Please reserve me for the AMA
Apparently you are the only one who does not understand that LUNA is a token to speculate and UST is a stable currency with parity to the US dollar. Now you launch a new chain and forget about refunds, because if the new token is a success everyone will be able to recover its value but if it is a failure âthese are market thingsâ I want to tell you directly that it will be a complete failure and no one will trust you and the token will go to zero in a matter of weeks. As we say in Argentina, sos un pelotudo, un grandisimo hijo de las remil putas que merece a la yuta en la puerta de la casa para que te lleven directo a la cana, tomatela con tu tenedorrr de mierda, sorete.
2 Likes
Get ready for another free fall! This has FAIL written all over it. Right now you guys need to earn the trust back and that is only possible if the existing coin is revived. NO BODY WANTS A FORK! Just burn the excessive Luna that diluted our money into pennies! THAT IS IT!! Your new coin will crash the moment people will be able to take their money out of it. NO BODY TRUSTS YPU OR YOUR PLANS ANYMORE DO! Try and understand this simple thing!
I wonder why are you so hell bent to get a do over, are you trying to save the money that have filled all of yâall pockets?? The whole community has been shouting BURN on the top of their voices but you just wanna act deaf because thatâs gonna cost you the billions you just stole from everyone!
5 Likes
Burn is the best solution
5 Likes
But wait⌠if I understand clearly⌠the snapshot before the "attackâ also means that the few VCs and insiders who exited OTC with the 80k+ BTC reserve will be abble to exit twiceâŚ
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07.05.2022 (After the attack) Is there anything for those who buy Luna? I do not fully understand.
At this point man, i think you should leave it to the community to decide and let the cards fall where they may. NO ONE trusts your leadership any longer. You have one last job to redeem some form of your honor left. completely hand over the transition to the community and get tf out.
you donât even respond to some of the best ideas here to discuss. you simply come and announce to us what will happen next and for us to vote like we donât have much of a say.
No one cares about a Fork, for any of the major platforms BTC and ETh which forks have been successful ?? compared to the original.
WE DON NOT WANT A FORK. Get with the program.
if the burning does not work then then at least the community knows they tried and werenât dictated to by emperor DO.
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In both ways discussed, fork or burn, prices will not easily revived. Maybe to let intact current supply of trillions of Luna is the best choice. Just set a mechanism for no new tokens generation after the halt. The destiny of this coin, was to finally have the same value with ShibaINU
make $lunc deflationary till $1B coins
!!!
2 Likes
Mind blowing.
In addition my suggestion
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Lunc supply should be brought to 21 million by 2030 through burning mechanism and celebrate 8th may ( SALUTE TO BITCOIN DAY) and be used as currency.
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Terra be the new token to replace Luna.
This will make attraction in both. All will be happy.
Thumbs up
Screw this, noone wants this and you know it. The fact that @FatManâs reply got more likes than the proposal is all the more proof of it.
1 Like
This is terrible idea, i brought at $30 lost all them, brought more at $1 lost all them, and now i have brought 500,000 to try and get some of my big losses and im told if i swap them for new coins 500,000 á 6.5T x 100000000 = 7.5 coins there coming on market for $1 i could get more than 100 of them if i sell now so people buying luna now keeping this company alive are gona be shit on, a trade is a trade it shouldnt be buy this many but you wont even get a fraction of them.i have been 3 times now. I do not understand the starting from scratch i just think you salvage your massive mistakes you made with the coin every one has been in, or the buissness should be done an over.you canât make the worst decision as you have with UST and LUNA and say this wont work now we need to start again.whats stopping you from starting again over an over the ratio in what every one paid in UST and luna to then get this new coin at a terrible price. 3b daily trades which has kept luna alive as every one in this crypto space has said it over dont buy, to be rewarded by giving 14x less then what i paid for it, not including my 100% losses i had twice is a shit deal.either put a burn tax on buys and sales untill tokens are near the 1b.also use the tax on burn to give money back to UST holders,an luna Plus as soon as every one gets these coins that go on market for $1 there just gona be sold straight away, atleast with the burning over time you can get new investors over time see the new projects and really get involved an believe again. This new coin is just gona be a sell frenzy an when your paying x14 more for them kick in the teeth.
link to revisions proposal: Revival Plan 2 revisions
revisions needed:
First, the great new revival proposal is the full recognition of the likelihood/legitimacy/viability of the âClassicâ chain. Some enhancements of this feature:
Upon complete vote in favour of ârevival planâ, validation/delegation will be opened up to âLunaClassicâ current holders, with condition of veto/overturn-proof protection of approved revival plan. v1 governance needs to first approve a higher cost governance propsal listing fee. But, they may want to make v1 value proposals right away.
Let v1 chain determine what branding name to attach to their token between fork. I propose Luna1 as a candidate.
Upon acceptance of revival plan also offer source code to Terra tools either as open source, or to v1/classic governance approvals of teams to obtain the source.
Terra v1 and v2 should commit to IBC cooperation between the 2 chains. Settling naming conventions is perhaps the only prerequisite.
TFL/LFG assets on v1 should be transferred to âv1 governance approved v1 steering teamâ
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First guide to analyzing proposal is assuming a market value. $5B Luna valuation is reasonable post volatility period, with $10B potential within a year or @$60k/btc value. But $5B-$5/luna is used here as âvalueâ
Some pushback on distribution allocations:
30% to dev/community is $1.5B. This is high. Would $500M (10%) still be a signficant development fund that can promote development on Terra vs other chains? If so, that is a big pool/funding source for others.
Paying v1 UST/Luna holders a fraction could be a lower fraction. By providing v1 with governance and software tools to set their own viable future, âweâ are helping v1. Taking away from their fraction of new luna is compensation for the value of cooperation.
re: UST holders: 10% unlocked at genesis, rest vested over 2 years thereafter
Iâd suggest instead first $10k in UST ârewardsâ unlocked at genesis. Rest vested. UST holders temperament is against volatility. This would be a âcheapâ measure to help UST reward recipients, and those at most risk of harm, cash out if that fits their needs/anxieties.
All of the above cuts are funding for remaining/new groups.
A UST snapshot date, that represents when UST first broke 50c, may 11th 3am, probably coincides with massive luna printing events that fundamentally changes the v1 vs v2 value dynamic/impact, and defines the âDAO-hack-equivalenceâ moment. Using UST value at that snapshot point as a reward basis means compensating only those who did not cash out prior to that point (if they did, they are better off than any revival proposal).
Such a âdoom pointâ UST value should have a much higher compensation formula than USTclassic balances. USTClassic can be saved by v1 governance if they want. Perhaps it is at 10c or 1c. Iâd buy at 0.1c and stake in AnchorClassic for sure, with LunaClassic burn proposals.
But, given a fork, saving those that need âfork pointâ rewards, and UST doom point can be different than Luna âdoom pointâ that is current basis for rollback, makes more sense than rewarding the 5/27 v1 value.
âBonded Lunaâ is not precisely defined in Revival2 proposal. Iâd suggest that it should include UST and Luna LP provision. That fundamentally helps/helped liqtuidity in difficult times (⌠including current v1 times) The above suggested âUST doom pointâ (may 11th) may be more appropriate than the Luna doom point/fork point of May 7th. The 3am May 11th point, is also the time Luna price fell below $0.20. So a good time for âall hell broke loose for everyoneâ point.
summary
honest/cooperative assistance to make LunaClassic chain viable is a good pretext to clawback rewards from some allocations in order to give more to Luna and UST holders at their respective doom points.
v1/classic can make their own v1 rewards by funding v1 efforts. We will all hold v1 and v2 assets that permit our freedom to choose investment in our preference.
simple just call / report nine one one
please dont waste ur time and money bro.
can someone bring me the formula to convert luna from pre-attack to new luna? thanks
2 Likes
NO SIR! This will be not the way we want! The UST ist history, but LUNA must live as LUNA. period
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I think you should include people who held UST âPre-Attackâ in your compensation plan. Many people used EthAnchor to bridge stables over to Terra and the backlog of those trying to exit their UST positions caused many to sell at .50 or less rather than ~.98 or whatever the peg was at the time they initiated their transfer. These people took a huge haircut and were left in limbo for multiple days; not knowing how much, if any, stablecoins they would receive. These people should be made whole again. If they initiated an EthAnchor transfer anytime after the attack they should be given the remainder of their funds, regardless of when EthAnchor processed the transaction.
Example: Sally invested $3500 in USDC through Orion.money, using EthAnchor to bridge over to UST, expecting to earn 15% interest. Sally panic sells during the depegging, expecting to sell at .98 cents on the dollar. Her transaction is stuck for 3 days and she eventually receives $1000 in USDC. Sally lost $2500 simply because a protocol was backlogged. She should receive her $2500 from the same fund that is being used to make restitution to Luna holders.
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I bought LUNA for 62.19 USD on 8 of May, 18:38 GMT+6 didnât even suspected anything was attacked!
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Agree with you! If will be there a fork try to not use ClassicâŚ
What about Dark LUNA and thiker $DLUNA? Changing background colour to black
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@fatman - First, I appreciate your thoughtful proposal and how tiered repayment benefits the overall ecosystem and value of Terra 2.0. In the same spirit, it would be helpful if you could advocate or clarify the following.
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UST holders - clarification on token distribution in the Terra 2.0 vs LFGâs twitter announcement on LFG balances as of 5/16 and intent to repay smaller wallets first with reserves. Assuming it will be a blend of repayment and Terra 2.0 tokens?
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Request to breakout UST holders at âLaunchâ/ Terra 2.0 Genesis:
a. Pre-depeg UST holders at âLaunchâ snapshot - who were holders at the depeg and bought it as a safe haven stablecoin
b. Post-depeg UST holders at âLaunchâ snapshot - new holders who bought at a significant discount, speculation play. Note: This stakeholder is still valuable because they created liquidity for those that were willing to cut losses and get out, also they potentially can be the âangel investorâ for Terra 2.0.
Importantly, if there is no distinction small wallet holders 2a that used UST as a savings instrument bought at 1.00 peg and significant value loss VS 2b who bought in at [0.10 UST] with no financial loss, a portion of new 2B Post-depeg UST holders could presumable profit from LFG reimbursement at the expense of recovering 2A pre-depeg UST holders as much as possible.
1 Like