If UST repegs based on the plan released by do kwon I read on Twitter will Luna token be a part of the Terra Ecosystem. And is there any point into holding onto some Luna in case of a possible turnaround , or is the Luna token going to be completely irrelevent?
With or without the UST re-peg, I think the LUNA token continues to function as it was designed – a fractional ownership stake of the Terra blockchain that allows you to participate in governance.
Once equilibrium is reached, the excess minted LUNA would eventually be burned. Then, its value would just normalize back to being a fraction of the value generated by the Terra blockchain.
Despite the efficient market hypothesis pundits saying that all the information about a security lies in the price, I don’t think LUNA’s current price captures the value of the a) the tech, b) the apps/protocols built on the chain, and c) the community upon which its built.
So assuming UST recovers, and if the community holds together, I’d say that going back to “normal” levels (pre-attack) is a possibility.
At the end of the day it is a layer one blockchain with a vision i believe in and I beleive the team beieves in it too.
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