Summary
Since we understand the decentralization mechanism of UST doesnt work out. so I am suggesting to omitting the entire UST system at this moment.
Motivation
To reset the entire Terra network and have good beginning again since Terra blockchain has a lot of potential projects running on it. Suggest to airdrop the new token $Luna2 back to all holders before de-pegg event (Last tick $80)
Proposal
Assuming the market cap at May with $30B before depeg:
40% $Luna2 to UST Holders (1:1 before depeg) ~ 12B
10% $Luna2 to Luna Holders ~ 3B
10% TerraLab Team reserved for development and rebuilding the Terra Network (with lockup and vesting)~ 3B
20% Community Reserve and Incentives for motivating project back to Terra ~6B
20% Revival of Wormhole, Anchor protocol ~6B
Most important is that LFG shall reveal their Crypto Asset flow to the community for gaining back the trust.