Why on earth would you take a UST snapshot at launch?? That completely screws over everyone who was holding UST and bailed as it was tanking. Now we’re going to reward opportunists buying UST at 10 cents on the dollar?? That is complete BS. The UST snapshot should be pre-attack just like the luna snapshot. You’re punishing people for not staying on a sinking ship.
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i will be back to comment
How does this proposal make sense? 25% to UST holder at launch of the fork? Theres ppl buying UST for 0.05 on the dollar righ now, meanwhile us hodlers beleiving in the chain have been holding UST all the way down. Imo the supporters of the chain should be given more than some ppl speculating on the new chain and buying luna/ust for a fraction. For example looking at multiple snapshot before and after the depeg, to see who is/was supporting the system. Otherwise you are giving money to the weak hands, who were selling at 99% and rebuying now to get the new tokens.
Support the supporters of the chain not the traders who just think about profit.
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I have my UST locked up in a loan from Kinetic
Thank you!
First of all, I want to applaud you for still being here and trying to work it out. Many thought you disappeared with $BTC.
Secondly - you should take a look at this forum. Many are investors who bought the dip to gain some quick cash (including me), maybe you should implement a mechanism to keep these people out as they do not have the best interest of $LUNA and TFL in mind. Obviously.
For me, it seems that Burn is what the cool kids wants (CZ, Vitalik and a majority of the noisemakers on Twitter). Why did you decide to ignore this idea? Could we at least get to know this, before the investors vote? Everyone has something at stake here, and we all want TFL to succeed for one reason or the other. We want some transparency.
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whatever man, do it, we are broke anyways.
and for those saying “BURN BURN BURN” just stop it, you don’t understand what are you talking about.
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Hey @CryptoKMS - that is not correct.
Receiving 10%
This means that 10% of the total supply (10% of 1B Luna tokens = 100M Luna tokens) would be split across everyone who holds Luna Classic at the time of the new Launch (2022.05.27 03:59:51+08:00).
This would likely be handed our on a pro-rated bases. You would receive whatever portion of the total Luna you hold.
If you hold 1% of all total Luna Classic, you would get 1% of that total 100M new luna tokens. There is alot of Luna in existence. So you would need to figure out how much you own of all tokens to figure out how much you would be airdropped.
I’ve excluded some example math at the bottom.
Vesting Period
A vesting period means that the total amount you would get in the above section is given to you over a certain period of time. What ‘10% unlocked at genesis, 90% vested over 2 years thereafter’ means is that:
At the time of launch, you would get 10% of the total amount you should receive based on the calculations above. Over the next 2 years, you will get the remaining amount.
Example Math
Lets say I own 10M Luna
Total Amount of Luna Classic in Circulation = 6.5 Trillion
Amount of Luna Classic I own = 10M
% of the total amount of all luna classic that I hold = 0.00154%
Total Amount of new Luna being airdropped to Luna Classic holders = 100M
Total Amount of new Luna that I would recieve = 100M * 0.00154% = 153 Luna
What would I get upfront = 15.3 Luna
What would I get over 2 years = 138.45 Luna
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Should add the ceiling of ust holder, such as 25000 ust.
That the retail and small bag holder can get more then the whale.
It will be fair.
Also, the whale who attack this shit should not have allocation of new luna.
If it is difficult to do, please add the ceiling let the retail get more reclaim.
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People who didnt lose shit can just buy ust on open market and speculate they have nothing to do with ust holders before depeg??? What the f… is this nonsense???
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EASY GUYS ! Scrolling through and alot of people are asking for BURN.
→ Simply answer: Burning is impossible now due to lack of funds. Reserve left only 200m+.
Read this tweet for more information: https://twitter.com/LFG_org/status/1526126703046582272
Taking a snapshot at “Launch” is the correct way. We are all investor buying into a coin. What make your coin more valuable than others?
I do think the only issue is UST 25% are not further split to reimburse “pre-attack” investor.
If you agree with me . feel free to copy and paste my reply .
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Spot done
Man you are crazy, only a 10% for the Luna holders at the Launch snapshot? And of this 10% only 10% unlocked?
i have UST 33% locked in anchor protocol and 66% locked in binance staking. Still I am holding them, but I have the same question. What I have to do next now?
You’ll be included. What is not clear of: 10% - Luna holders (staking derivatives included) at the “Launch” snapshot?
Wow thanks for robbing me of 14000.00 and diluting my LUNA into oblivion…and your response is just take it. Let me explain something DO KWON…you marketed a product (LUNA) and UST with an algorithm that plain failed us…you told us your system was stable…it IS NOT. That means you are either guilty of negligence or fraud or both. I can’t wait till someone with some money left hires a lawyer and launches a class action lawsuit against you which I’m sure will be the final nail in the coffin for TERRA.
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BURN LUNA! BURN LUNA! BURN LUNA!
I am sure that there are many large investors who can support the project! Just listen to what the community is telling you!
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I don’t think you realised that over 90% of the people both here and on socials do NOT want a fork but insist on burning the excess supply. While we do expect it will be a hard battle both in development and financially for all of us to recover money and those that supported the death spiral from falling faster, we expect communication and for our voices to be truly taken accounted for.
We don’t expect overnight recovery or overnight solution, but we do expect replies. Please listed to the community and burn the supply. UST has failed but that doesn’t mean it cant revive trough some changes in the future (like 1:1 dollar backing to compete with USDC)
WE WANT a BURN and we WANT Terra to succeed and UST to revive in a more solid manner.
Please listed to us who have this project at heart.
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So basically I had ust and now I’m going to have luna I don’t care.
I put in stable, not to have a token that will fluctuate. And besides I’m vested 2 years. In 2 years the price will be 0 because no one will want to invest in a token with this heavy history.
Then you allow guys to invest now to get an airdrop. I’m not here to gamble, it’s my savings…
No one wants this FORK other then the BIG VC’s that have big BAGS!
Just focus on what you have failed and keep on burning current LUNA supply and rise from the ashes!
Most probably you will not care my comment since big backers are not going to let you care my comment…
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Gonna keep it short. Clearly he doesn’t want to do the burn. No amount of fundamentals are going to fix this project, forking an already shit project and expecting the trust to come back is the most foolish thing I’ve ever heard. And even if the community votes against this, Do will find a way to get what he wants. Seriously the biggest embarrassment in this space, but hey at least you made a lot of money right Kwon? Lol