Great job!
Opinions come very easy. I wonder how many people here would have the courage to stablish a plan with this preasure.
My advice @ Do Kwon:
Rely in the main exchanges to automate the most the process as many users are not dealing with wallets and similars.
Rely in a trusted team the most you can. Try to sleep and disconect too if possible to ensure that the many work hours are productible.
Make history!
Best wishes my friend and thank you so much for be there!!!
this is not the will of the community!
you are a fake person and probably a criminal!
This is a VERY BAD plan for the following reasons:
We DONT NEED ANOTHER LUNA
FIX the current $LUNA. BURN THE SUPPLY.
what happens to those of us still holding UST ?
Could not agree more with this post. People that have been failed by UST donāt want Luna 2.0 that may or may not have value one day. We want our money back. Thatās it.
If UST holders at block 7544914 were to be distributed current LUNA, what would the rate be.
I was thinking something like at the moment of that block: UST-USD rate divided by LUNA/USD rate (for example say 0.9/80) = 0.01125 LUNA per UST. Then inflate it by the supply inflation to be ~19000x more, or 213.75 current LUNA per former UST.
Context would be in terms of using all the current holding to buy up LUNA, distribute this amount per UST to holders at that block, then burn the rest.
Can anybody provide the exact rates, it may be useful to consider, as it seems clear the only path forward is to unify everybody under current LUNA with no UST.
this new token will go to 0 as soon as they receive it, LUNA makes no sense without ust
Good evening Mr. Do Kwon,
Iām a small investor, that as many others believed firmly on the project, and felt safe with it.
However, I do believe this proposal is not fair.
Letting go on UST isnāt a solution. UST is the reason why many of us invested in your project, be aware of this please.
Making a fork now that people lost totally confidence? How long would it workā¦ As soon as people cover their losses on the new project (if itāll ever even get to exist)ā¦ adĆos amigo! I would defenetly do it myself at this point. Lack of transparency , vague answers, rejecting to listen to a community screaming out to react with real compensations for all affected from this crash.
Still hoping in some REAL good newsā¦
Donāt mean to be harsh on a stranger, just listen up to the community please and make the best you can do out of this disaster.
You canāt beat the crowd!
I get āAn expected error occured with compensation poolā while attempting to click on Enable Compensation Pool in the revive-terra.money link.
Did you guys manage to join compensation pool? Iāve been trying for the last hour and still nothing. All the money is already compensated. This is unfair. Everyone got compensated while Iām getting an error.
Please start burning and ask the community to burn some tokens. I will be the first person to burn 50% of my wallet. If anyone agrees with my suggestion, press Like
Once there is an asset on the market, you canāt simply choose between what class of investor (who bought before or after the depeg) will have the money back or not. Thats not how the world works.
If the problem was generetad by exploiting the algo, it is up to the Terra team to build up a plan to burn the extra supply. That is the only way of making things better without being sued by everyone on the community.
If things are bad right now, imagine regulators from all over the world coming to you.
Its just fucking dumb the attempt to fork the coin and get the confidence back without fixing the inflation issueā¦
This proposal heavily hinges on the current Terra ecosystemās foundation and momentum to thrust past the incredibly staining reputation these past few days have caused on its name. If Iām being incredibly frank here, I have not seen one apology from Do Kwon in how he handled himself in the public spotlight and the lack of transparency with which he addressed the state and condition of the death spiral. What incentives do outside people have to stake in this ānewā project?
I wonāt presume to know the developer side of project and itās robust nature, but I canāt imagine a thriving project with Do at the helm. I honestly would rather have a hybrid solution where LFG airdrops the lost UST to the 99 or whatever amount% of small wallets to make whole the lost investment, and then remove the 35% off this proposal. It sounds like most of the UST holders donāt want any part of Terra. That way whatever the 1B new luna tokens can go towards people passionate about the Terra project.
I find it truly astounding how many bad consecutive decisions have been made recently by the people (or person?) behind this ecosystem. Itās like when the ego totally blinds someone to reality.
Hey guys. This proposal just passed: Burn The Remaining UST in the Community Pool + Cross-Chain Liquidity Incentive UST
Anybody know when it will be implemented?
If implemented this will result in a bump to USTā¦also result in more Luna being mintedā¦
Gonna need about $10 million of that 4% you proposed for **Essential Developers in this new proposal to help develop a stable coin on the new forkā¦
Approve the proposal approved by Vitalik and CZ. Fatman proposed the solution. No one wants this and you already know it
!!!
How about people holding UST on anchor wil they be included ?
anyone feel free to answer if you know
What happens the the people holding on to the Luna coins ? i burned over 15k$ when Luna was falling and after the chain was stopped I bought up a 100 Mn coins still believing in the project. This proposal is a slap in the face of those who remained loyal to the project to make rich whales whole again while not caring for 99% of the small holders. If you have the resources to fork then why not buy back and burn ?
Do Kwon, you realize most of us are up a lot on LUNA but down much more on UST. LUNA is a speculative token, UST was supposed to be stable. I am also down over a million on UST and you have infinitely scarred my life. This plan is even worse as it compensates UST even less and still takes it out of the chain.
Step aside, take a secondary role. Get external funding to restore UST. Someone like CZ would be ideal to step in. A new layer 1 without UST aināt jack. I believe a $5 billion injection would be enough to save Terra, and that person would be able to profit much more than that investment over the long haul.