded and people dont run futher scams and ponzis. This has to be transparent.
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Please read the thread carefully, we are just prioritising UST holders because UST has been presented as a stablecoin, next there are proposals for you guys, some you can already read
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They would still need to rebuy the UST which they probably wouldn’t have a chance to do if a repayment plan is announced as UST would rise much higher and probably approach the 1:1 peg. You would need to get all exchanges on board and it would be complicated to decide who sold UST at what price and how much they should be compensated, and would probably be vulnerable to fraud/abuse.
My answer was only to implement in this proposal also a refund for those who hold Luna, it is unthinkable to think that a proposal will ever be accepted that talks only about the refund of the moon or only about Ust or who comes before or after. If we still talk about who comes first and who comes after, we are still very far from the solution. We need a proposal that integrates everyone, if not, there will never be a solution, join the link at the end of my answer to better understand my point of view.
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We really need to keep the pressure on, both CZ and Vitalik support ideas similar to this proposal. I really think only outside pressure can get Kwon to pay up
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It can’t be part of this proposal, this is just the first step, in which we try to refund most people by priority and as explained UST ‘is’ a stablecoin, while LUNA a token which can go up and down, so you need some more patience from the others proposals, but we aren’t against it
Please read my previous posts on the legal distinctions/obligations between UST and LUNA. Aside from that, we know how much compensation should be awarded for UST because it’s a dollar stablecoin. It would be very messy for LUNA because it’s a volatile cryptocurrency. Besides, its explicit purpose was always to support UST as outlined in the whitepaper. If UST holders are compensated (there isn’t enough money to compensate everyone unfortunately) a LUNA v2 could be issued to LUNA holders which would actually be worth something.
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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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don’t forget you have ust on exchanges please
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What do you think about this idea?
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Let me ask a question. UST was a stable coin and Luna is for ust peg. But what if nobody buys luna? Then ust is nothing. If UST is a stablecoin, luna is stable coin’s guarantor. So, people who buy LUNA was helping UST to peg… Both sides must be rescued without prioritizing.
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When terrastation voting?
I support this idea. Please remind me if and when this goes to a vote.
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That’s not how it works though. People who bought LUNA at whatever price knew the risks of it going up or down depending on demand for UST, and some rode it from under $1 to $120. People in UST were promised a stablecoin and are debt holders who must be compensated by LFG. UST’s peg was also considered to be backed by the LFG BTC reserves. Those reserves should go towards this purpose.
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