this is what we need! Burning!
2 Likes
this is the best solution imo
1 Like
I see a few people supporting a fork. Clearly, you have no idea what a fork is and what itâll bring to you, forking wonât get you anything, do your math again.
10% out of 1billion new Luna to be shared for every single Luna âclassicâ holder equally. At this point, even if you hold 10millions Luna, it is about 0.000168% share of the 6.5trillions. So that 10% new Luna will be 100millions, and youâre getting 0.000168% of that, which is 168 new Luna. 1st you only get 10% of your share, which is 16.8 new Luna, the rest only give you in the stretch or end of 2 yrs.
How much will the new Luna be worth? I guess at most $1 because it canât be too far from the initial coin. So your guaranteed receivable 16.8 new Luna is $16.80. How much do most people invest in the Luna âclassicâ? $5k? $10k? $50k? Theyâre still making a loss of around -90% if not -99%
And about that burn is not what some of you think, itâs not simply a buyback.
An example coin that uses a burn mechanism as part of the system is Shiba coin. Basically, it burns those collected from transaction fees. And several other income sources which Terra doesnât need to use their own money to âbuyâ back any coin in order to burn.
6 Likes
forking will destroy the trust and no one will trust this project again ,because people will know that if something bad happened again to v2 they will do nothing and just say screw it ,we do not care lets just make a v3 ,so a v2 will destroy the trust forever ,luna right now is like a sick man that is bleeding and need to be treated by burning the bleeding location to stop the bleeding with the old way,and not kil*ing this sick person and saying hey you dont need to live you have a bleeding we will kill you not treat you ,thats whats forking is
6 Likes
We want a Massive Luna burn!!!
4 Likes
no fork
3 Likes
Itâs really sad to see admins (who are supposed to be neutral), validators and some LUNA users endorsing the proposals of Do Kwon, none of them includes reimbursing money. Outside crypto, this is just a plain scam, but people in crypto are often blind and fall for marketing speeches.
This is the only proposal in sticky, so the average user enters the forum, see it first, and thinks itâs the only one and thatâs simply manipulation because in fact theyâre many proposals and they should all get the same exposition.
On the opposite side, world leaders in crypto like Vitalik Buterin
openly support reimbursing the money, because they understand what a scam is, how it works and that there are precedents for this:
What happened with UST was not âbad luckâ or âpart of the risk of investingâ, because weâre talking about a stablecoin, not an average coin.
When investors put their money into a stablecoin itâs because they want to avoid risk, not because they want to have it. If they wanted that they would invest in any other coin instead of a stablecoin that claimed it had 1:1 parity with the US dollar.
The same happens for example with dollar ETFs and thatâs why the SEC in fact considers stablecoins as another category and wants to regulate them as soon as possible:
So, for those saying to UST investors that they knew what the risk was, no, they didnât. Because UST claimed to be a stablecoin, that was the description of the product and it has not been fulfilled at all.
So, yes, a 100% reimbursement applies. If not, itâs considered fraud.
Sadly if the users accept proposals that donât include a full reimbursement of the money to UST holders at the moment of the depeg theyâre being partners in crime of the greatest crypto scam in history:
The only proposal currently supporting a return of the money so far is the one from the user âFatManâ:
I really hope this doesnât go down in history as the scam the crypto world decided to accept, it would be devastating for the ecosystem and its future as it totally destroys the worldâs confidence in the cryptocurrency market.
If that happens, and the UST holders at the moment of the depeg donât receive their money, the only ones to blame will be the Terra users for supporting a scam in their ignorance of how things and laws work in the real world.
Also shared this on Twitter, con you share it there if you want: @blacktiecrypto
Hope you all make the right decision and return their money to UST holders at the time the depeg started.
8 Likes
sacm ust
This proposal leave many completely out.
also, it does not take into consideration that this is a blockchain. It is feasible to find out what happened post-attack, and for example, compensate those that invested proportional to the invested amounts.
All transactions are on-chain, all prices are recorded.
also, as you mentioned in your tweets, you did not exit from Luna or UST during the attack, so you have a conflict on interest with this particular proposal.
3 Likes
NO, NO, NO, Just Burn
3 Likes
Simply nonsense. You shamelessly make such an offer. Buy and burn LUNAs with the money you stole from the community. Or find another way of burning and reduce the supply.
7 Likes
If Luna was Teslađ
All Teslas stops working at once, but dont be sad. Musk creates Tesla V2 and You can buy it!! , And because you owned a Tesla, he will give you FREE AIR for your tyers in compensationâŚ
Great Deal for Musk, not so Great for anyone else.
And will you buy Tesla V2, knowing what happpend to the original Tesla? If yes, go see your doctor and get more medisineđ
(This may create a chain reaction in the whole crypto marked, making all coins to fall to oblivion.)
9 Likes
Ksm, you raise a lot of valid points and I agree
1 Like
Do Kwon, listen to the vast majority, just correct the codes and use alternative strategies for burning LUNA, such as new purchases and better average price, tax collection, support from capitalists and companies, LUNA donations for the burning portfolio, LUNA collection for burning from the sale of NFT collection and others. Donât fork the community and investors, just rebuild and burn!
2 Likes
Just Burn
3 Likes
It is clear that the community now consists of two parts.
The first is the group of original investors and savers. Letâs give this group an airdrop based on their worth pre-attack.
The second is the group of new investors. Allow them to stay on the Terra Classic chain, and implement a burn mechanism as many of them want (% $LUNC burned per transaction).
In this way, people in favor of the fork can continue to focus on the fork, without the noise of the burn crowd. Further, the burn crowd gets the mechanism that they want, and given that they have invested money into Terra classic they also deserve to be heard.
3 Likes
This is garbage, tax and burn. No ones gonna follow you to this V2 crap. The only fork is the fork in the road to disaster or bringing this back to life by burning.
1 Like
Perhaps I didnât understand but how about this:
You can modify the plan and specify a little like how the Luna v2 is unlocked over the period of 2/4 years time.
I think Most of the UST users should be ok if the allocated Luna v2 is unlocked like the interest/yield given in anchor protocols or other exchanges. And that can be liquidated.
Luna users should also vote for this.
This is a raw idea.
Just recall the suppy created and burn it and then fix the UST algorithm. Buy back off market at the Dip and burn it all
1 Like
What will happen to the people who hold on binance?
2 Likes