Zero issues with a tax/burn mechanism. Set a % on each transaction (i.e. 7.5%). Direct 2.5% to people holding prior to depeg, burn the other 5%. Supply decreases. Holders wallets prior to depeg increase. Investors after depeg see their investments increase. No one is left behind. No one goes to jail. Trust is restored.
And this is all paid for with a small tax on the massive amount of Luna volume currently being traded on a daily basis.
Sorry. Redenomination would end up flavoring those who bought millions for cheap. Unless you want an exception for all who bought before the first halt. I mean when the value was still around a dollar.
Absolutely Raw plan of destribution of New LUNA coins.
This plan didnāt consider new and small investors which are the future investors of crypto.
LUNA coin cost start at around $0.2 to $120.00 from year 2020 to 2022 i.e. profit of investors increased in 2 years, Investment remain same.
But, in recent few days some of New and Small buyers invested their whole savings, by raising loans and also invested their money with dreams. They are helpless now.
So, Plan 2 is not fairb Distribution of LUNA. It consider only highest cost of LUNA. It is also necessary to understand actually investors invested in the project.
Hence, please consider the Investors actual invested Capital to LUNA Project market cap, in favour of New and small investors.
Because this plan will badly affect New and small Investors life whereas it is only small or big profit for Giant Investors.
Good news, at last, thanks @dokwon !
(By the way, you should improve your PR )
I feel frustrated to read about a hypothetical buyout & burn over and over again.
As far as I know (please correct me if Iām wrong) :
There is not enough money left in the LFG wallet to proceed ;
Sellers with big chunks could refuse to sell cheap, somehow blackmailing the team ;
The slow automated burning mechanism could be easily escaped by storing coins on a CEX ;
The UST is fundamentally flawed and must be abandonned ;
However, since Luna Classic will eventually be community driven/owned, the ācommunityā will be able to implement its very own burning mechanism on LUNC.
This gives a perspective to all.
Iāll stick with all the devs currently gathering around this rescue plan and the fork, Iām grateful they chose not to join another project and Iāll try to support their work as much as I can.
Dear developers! You need to use the experience of the EZ company. Exactly one year ago, their token was hacked. The price dropped to zero. Traders lost huge sums. To help those who lost their money, the companyās employees decided to pay compensation to each user individually in accordance with their spending. They created an application form, where they had to specify the E-mail of their account on the exchange, the balance of Easy (that was the name of the old token), a screenshot of their ledger and a personal wallet account, to which, in case of successful verification, compensation would come. In this way, EZ did not spend its extra money, but at the same time gained a positive reputation for itself and retained the value of its token.
Why donāt you share this experience?
Greater Staking Profits of Luna, Percentages into UST & Burn.
Stake profits, proportionally, airdropped supported into classic chain & burned.
Luna should support UST. UST should support Luna. Causal Loop.
Letās not ignore that this shook the globe in a bear market. Favor the small buyers like CZ said, let them help all the victims recover. It is an option. Luna could see the price it had again.
Host burn events, such as selling NFTās for the sake of burning profits, example buyback opportunity.
When UST stabilizes, fix the engine. Donāt throw it away. No fork. Just transformation.
The momentum of Doge. No INU, no SHIB, this is TERRA.
Youāve taken the global stage, but will you keep the spotlight?
Luna successors will reinvest and bootstrap the stakerās.
Kick-start the global market.
Take the stage, Terra. Become exactly what they all failed to be, TERRA.
*NO TO NEW COIN ! 1COIN 1 COMMUNITY Implement burn fees to burn no more ust We are tucs We are Luna! Thats building from the ashes. Airdrop ust holders original LUNA BURN BABY BURN we be back in short time the L1 has value THANKS TICS! -_-
Woh is going to put value in the new forked coins? Instead of fork reduce current supply with proper strategy. Without shame and ego follow the suggestions of brilient brains from crypto world who are sincerly suggesting the things to survieve from disaster.
Same question here, I bought wrapped UST (0xa47c8bf37f92aBed4A126BDA807A7b7498661acD) from my Ethereum wallet before the depeg and didnāt have time to bridge it to terra. Will I get the airdrop? If so, do I have to bridge it now?
They minted the circulating supply to nearly 7T beginning on the 13th and 14th and minted us into oblivion. This shouldnāt have been aloud to happen.
Mint should have stopped on the 12th.
Listen to cz binance
Reconnect network, peg ust to real assets like usdc and tether & burn the inflated supply.
The ones who held could regain value and the ones who sold, sold.
You canāt just create a new project Everytime your project fails. This is about to be your third project. Focus on building back this chain or the community will not trust you. Literally know one wants a fork but you and The people who sold on the way down. If we do fork they will just sell as soon as their airdrop is worth selling. And leave.
Donāt punish the prudent, please.
UST holders bought a stablecoin. Thereās a reasonable expectation attached to that. i.e. minimal risk in exchange for accepting less potential reward
LUNA holders bought a higher risk investment chasing a higher reward. They should not be prioritized for gambling on a higher risk choice.
I hold both, by the way, so this is an objective opinion.
I was against the fork initially. But these days I thought about the situation and I think itās right, let DK leave the project. It needs a strong leader to take its place. I suggest that we all invite Elon Mask and CZ to the project, their knowledge, authority and ability to raise capital will help save the project. #ElonMuskSaveTerra
I donāt understand why we are still waiting for action. All my investment was in luna and I lost. I donāt know what to do now and Iām just waiting with hope. Was it our fault for waiting for it to get better? I didnāt even give a stop order.
This is not a normal ICO. This is Revival plan!. There are giant amount of people who lost their money. Compare to this serious situation. Distribution plan is too much simple. So Can not conpensate all investors. The Distribution plan must be much more in detail!. āPre-attackā snapshot doesnāt make sense at all!. Much more case must be consider to compensate.