If there was going to be a fork idea, I preferred the last plan.
Someone please tell me how I can vote against this crook.
Have you read the propsal? Luna is not going anywhere it will be called Luna Classic, a new coin called Terra will be created and airdrops will be sent to people at the snap shot dates before and after the crash.
2 Likes
Why Do acting like a child. People money is not a game. Today this worked. Tomorrow is not working lets go V2. Few months later lets do v3. And who ever lost money on each version, is fine, because we are moving on to new version.
Why would UST holders be 25% ?
3 Likes
This isnt a video game where you can just start again. From my perspective the best way forward would be either to raise the funds across the crypto community and buy back, or add a tax to the transactions.
It feels like a fork has the potential to hurt more people financialy. A lot of people will try to raise extra funds to recover their loses in turn making further loses. I guess this is just a bad place to be for everyone, but lets not rush and make it worse.
7 Likes
Snapshot your Luna amount on 27th, and get airdrop.
What about Anchor? Why you didnāt mention it as an app for the future development? So you burnt us with a protocol that was a key pillar in the development of Terra Luna and now after making it fail you left us behind?
4 Likes
I hope no one is seriously considering this bait and switch. Lives have been ruined you do not get to walk away that easy.
3 Likes
It doesnāt make sense because they are essentially forcing you to stick with LUNA with a vesting period. The whole point was to make those who were affected most whole again. Vesting periods impose significantly higher risk and do not make rent money, food money, etc immediately available.
There is a reason why LUNA stakers got rekt the hardest in particular. By the time anyone will get their 90% distribution, the LUNA project will be done in the water. Who wants to invest into an ecosystem when everyone knows that after a certain date there will be a huge market crash and itāll be worth nothing?
This is Doā trying to save face. Iām sure heās got a legal angle to this and heās trying to save his skin.
2 Likes
curious why in the token distribution breakdown, luna staking derivatives are only specified for the launch snapshot (when value is hardly possible to determine, i.e., 1 yLUNA = 40 LUNA), but left out for the pre-attack snapshot. just an oversight?
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This would greatly benefit opportunistic later buyers. Why should they be rewarded?
1 Like
This proposal completely ignores the suggestions of the community and undermines the credibility of cryptocurrencies.
My story is that I recommended to my wifeās parents to invest part of their funds in the stable cryptocurrency UST, because this is the future and more reliable than fiat currencies now. It hasnāt been a month since they get 0 in their account because of you. And I have some friends with same situation. They disappointed in crypto because of your mistake.
No one else will ever invest in your projects unless you restore trust. Same thing told you Vitaly Buterin and CZ.
9 Likes
This is better than nothing. People debating the splits for airdrop needs to be realistic - are you really vesting into the new chain or trying to recoup your losses? If the former, you can still buy Luna and UST from open market right now to participate. If the latter - well you got to just suck it up fellaā¦ no really, this is better than nothing and as a securities investor you knew the risks of this beforehand. So donāt expect this to be perfectly matching your own situation. This is a generalized attempt and not for your situation.
With that, I do have some questions.
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What happens to TFL? TFL was one of the key strategic developers of the chain. Would they be included in the strategic dev allocation? I think there has to be some lock-in for TFL team in order to ensure the new chain is getting some traction.
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What happens to LFG? Would that be dissolved?
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Are there any VCs/Strategic buyers or would they be involved through the Luna airdrop to LunaC holders? Is any fresh capital being pumped in?
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What happens to dApps tokens e.g. astro? Would be up-to the Devs to migrate and decide?
p.s - Please include Spectrum. They are good devs.
Thanks!
someone knowledgeable please answer regarding 25% - UST holders
is airdrop based on ust user was holding ?
i mean i was having 970000 ust at anchor till 13th may
i will get more coins compared to user who is holding 500000 ust on anchor ?
thanks
2 Likes
This proposal does not address the date the team started liquidation of Luna. The pre-attack date should change to the start of when the team started liquidating Luna. There is a huge difference for investors that brought pre liquidating to post. Please update.
Forks have profitable for investors, Iām not against a fork, but a decentralized stablecoin is the only thing that keeps luna apart from every other layer 1 out there. Patching UST should be a top priority. Iām against collateralizing it but at this point letting users lock collateral similar to Dai is fine by me. The problem is UST was the biggest non-eth stable out there. It is absolutely essential to have a stable that is not controlled by big banks like USDC and tether are. Itās essential for users to be able to access their stable balances without the volatility of Eth gas prices. The reason UST was attacked is simply because it is a threat to the status quo. This attack should not deter but rather embolden the luna community. WE are on to something. The pursuit of liberty demands that we push forward with UST with the new awareness that this community has a target on itās back. The establishment does not want this to happen. They donāt want us to have money they donāt control. Letās show them why you donāt eff with this community.
There is a lot of opportunity. We got walloped, but we were targeted for a reason. We must fight back.
1 Like
This is just nonsense. The fork you want so bad is going to sink like a rock. Nobody is going to touch it with a stick, given all the people left behind with huge losses.
This is not what the community wants. Embrace Fatmanās proposal as also supported by reputable names like Vitalik and Cz.
Not to mention the idea to call it Classic is just garbage. LUNA has sunk and a new LUNA wonāt fix what happened. Refund UST holders and Terra will be saved!
7 Likes
It is better to fix this chain and burn extra minted coins and recover value pre-attack
4 Likes
speak for yourself
Agree with the burn. Like it or not a large number of your investors tried to help when things were falling and now we have a lot of coins with no value. Many you are trying to āmake wholeā sold out early and this will just be another payday for them while screwing over the folks that were actively buying. Everyone knew what they were in for and now we should keep going and build on what we have. Implement a burn mechanism and it is a value creator for all and is fair. Also, UST got 3bil in bitcoin for those caching out along the way, luna got diluted, so UST has had more than their fair share.
3 Likes
A BIG NO! What you are doing now is literally throwing all UST and LUNA holder who stayed on throughout this fiasco under the bus! Karma comes back, you dick head! Your new LUNA will not work cause no one will trust in it. You know what makes a successful business? Trust!!! You just shred it, burnt it and peed on it. Didnāt LFG said that they will compensate the smaller wallets with the remaining funds when they released the statement a few hours earlier? Why are you going back against that statement a few hours later???
9 Likes