Suggested changes for the Terra Ecosystem Revival Plan 2

Governance & Proposals
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Suggested changes for the Terra Ecosystem Revival Plan 2

Summary
The Terra Ecosystem Revival Plan is the closest suggestion we have to a fair distribution of the new luna coins. I have collected some of my favorite ideas from Twitter as well as added some of my own.

Motivation
The ones that have been hit the hardest are the loyal retail investors. Community members who have been supporting Terra for months and years should get the greatest allocation. We need to account for stakeholders who took profits and bought Luna and UST at the bottom.

More than just two snapshots are needed to identify how different investors acted in this event.

Proposal

Changes in Token Distribution

Focus on people who have held $UST through the event, rather than people who bought at the bottom. Suggested By WestieCapital

Same mechanics for people who held $luna vs. people who bought at the bottom.

Multiple snapshots are needed to evaluate

Changes in Token Distribution

Pre-deg snapshot should represent ALL of a wallet’s TVL including Terra Alts.
Suggested By Cephii1

People who have invested in the Terra Ecosystem are most likely among the most loyal member of the community.

Burning of the $luna token:

The most important aspect of Terra was not the relationship between $luna and $ust.

Rather the burning of the $luna token was the reason it was so popular.

We need to implement a way to burn $luna with the generated transaction fees.

Increase the number of snapshots for a fair token distribution:

There are many different stakeholders that have to be accounted for, some of the most popular are:

• Luna holders

• UST holders

• People who bought Luna-UST on the way down

More than two snapshots are needed to determine how these stakeholders acted in the de-peg event.

Distribution needs to be maximized for people who did not take profits.

People who caught the knife at higher prices should get more compensation than people who bought the bottom.

Reentering of stablekwon and LFG_org as key figures of the Luna Ecosystem.

A community chain sounds good, but it’s not the most effective way to rebuild $Luna.

Mistakes happen and @stablekwon needs to be able to make up for his failure.

He is the only one who can save Terra.

$Luna fork being IBC compatible and the integration of keplrwallet. Suggested by Cephii1

The forking of Terra gives us the possibility to increase cross-chain interoperability for osmosiszone

I am sure keplrwallet would integrate the new Terra chain for free :pray:

1 Like
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I stopped at “The Terra Ecosystem Revival Plan is the closest suggestion we have to a fair distribution of the new luna coins.”. That plan is obviously a sc@m so your proposal is a sc@m as well and most people have better things to do than read a book outlining a new sc@m.

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As long as fork is involved, it is not a correct solution. We must face the fact that members of the community are reluctant to fork.
Burning coins is currently the biggest wish of the community.
We can make various patches to luna to further improve him, burn luna through various methods such as repurchase, transaction tax, handling fee, etc., and create new ecological applications with luna to pledge.

2 Likes
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Agree re no fork. If we burn excess $UST first, we will create a great opportunity to long $LUNA before the debt is repayed and people will be selling the token; then when peg is restored everyone who accumulated some $LUNA will make generational gains from burning it to $UST again like before. We just need better oracles. [Proposal] A Better Way Forward™ = TFL pays back $UST by burning excesses, NO FORK