No to fork pleas burn as cz suggested .
You are killing us .
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you obviously have no idea haw UST and LUNA worked. The LUNA was minted by people who bought the falling UST knife. Not by the team. Those LUNA are possessions of the people who actually tried to arbitrage it back to peg. You cannot cry for them to burn UST and then cry about the results
Is it to late to reserve a spot?
Preliminary vote poll. Participate and letâs see how this may turn out
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Fatman, you better lead this now. This guy has literally lost his mind and doesnât care for the people who believed and bought and are still buying just because they went along with hope Mr. do nothing showed in his tweets right after the depegging crisis. He has no regard for the small holder and makes it even clear that his forum and community means nothing to him.
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Dear Do Kwon, I see potential for Luna recovery and realize no plan is perfect. By clarifying the following, I think you can garner more support and confidence from UST holders.
Per your own words, âhow you respondâ will have a lasting impact. These nuances may amplify a successful recovery and help regain confidence from all stakeholders, including UST holders and future stablecoin investors, which ultimately determines the success of Terra 2.0. The brand means nothing without stablecoin investor confidence. Actions here (particularly with UST holders) may also shape the impressions of regulators, which has an even great impact to the crypto ecosystem.
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Request to breakout 2 classes of UST holders at âLaunchâ/ Terra 2.0 Genesis + old UST holders
**____a. Pre-depeg UST holders at âLaunchâ snapshot - who were holders at the depeg and bought it as a safe haven stablecoin (see additional comment below on info asymmetry impact of blockchain halt)
____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.
2. Clarification for UST holders - Will there be a blend of a) Terra 2.0 tokens (25%) and also b) LFG reserve balance repayment starting with smaller wallets (per twitter announcement at 5am EST today)?
Some repayment (analogous to emergency allocation for devs) + potential upside in the new project would make the most sense.
3. Proposal for investors that Sold UST at discount post Depeg:
To address UST owners who sold at a loss, perhaps there can be an LOI to offer the option to purchase Terra 2.0 LUNA at a discount, once it recovers and the market for asset is stabilized. Acknowledging and addressing a solution for this cohortâs losses today, could be of value to the entire ecosystem.
Information Asymmetry Concern
Please note that (Pre-depeg UST holders at âLaunchâ snapshot) did not have the same benefit of other pre-depeg UST holders that mitigated losses and sold between May 9-13. The blockchain was halted when UST was trading at much higher values (~$0.40-$0.80 USD) and these holders had fewer risk mitigation opportunities. Also, there was asymmetry of information as new users were not being accepted into the discord. While I understand it was important to reduce noise in discord from bad actors, it also created information access issues, where some investors had information that others were not privy. While there are no regulations in crypto today, we should set a moral standard for what post-regulation governance should look like.
@FatMan - would love your support on these points too!
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We just all need to keep trading current/real LUNA and hold it. Do NOT buy the new V2 garbage. Donât support any apps or services which utilize V2. Boycott them
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why fork, along with all the doubts from the community?.
this looks like someone lazy to clean the house so he just buy a new rugg to cover it up.
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I vote no!
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I found Dark Luna to be the perfect name. Thanks!! lets try to make it happen.
The selfish founder is still thinking about his own interests. itâs disgusting. Do you think you can become it after issuing new coins and forking? The new currency will fail faster, your wishful thinking will not be accepted by the market, you are so selfish.
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where`s liquidity provider? They are the beginning of the Luna and the UST price defence.
If he doesnât do it based on circulating supply at the time user bought their tokens then the number of new tokens granted will be worthless. So since he has no given a CONCRETE example as I read it now if someone held 10M luna classic on 5/27 then we can calculate:
#oftokens_owned/circulating_supply*100M = (10e6/6.5e12)*100e6 = 153.85 tokens. This would basically render the quantity of tokens to be negligible because he now has scaled down the number of tokens by a factor 65000. He doesnât explain this clearly and if this is the case then people who are in the 10% buying Luna AFTER the attack will be granted a negligible number of tokens or Luna_V2_Tokens = (Luna_Classic/65000). What he should do is determine the number of tokens as a fraction of the instantaneous circulating supply as this would be the only reasonable option. People who bought when the marketcap was still only a few billion and obtained lesser numbers of tokens will be grouped into the same category as people who bought when the marketcap was 6.5 trillion and amassed massive numbers of tokens. The later would win out and the former would be screwed.
Different Proposal (for the masses)
It is pretty evident that there wonât be consensus on the idea of a fork and it is totally understandable. People are motivated by reward/greed so most proposals out there actually reflect the inner desires of their supporters. Those who jumped ship believe they deserve to be compensated and those who bought the dip want the current protocol to continue as is (they have put in over $1billion, so their position is fair). There seems to be no compromise to satisfy both parties.
Unfortunately, the fork will really go as planned and the de-pegged Luna investors will be left to hang, but my proposal is for a truly community-led governance of the current Luna protocol (irrespective of the Do Kwon Fork). Part of my reasons include:
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Trust under the Do Kwon-led governance has been broken and with a track record that includes similarly failed projects with strong accusations of impropriety, there is no way Do Kwon can lead the new protocol successfully. He has to STEP DOWN. This is unconditional and has been reflected by influential people in the crypto space including Guy (CoinBureau).
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The TFG, despite releasing a statement about how the reserve BTC was used up, have provided no evidence of such transactions. Yes, there was the transfer of BTC to Gemini but no further records of how those funds were utilized. CZ had called for more transparency but to no avail yet this same group would lead the new Terra Classic (or whatever it will be called). Iâm yet to see how the thriving developer community would trust these folks to guide a new movement for Terra.
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UST is truly done and updating the current protocol is entirely possible without a fork, and if this Old Luna is devoid of Do Kwonâs cunning, I believe well-intentioned community members can lead the project on the right path.
I am in no way debating whether UST holders require compensation or if there should be a fork, in fact, I believe the fork presents an opportunity for a properly governed Luna which can happen on the current chain or can be mirrored on a new chain without the underpinnings of the un trustworthy bunch who are clearly only after their own gain.
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By forking, he is removing himself from LUNC in a save face manner. U know u havenât performed well at your job so Itâs like quiting your job before your boss fires u. Or in this case, before the community fires him.
If fork then LUNC Community takes matters into their own hands and LUNC becomes truly community owned. Anything is possible, what if LUNC revives itself from ashes and new LUNA is DOA?
Any network platform needs users as the blood to run a network. All the Users are in LUNC, LUNC will revive somehow. Tell google to abandon all their users, drain their google wallets to zero then create Google v2 and ask their old users to come to v2, would u go over there?
This plane has been hijacked, itâs time to stop being a passive passenger and work together to save the plane, take control of the cockpit and steer the plane back to safety.
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Are you serious? Just starting again like if nothing happened? Like if you just lost a round in a video game? Iâll manage to get my money out of your throat, no matter how much time it takes.
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This is such a bad idea⌠Have you not been listening to the community at all? We do not want a fork, just implement the burn mechanism. I kept buying Luna on Binance in an effort to save it, even when my previous holdings had gone to zero value. What happens to all the Luna that I bought until I couldnât anymore? You are abandoning everyone who fought against this attack and arenât even saying sorry for the bullshit hopes you gave us!
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Someone correct my math. cant possibly be rightâŚ. Right???âŚ.
Assume 7,000,000,000,000 LUNC coins at launch.
1,000,000,000 LUNA for distribution.
10% to post âattackâ LUNA holders (100,000,000)
You are holding 1,000,000 LUNC (arbitrarily DCA down and obtained for $5k)
You will receive 14.28 LUNA (1.428 of which will be given up front and the remainder over the next two years).
1,000,000 / 7,000,000,000,000 = 0.000000142
0.000000142 x 100,000,000 = 14.28
Going to need a nice rally to $350 to break even⌠in two years. 
How is this even a proposalâŚ
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Dear STABLEkwon,terra is UST and trust.You lost trust and now you are going to loose ust for your huge ego.Refund UST holders before the peg collapse and start from the small wallets.You lost,but loose like a hero.There are a lot of blockchains outthere.Terra developers can continue this excelent job.I cant continue watching luna token treated like prostitute.
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I mean⌠Why is no one talking about the attackers???
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