Save Luna without redistribution

Governance & Proposals
1

Summary
Luna should be saved without any redistribution of tokens.

Motivation
There is a lot of disagreement on the go forward proposal. The go forward proposal isn’t fair and is based on all selfish reasons. It is not tolerable to just ignore financial losses a huge bunch of Luna holders and cut them out of financial recuperation.

Proposal
The current Luna should not be replaced by a new Luna with redistribution. Luna is a fungible token. Each Luna is worth the same and therefore when finding a way to recuperate financial losses every Luna holder should be compensated in the same way. Being a staker doesn’t make your Luna more important than the Luna of a new small investor. It doesn’t matter who is the owner of the Luna token … no matter if you are Do Kwon, Musk, the pope or Papa Smurf … no matter if you hold Luna since the birth of Jesus Christ or if you know how to juggle with 3 apples … your Luna token is worth exactly the same as my Luna token. This should also be reflected in the recovery plan.

And if this isn’t done in an honest way, then I am strongly against a new Luna token. Then we better keep the current Luna token and fix this mess we are in. Attract outside capital to fix the UST, change the Terra Luna mechanism to avoid his mess to happen again in the future and then start burning Luna over time so the supply comes down again to a reasonable level even if you have to attract outside capital for this and give those people an important stake in Terra Luna

17 Likes
2

It would be straight disgusting imo if they would ignore the true believers.
Those who bought up LUNA when most of the people dump it.
People who bought up all the minted LUNA with hyperinflation, should be treated as such.
They are the believers, the rock solid part of the community.
UST is gotta get the pag no matter what, or there will be no more LUNAtics again, and also the lead team would be still facing jail time…
UST comes first, LUNA comes second, or the whole concept of luna has to change.
Save UST no matter what, and maybe we can have be a rock solid top chain for a couple years known for the ‘Attacked decentralized stabilecoin of a kind’ with succesfull defense.
UST > LUNA

8 Likes
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I think using Luna to save UST is good. But not hyperinflating it like this. It was obvious it wasn’t working. Now they killed both coins. They should have attracted outside capital to save UST. That was the only way to save it. Let UST dump in the meanwhile and tell UST holders not to sell, no matter what the price is doing because the team is looking for outside capital to peg UST and UST would be saved eventually.

I think they chose the current path out of pure ego. They couldn’t live with the fact that their algo was failing.

3 Likes
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but current plan to get the peg is clearly not working,. ust is 0.09 now

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5

UST is priority… or this project dies instant.
Peg the UST anyhow. btw: I believe the hyperinflation made the funds ready, as the total supply became 6,907,376,873,996 out of thin air. I saw the volume and the prices. How and why would be that the case thats it is not enough? Obviously that should not be the case

6

In theory stakers of LUNA should be compensated more (if that happens at all) because their funds are locked for 3 weeks. That shows more trust and is better for the ecosystem.

I learned my lesson the hard way in December of last year. I wanted to take some profits right at the top at $100 but couldn’t because all of my LUNA was staked. I had unstaked 1/3 of my tokens two weeks before and just missed it…

Being greedy, in retrospect I would/should have never staked LUNA. So the less greedy people should be compensated more.

7

Who are the true believers? People who were there not for money but for the idea? Please stop this kind of fairy tale. Every single “believer” had the same purpose joining that journey → get rich.

8 Likes
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Yet again someone talking not from rational thinking but only self interest. You staked your coins because you wanted to get more free Luna. You know very well that once you stake and you have to lock it in for a period of time that you can’t sell if the coin crashes. Don’t try to make this like you were some kind of hero. You were just greedy and was stuck when everything crashed.

Luna is a fungible token. Every Luna should be treated in the same way. Period.

7 Likes
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I agree there is a lot of confusion and disagreement, I dont think they are taking into account LP providers on other chains like me in Osmosis and Juno. if they leave IBC LP’ers out of the game. why would any chain even want to deal with luna/ust when it left all of users on their chain out in the cold.

But please correct me if I’m wrong,
But what I understand from your post is the following:
so if I’ve never had Luna, and bought 5m LUNA for $5 before the halt, my Luna is worth the same as 5m Luna 30 days ago. I agree it was all worth the same 30 days ago. not today. not when any LP position with luna went to under $1 and UST is not far behind.

1 Like
10

Absolutely agree. We can see two different camps. And mainly those who have been there for longer are dominating by pushing votes towards such narrative “only us should be rewarded and fuck the rest.”
Open your eyes people you are ALL without exception there for money. Luna was listed on CEX not for fun but for making money. Luna team is the first responsible to make the system stable as they are responsible right now to find the way to cover all losses of EACH and SINGLE person no matter if it a “true believer” or a “true speculator” whatever the name is they are both the same.

2 Likes
11

Clearly not, as for locking and staking you get extra rewards. That’s your compensation for locking it-staking it.:slight_smile: May you forgot.

12

Everyone take its own risk. Or we all sink or we all treated the same way point.

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The ecosystem failed. It’s not previous buys or latter investors that are to blame. Favoring one side or the other doesn’t help luna longterm. Snapshot holders sell day one because of zero trust. Non snapshot holders don’t buy day one because of no trust. Then we have the same problem. V2 sounds as much like a scam as v5. You don’t scrap crypto projects to harm or better any investor and expect to be successful.

2 Likes
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They made hyperinflation to bring value to repeg UST, from us ‘believers-community supporters’
Billions of $ went there. Where it is now? It should been enough or close to enough to repeg the UST.
Repegging UST is priority, everything else comes next! The whole purpose of LUNA is the UST. Even the 'leader’s name called stablekwon

Plan:
1, Recover UST ASAP
2, Strategic plan for marketing-getting more people use LUNA, Bring back trust, and burn tokens with fees.

Without UST LUNA will worth zero, nothing!
Recovery iof UST is key or the project is dead…

3 Likes
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saving ust is easy the hardest part is luna because of those who bought the dip. for ust it will need to fully collateralized there is no way around that

1 Like
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The lack of saving UST was the issue of all times.
It should been pegged already 1:1.
But it isn’t, so they took it off from exchanges too.
Seems like they don’t want to peg anymore the most important part of the project.
It’s stablecoin, UST.
Gain trust back and community support with getting UST to 0.95$
Than regrow, burn tokens with fee revenues etc.
Yes it will take time, but if we ‘reset’ to LUNA before crash. It will do nothing, as we didn’t peg UST first to 1$ and without that, luna is worthless…

FOCUS ON GETTING UST 1:1 USD
THAN EVERYTHING ELSE COMES NEXT

1 Like
17

cool down seems you did not get what has been communicated

18

I was stupid, that would be the proper word. Staking for only 9% with a 3 week lock up is not smart financially.

Staking/ stakers are better for the ecosystem regardless of their motivation.

19

I think like you

if it is impossible to distinguish the holders, I think it should be based on the quantity. Those with too high LUNA quantity may be speculators or attackers. On the contrary, those with low quantity should be good holders. 1~500,000 or 1~1,000,000 luna or LunaV2 above a certain number will be excluded

For example: Holders of 10,000 luna, after replacing LunaV2, get 10,000 new luna,
Those who hold more than 1 million will not get new luna in LunaV2
Or set a maximum cap for holding

When LUNA V2 comes out, the LUNA in the exchange will also be automatically replaced with LUNA V2, excluding those with a large number

UST, also according to a certain amount of replacement
Or UST doesn’t change and keeps him at $0.1
Let UST go up slowly

It’s fair to most people , and exclude speculators and attackers
Because anyone who buys LUNA under $1,
His LUNA is absolutely huge, which can exclude most people

Also, if you do not change any of the above
The only goal at present is to make UST return to 1
Or let LUNA reverse arbitrage to break the death spiral of profits
And to those who exchange LUNA for UST arbitrage, lock up their positions for a while?

What do you guys think or have a better opinion?

Also I saw someone mentioned ,

『You can easily scoop investor’s buying/selling activites from various exchanges to know at what price they bought LUNA & related coins/UST - & just only refund that amount (irrespective if they can profit or were in loss). This is not only fair, but will 100% reinstall the trust in TERRA as an organization coz no one will lose in this model - not even TFL, anyone.』

holders who bought after the attack
Just refund the amount he spent?

This also sounds ok, or let the holder
Provide transaction hash yourself? But don’t know if it’s feasible

20

Better than what? Without new cash flow investors you can’t dump your staked token rewards.
How selfish and greedy u are lol hilarious