Why create another token when you canât even manage 2 tokens?
If you are really dedicated in preserving the ecosystem then better listen to your investors because you owe them. I can see that majority of people here do not want the revival plan you presented. We know it is not easy for the devs to come up with solutions as negativity surrounds this project now but you have to consider every possible solutions suggested by the community. Otherwise, you are disregarding the essence of decentralization as your project is promoting. We understand that devs are put under pressure and if you need to breathe then do it because after all you are also human beings. We still hope for the improvement of the situation and eventually overcome this nightmare.
Read again please. 35% for luna and ust holders for âlaunchâ snapshot is too high. It invites people to game the airdrop by buying ust/luna then sell after. Luna should go in the hands of the community, not airdrop hunters.
And only 4% for builders, itâs too low. The builders is the chance this chain at being successful. Make them invested by giving a bigger slice of the pie.
@dokwon Can you or another LFG member acknowledge @FatManâs proposal directly and explain why you are or are not willing to set aside a portion of funds for tiered repayment? Even if it were only up to a cap of something like $20,000 USDC per wallet that had aUST pre-attack, that would make such a massive impact in making the less wealthy holders whole as well as ease the impact of any wealthier holders with wallets in excess of $20,000 (or whatever cap is decided upon). The capital necessary to do so would not be insurmountable. And it would have such a positive impact on your community members who trusted the stability of your stablecoinânot Luna, not a speculative asset purchased with the expectation it will appreciate in price, but your stablecoin.
I feel like Iâm missing something here. UST holders are getting a lower % and also only based on launch date? Meanwhile LUNA holders get higher % and combine both pre-depeg and launch snapshot?
Why nothing for UST purchases since depeg, and why less than LUNA?
To be fair if this revival plan gets approved then there is no hope left, this genius burned all the reserves on UST without a plan then left the printing machine on until it destroyed Luna, even more having 0 transparency to the point of disappearing from twitter.
And the big and new plan he thought is⊠this. People, doing a fork is useless, it doesnât add value, if you want to truly try something you should work with what already exists, rather than compensating with the new Luna you could try to compensate people with the current one then start a few burning procedures that donât imply a cost for you seeing how you wasted all the money:
-0,2% burning fee on transactions
-Voluntary burning procedures
Those 2 already would be a good way to burn Luna without having to spend even a dollar, but you know why they donât wanna do it? because they would have to use some money to get normal Luna tokens to compensate those under UST.
Do you want those fleeing to get back into their cages on their own? Your idea is too ridiculous, not to mention whether or not Luna can be resurrected, the actions of DK and his team alone are disgusting, the first wrong decision can be said to be an accident, the second and third settings are the current recovery plans. Itâs 90% opposed by the community, if I were a runaway, I would never spend the only money I have to drill into that damn rat cage and take unknown risks
Making a new chain is not the best idea. Stop trading on all exchanges, make a snapshot before the attack, also coordinate with all exchanges, let them make a snapshot too. We do not touch the balance to all old holders (if they did not sell during the recession and did not contribute to the price drop). Next, who bought on the decline, we reduce the balances 1:10000 (if someone has 1 million coins, then 1000000:10000 = 100) and burn.
In total, we will have 650 million coins left
We donât trust your New Luna when youâre willing to throw your Old Luna under the bus. You canât just erase your mistakes. Fuck off, youâre done.
Adrojo thatâs harsh. It wasnât complete speculation it was a faulty product as well, as it turns out. Buyer beware doesnât extend to selling something that is fundamentally flawed and perhaps made so recklessly by the supplier.
The problem many of us face is that the rules changed part way through and keep changing. That means the rules of fair free market simply cannot apply. And the problem is, if we just carry that as consumers, then confidence in the entire crypto market is shattered.
Look at what we have learned: the biggie for me is that they can halt the blockchain when things arenât going right and thus screw over people who are trying to keep the ship afloat. And if they can do that, who else can, and how do we know we really have control of our assets? Big shocker: we donât, apparently.
I was personally hurt by missing an important close for that precise reason. Good trade: rigged game is how I call it. Nothing to do with legitimate risk.
As far as I am concerned the most important thing is to bring back a fair market as quickly as possible so that confidence isnât lost. That means consistent rules one can depend on through thick and thin. It may cost us now but the alternative is horrible contagion throughout the crypto world. See, next time the market doesnât go quite the way people like it, how do we know some bright spark wonât just pull the rug right out from under our legitimate efforts and cost us millions, âto save the currencyâ? This is the shit weâre all trying to get away from, and if crypto doesnât provide that, what purpose does it have?
Like many of you, I lost a significant amount, $200K combined in (mainly) UST and LUNA across various DEX, Anchor and in coins before the attack. I have âskinâ in the game from many angles, so Iâm sensitive to the various viewpoints.
I have been paying very close attention to these proposals and the changing narrative from Do and the LFG and this Revival Plan 2 plan is by far the worst proposal Iâve seen in the past week. The hubris and lack of accountability on the part of the âleadershipâ team at TFL has been sickening and they do not represent the voice or needs of the community.
FatManâs proposal is by far more equitable to the people who lost the most and who would likely continue to support the TerraLuna ecosystem if we were made whole and given a chance to participate in the future of TL voluntarily. This has been the best plan so far and has been supported by Crypto leaders and the community.
To all validators, stakeholders and developers, please do not support this Revival Plan 2 and the fork. Preserve UST, burn LUNAâŠ
I agree with your proposal if the best way to make new Luna and old Luna is still activated. but it would be even better if the old luna coin holders transferred all their assets to the new luna coin. other than that I donât agree
