without a full refund of ust holders Terra is died
I agree! UST holders must be refunded!
His twitter made me think it would be re-pegged. He knew it was collapsed but still mislead us stay hold. This makes me sick. He must go to jail
I still hold too. I have 7556.00 UST sitting in my Terra Wallet. I took it out of anchor Saturday or Sunday to try to sell but I couldn’t, so there it sits. Mine is probably small compared to most people. I was about to put in 20k of USD before all this. Only reason why I didn’t was trying to find how to do it without so many fees.
I hope Justin Sun’s proposel goes through. That will help USDD is an algo but I’ll support whoever gets us out of this mess. Luna2.0? Who wants that? If Do Kwon showed that he cared about all of us it might have been different.
I’m hoping something happens for UST holders cause that is all I can do.
I bought UST by my saving USD not by Luna, I only want my USD back, i will not accept Luna V2, we all know that an international lawyer is ready for those UST holder.
I agree with this idea
You can tell how justifiably angry and upset many of your investors are. I don’t understand the technicalities, nor do I have to since this is not my area of expertise. However, I am the mother of a young and new investor, one of the many small wallet holders who trusted UST with her savings. You are under pressure to satisfy everyone and to keep yourself afloat. That will be impossible in this situation. What you can do, however, is THE RIGHT THING. You may have heard the old joke based on one of the Christian beatitudes: “The poor shall inherit the earth,” said Jesus. To which the already-rich responded “but we’ll hold onto the oil and mineral rights.” You have a classic battle on your hands between the "haves and the have-not-quite-enough"s. The latter have surely been hurt the most by the failure of your project. For this reason, I urge you to consider the suggestions of CZ, Vitalik, and others who support a proposal that would prioritize making whole the smaller UST wallets first. If you are truly a visionary and want to create a new world order in finance which will change lives, then please do not fall back on “business as usual.”
I also hold a similar amount. I’m grateful I didn’t put everything in UST because I would be completely broke if so. So many exchanges promoted it and I decided to give it a try. So far, the worst decision I’ve ever made.
Ofc thats True but tfl have no money even to rule forks. We need New investors
There not being enough money may or may not be true. Depends on how much was just funneled into personal fortunes from the team that should of been used for UST backing. There was indication at some points through deleted twitter posts that there was as much as 9billion in backing at one point.
I still deposit lots of USTs of my life savings on Anchor. Do Kwon please fulfill your promise.
We are still trust Kwon Do, please save UST in the Anchor
UST holders should be made whole (1:1) before UST de-pegged. UST holders after de-pegging should be made whole based on average UST price (around 0.5) since Terra team said UST peg will be fixed while the market was tanking. A lot of people in the community sold assets (Luna and other assets on Terra chain) to UST while the market was tanking, in hopes to get away from the volatile market. Those people should not be punished because they wanted the stability of a stablecoin, and were reassured by the Terra team that everything was fine and that UST will be re-pegged.
One stakeholder is not more important than another in this case. All are users of the Terra ecosystem and should be compensated for the loss.
If ust investors wanted $1 value, they would have bought dollar itself, they wanted more than that , so they went for UST. When there is a chance of getting more, there is also a chance of loss.
LUNA is the reason why UST has any value, be it $1 or 1o cents. If LUNA is saved, ust price also will slowly climb back. But in future, they both should be delinked. LUNA should not be forced to carry a burden like UST.
No need for new LUNA. If not burn, tax LUNA transaction at 0.005%. very small percentage, so that transactions are not discourages. Then use the amount generated for developers and new projects.
This will satisfy 99.9% Luna holders. 0.1% of Luna and UST buyers who paid more, will not be happy. But thats how things work in real world.Small fish will be given prefernce over whales.
Ust is our usd money… why do we need to beg u to get it back? If u wan to fork then go fork your mother.
You realize the demand for UST is what burned LUNA, made it more scarce and drove up its value. LUNA would have been a small fraction of what it became without UST and Anchor 20% apy.
Yes, only UST holders pre-depeg should be refunded and airdropped, NOT any UST speculators who bought after the depeg. After depeg, you already knew there was a strong possibility things would get worse – you were speculating and hoping it would repeg, so you could turn a quick profit.
Those who held UST pre-depeg bought in at full price ($1) on the promise of stability, not speculation. If they sold at 0.8, 0.5, 0.3, or whatever, they lost huge. I kept holding on until LFG tweeted that they had essentially barely anything left in the reserves to compensate UST holders, news that crashed the price down to 0.08 or so, when I finally sold at 92% loss.
All of Do Kwon’s tweet about a UST recovery kept me waiting to see a repeg that never came.
A launch snapshot for UST holders is adding insult to injury, salt to our wounds for people who believed in UST upfront and realized massive losses. A launch snapshot means such UST holders, who were the ones who helped Terra thrive, receive nothing, while rewarding speculators who can now buy 10-12x the amount of UST for mere pennies on the dollar compared to people who originally bought UST at $1 pre-depeg.
Those buyers during the depeg and post-depeg should NOT receive any airdrop, for they were purely gambling and entered in knowing it was a gamble. UST holders pre-depeg were specifically trying NOT to speculate and gamble, which is why we bought into a STABLEcoin.
For pre-depeg UST holders to receive nothing is to kick the very supporters when they are down, then rubbing salt in their wounds by rewarding speculators who now can buy 10x the amount of UST…and STILL get a bonus airdrop.
The airdrop is hardly enough to compensate for the UST pre-depeg losses, but to say these UST holders will receive nothing makes no logical sense.
I do not hold any UST and I’m not LUNA investor. However, I disagree with your idea that stable coin is a “stable” investment.
I myself hold usdc and usdt and I’m fully aware, that I’m taking many risks. And one of them is losing it’s peg and collapsing.
Holding UST also carry that risk.