I see no logical way as to how the proposal will work and be sustainable. Nobody will list this new coin on any exchanges and the ecosystem now has a serious credibility issue (60+ Billion liquidation event over days?).
Also all those “reserve” transactions should be fully audited. Time/transaction, from/to, price, etc. Very hard to believe 80k BTC liquidated in an OTC trade. Transparency is vital!
Still a lot on questions that need answering (like who done it?) before a plan forward is even presented. Saying “oh well, don’t look under the rug, we will just make a new network” is INSANITY.
It’s all traceable, we will find the root cause of this, or it will just happen again!!! Com’on Man!
Burn is the only way. Fork is just another disaster, are you gonna say that people forget what happen and believe in other new version of it. Just implement Burn with the reserve and remedy fee each luna transaction.
Regardless what plan is followed, I do not believe Terra will be able to recover with Do Kwon being the face of the project. He should step down, leave completely, or at the very least take a silent role, and let the rest of the LFG team handle all of this. He made too many mistakes, likely privately, and definitely publicly (including burning goodwill with his toxic behavior on twitter), and even now ignores what the community is saying.