Slow action and unclear answers confuse us.
The collapse happened suddenly, however, they are still slow in action and unclear answers.
Quickly and clearly answer two simple questions that are getting public attention.
How many assets are in reserve and where are they located?
Burn or hard fork?
In times of crisis, time is money and life. It is also an opportunity that will never come back.
I can answer one of those. Fork = fraud
Burning is the only way to increase transaction tax
and must now
Burning will lead to a large number of whales hoarding luna, which in turn will lead to a decline in transaction volume, to a certain extent, there will be a delicate balance in the market. Plans to eventually burn would also fail. This is the way to save Luna. When infinite quantification is turned on, Luna enters a death spiral. No currency inflation can save the original price after 1000. Market trading behavior simply does not proceed according to the burning plan. Because the cost of buying it is low enough now. The burning plan is also for arbitrageurs who want to take a profit at the current price through poor information. As long as people in the market have this idea, the burn plan will not work.
Binance cz gave the answer that I thought also. How tf do you just take a snapshot and fork and hope the value to be back? Plain and simple the money gotta come from somewhere. Either Do borrows money from investors or takes loans to prop it up. Hoping the community to buy again is just running yet another scam.
UST holders need to be made whole. Since the whole existence of Luna is to create a stablecoin. Luna holders come next in tranche. Then destroy this shit of a project.