Two Snapshots
Native terra assets (ANC, MIR, etc) should be assigned to users (in any relaunched network) based on the very last snapshot that the existing Terra network is in existence - or, at the time this proposal is formally adopted - whichever comes first.
Holders of UST (problematic debt) can be airdropped USDC/USDT based on an earlier snapshot - if the desire is to avoid gaming of the airdrop by whales.
There is no reason (related to gaming, etc) to assign native terra assets based on an earlier snapshot. If users made market decisions (dumping native Terra assets fleeing, OR buying native Terra assets to support the network), those decisions ought to be respected.
Snapshot for holders of UST
Consider airdropping USDC/USDT funds only to addresses who held UST: (a) at an earlier snapshot, AND (b) at the latest snapshot.
This ensures that only people who held UST throughout the turmoil get rewarded, and we don’t double reward people who already dumped their UST for USDC/USDT.
Furthermore, with the amount of uncertainty in the current environment, it’s super unlikely that whales (even now) would have take this proposal seriously enough to split their holdings into multiple wallets. Is there any evidence of this occurring? It should be straightforward to check the blockchain history. If it’s not happening, even for the “earlier snapshot”, we should use the latest snapshot possible.
People who tried to save Terra
Regarding the USDC/USDT airdrop for UST holders, we need to be careful not to reward people who held UST at the time of the attack and dumped UST as the spiral got worse.
Also, it’s important to reward UST holders who brought capital into the Terra system as the attack worsened. That is, those people who bought UST hoping to restore the peg. These people may have bought UST, or other assets on Terra, by pumping new funds into the network. If possible, we should not ignore them, and they should be rewarded.
Contracts holding aggregated user funds
Kinetic and Mars contracts (amongst others protocols) held aggregated user funds in smart contracts. What about the users who deposited funds into those protocols?
UST holders off chain
What about people who held UST off-chain on other networks / on CEXs?