I would like to know one thing, how much money your team needs to invest if we implement the combustion mechanism, or please explain why you don’t implement the combustion mechanism, there is an answer to everything, I want to know the answer
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Da Kwon, this terra recovery plan is not good.
The solution is not Fork. The solution is Token vesting and Token burn.
So here’s my Terra Luna recovery plan =
- Use your entire reserve and UST supply to Buy Back Luna supply.
Use these buyback Luna tokens to compensate affected UST holders and Luna holders pre-attack with 5 years of Token vesting. 1 percent unlock every month.
- And investors who believed and helped Luna’s price recover must get tokens for which they invested. Vest their tokens too. 1 percent per month unlock.
- And once pre-attack investors are compensated with Buyback Luna tokens, burn all remaining luna to help stabilise the Luna price.
- No stake, No fork, no relaunch nothing. CZ Binance is right. And Da Kwon you are right too about Terra that Terra is superior than UST.
So Prioritise Token vesting according to categories, like luna developer, creators etc. Lock their tokens for less time, and increase unlock percent for them to 2 percent per month. - Give priority to small investors of Luna and UST in re-distribution. Massive institutional investors can survive the low portfolio and hodl till price restores.
- Now what this solution will do is = saves the entire luna community and future investors too. Because of Luna token vesting for all investors (current and old), the old investors can’t dump the price at all and new investors will be safe to invest in Luna.
And everyone will get assurance and calmness that their money is safe and locked. And Luna saved everyone.
This is Optional = If possible add a buy/sell tax of 5 percent for creating reserves and a burn mechanism.
So with this solution, the entire UST community will become one whole Luna community. And Trust in luna will be restored completely.
And once luna reaches 10 dollars and more everyone can decide to either sell, hodl, stake (in future), or trade it on the open market and come back to reinvest profits in Luna again.
New investors can safely trade as usual without any unnecessary sell pressure.
So the solution is buyback and redistribute and burn. And vesting current circulating supply and redistribution. The solution is to kill the selling pressure of current investors from new investors.
Ask the community to lock their decentralised tokens and reclaim them via a vesting strategy. Centralised tokens can easily be vested by exchanges.
The Luna fork is not a solution. It’s completely unfair to everyone.
5 Likes
Prior to attack, I guess, there are around 700m luna. LFG might have around 200m? LGF is excluded from Airdrop. So 35% which means 350m luna goes to prior holders. Which means prior holders get 350/500=0.7 luna for 1lunac.
All those who bought after attack will fall under 10% category I guess. Which means each one gets 100/6600000? That’s 0.000015.
Is that correct?
25% for ust holders at launch snapshot (27th May). Looks like holders of 1ust will get 250/11000=0.02 luna assuming there are 11b ust out there?
What would be the luna price at launch?
You should include upto 13th may Luna holders to Luna Classic
But he is considering upto 7th may in Luna classic
I am a new member and cannot make a new thread but the following thing is on my mind. Maybe somebody could formulate it into a new proposal thread if my idea makes sense.
Proposal:
- Tag every wallet as “inflated wallet”
- Halt trading
- Wallet owners must transact their coins from the “inflated wallet” to a smart contract “Oven” which deflates the wallet to bring it back to the original supply.
- Wallets that fail to get deflated stay tagged and are useless until they pass the Oven.
- If its technical possible, coins automatically pass the “oven” as soon as they get transacted. exchanges only need to halt trading, transact to oven and back and trading can continue as the exchange wallet is deflated. Same thing happens when wallet owners send from their wallet to an exchange as their wallet gets automatically deflated on the way to the exchange.
- Wallets of mega whales holding huge amounts like 0,1%+ could/should be punished as there is a good chance that these are the ones accumlated a lot of coins cheap, sold before the crash, bought at an extremely low price or black swan actors. I think that would be fair and would promote a more healthy coin distribution.
Lets me explain why this is fair for everybody. This measure would immediately create a huge demand as everbody has the chance to still accumulate cheap Lunas for a low price at the moment. People who averaged down, will have the chance to get their wealth back. No complicated things like taxes etc need to be implemented. It’s a one time thing only and things can go back to normal in a relatively short time!
What do you think guys? Feel free to tweak this idea
i lost my hard earned money, please help me
LUNA i was purchases on Binance,
my first buying date- 05-11-2022.
I bought LUNA for $0.0014100 price with 35.43 ETH.
my second buying date- 05-12-2022.
I bought LUNA for $0.1027000 price with 6,210 USDT.
UST compensation plan
LFG vision
05/17 snapshot 1 week after
1 LUNA = 0.00168 UST
578 LUNA = 1 UST
In circulation UST 11.28B
In circulation LUNA 6.3T
UST MARKET CAP $1.6B usd
LUNA MARKET CAP $1.26B usd
05/07 snapshot pre-attack
1 LUNA = 73 UST
0.096 LUNA = 1 UST
In circulation UST 18B
In circulation LUNA 342.5MM
UST MARKET CAP $18B usd
LUNA MARKET CAP $26B usd
///////////// Conclusions /////////////
LUNA fallen to UST in 42 940 times.
And UST to USD in additional 10 times (as of time of writing)
$1 000 000 / (42 940 * 10) = $2.33
Because LUNA snapshot was taken pre attack it sounds like there is no need to stick with LUNA anymore. You need to buy more UST to convert it to forked Luna.
Sounds like a plan from where LFG will generate buying pressure without outside funding.
Those who will be first one - will bet a better value on their cheap LUNA.
Correct me if I’m wrong.
We all want our money back Please listen CZ to solve this
4 Likes
Listen to the community. No fork. Burn
6 Likes
I purchased Luna tokens only 2 days after your announced date on 30 USD! I could bought only 170 tokens with all my saving mony thats fully ZERO in value!
Also i kept the tokens in my SafePal wallet and not the official Terra wallet. So my money is fully gone now?
Just take a look at the exchange platforms. Traders buy millions of Luna with just few dollars while i paid more than 4800 USD for only 170 tokens!
Im not beginner in crypto same as like many other friend who are here. All of members here are professional. Just the problem was nobody even thought about Luna fully crash!
We just purchased Luna tokens in hope for turning back and not turning ZERO!
Is there anybody to respond our stupidity for trusting Terra and Luna?
To all community members like me:
PLEASE SUPPORT MY COMMENT IF YOU ARE LIKE ME
4 Likes
DK just wants to get more benefits for himself. Before the crash, he held a huge amount of luna and ust. He sold these coins during the crash, and now he is trying to get these coins back by airdrop. He has no regard for other investors at all. An extremely selfish person.
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WE DONT WANT A FORK ITS NOT SOLVING THE ISSUE.We need to have a lot of burning then restored the UST PEG.Forking wont help investors will just sell off luna 2.0.Just redo the ecosystem while burning LUNA.
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I agree that there should be some attempt to salvage the ecosystem and extract value out of all the amazing apps and investment that has gone before … However, another reason for this is also to deliver ongoing reparation to UST holders, via small ongoing tax, hypothecated to a fund distributed only to UST holders at the pre-attack snapshot.
As I read the many different solutions all of which have positve and negative elements - I reach the conclusion that a. there is no ‘ideal’ solution; and b. LUNA was a volatile asset which people held at risk, UST was sold as/ and meant to be a stable coin - therefore any monies left in LFG and/or the purpose of relaunching the chain should be as an enabler to re-funding UST positions immediately prior to the attack, in USDC !
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Can we clear this one out:
Is it:
or is it
Punctuation makes a huge difference in this one 
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Too little information.
First, Terra must assume all obligations to return UST for small holders of 1 to 1 usd. Even if it takes time or lock.
Secondly, Fork requires a real white paper, not a few words on the forum.
You need to spend more time negotiating with people who understand this and can help. As an example, Justin Sun, Vitalik Buterin, CZ
2 Likes
There are few reasons why people choose terra:
- their stablecoin
- their stablecoin
By forking the chain eliminating the nativestablecoin you are literally killing the system and destroying value for luna. The only way to SAVE THE ECOSYSTEM IN MY OPINION is:
-
Forking the chain but creating a overcollateralized native stablecoin community own. I believe that we can add also algorithmic ways as another security level.
UST was the value added!
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Hello Everyone, Hope you all doing well…
Thank you @dokwon for this proposal in this difficult situation. I have three comments:
1/ a lot of people lost their life savings because of the depeg. A number of them were borrowing against their holding: bluna, UST, etc. in various protocols and exchanges, on/off-chain. For, goodwill, fairness, your proposal should explicitly list all the protocols and exchanges that will be involved in the airdrop. For example, you supported the collaboration between Terra and Abracadabra through Anchor. A lot of people lost their UST savings in Abracadabra because of the depeg. What can we do for them?
2/ the distribution seems unfair, it should support small wallets.
3/ the lockup & vesting seem unfair. We should drop lockup/vesting on small wallets UST holders / luna/bluna holders ( < 50k or so)
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I have no idea, if I will be part of the airdrop… Have been holding Luna for months and months on exchange(s) small and big. Big being Binance small being local (dutch exchanges).
So what will happen ?
Because there are no reserves.
No refund for UST holder ??. What’s
1 Like