I agree Kate, this gives those who were trading a clear advantage. For those who sold out, provide proof of your holdings (withdrawals and deposiits) throughout the event (in stablegains/alice/osmosis etc.) and where you sold out and receive the difference in USDC. Traders would have to do the same for all exchanges they were trading on and would receive the difference from their net loss.
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Think of how complex and rife with abuse this would be though. What is the likelihood that all exchanges would participate in this and we wouldn’t have fraud draining the reserve?
Its a solution to to make the ecosystem stay alive. Luna make alive. UST is the other story.
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There’s no figure decided on yet. It will depend on how much LFG has remaining.
I voted yes for this proposal.
But now only 8% vote yes.
Please vote yes if you support this proposal.
This.
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Do Kwon and friends should’ve done what was necessary to prevent this in the first place if they truly believed in their own ecosystem. Why should anyone else be expected to place priority on restoring the terra network when they were the ones who faltered? Pay the people in the most direct, appropriate, and efficient way and if they decide to stick with Terra, great. If not I understand.
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@FatMan , by aUST & UST holders on Terra blockchain, is UST in LPs on platforms like Astroport, Mirror, etc included?
A suggest for your 2nd point about paying the bottom 75%. May I suggest to keep your original $50K refund and do it in multiple rounds to ensure borderline wallets also get something back.
Example, assume
wallet 1: $5K (45K remaining to be spent in round 2)
wallet 2: $40K (10K left)
wallet 3: $51K
wallet 4: 150K
First round would make wallets #1 and #2 whole, second round would make wallet #3 whole, and so on. Do this until $1B or 1.5B is fully disbursed. Thoughts?
Strongly agree with this proposal! If everyone who had under a million dollars in Anchor will be made whole, then I think it will help regain a lot of trust in the whole project and ecosystem. Terra management would be seen as someone who is able to accept responsibility and respects their investors and won’t keep them at bay in case bad things happen (now and in the future).
Let’s vote YES to this proposal everyone!!!
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Dear FatMan,
Does your proposal cover people like me, people with Luna in Binance or other exchange? I have spent £6700 (life saving) buying Luna at £2.5, Will I be covered in your proposal?
Now this proposal has support from @cz_binance, @VitalikButerin, @Maxwell_Maher. And many more to come. Guys, keep this thread share everywhere and let everybody know! we will make it happen
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That’s a solution that divides the community into two parts. Its not the right way to do if you want to see this project alive.
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This proposal only concerns restitution for UST holders since the stablecoin is considered a bond and they are owed a debt as it was used/advertised as a savings vehicle. Doing this would repair a lot of trust in Terra and would make any future plans concerning a LUNA v2 issued to LUNA holders more viable and likely to attract investment.
Yes, UST derivates on chain are included. Please read the original post.
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This 100000%. Fix UST first. Then LUNA literally moon. That’s how it works on Terra, and how it had worked so far.
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What promise is there that the project will stay alive after all of this? Trust has been irreparably broken from long delays post de-peg with vague, drawn out solutions. I would never expect someone who regained their 10k, 50k, 250k to reinvest with the same company, especially if asset recovery wasn’t prioritized at the beginning. If they want to, go ahead. But would you really want to risk getting burned twice?
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I believe that LUNA has amazing ecosystem, with perfect UI/UX, far better then Solana etc. Its potential is HUGE. So yes I believe that it has potential as a ecosystem. UST lost its trust, LUNA has not. Lets salvage this and come back twice as strong.
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Vitalik’s tweet https://twitter.com/vitalikbuterin/status/1525561624974700545?s=21&t=PquqnUhUOObOmaDVm0Q63A please share and retweet.
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And another thing, the community was split in two when Do Kwon and friends made two codependent currencies from the beginning.
From observing on-chain activity over the last month of some of the largest wallets, I would not be very hopeful. https://terrasco.pe/ is suspiciously offline (replaced with terra finder), making quick lookups of historical transactions on terra more challenging.
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