I would like to propose changes to the official proposal from @dokwon :
Validators should reset the network ownership to 1B tokens, distributed among:
- 450M (45%) to Luna holders before the depegging event. bLuna, LunaX and Luna held in contracts should also be recipients, minus the Terraform Labs account.
- 450M (45%) to aUST & UST holders before the depegging event. UST held in contracts should also be recipients.
- 100M (10%) to the Community Pool to fund future development.
The reason for this change: The people who really supported the project were the ones who had their savings in Luna and aUST/UST before the attack.
This is my vision and I think is more fair. Thank you for considering it. Best regards.
There are so much investors who supported Luna after UST depeg, excluding them will not make sense.
I totally agree to this… we took on face value that UST was a stable coin. On the Luna side investors accept the risk / reward as it comes with the territory, whereas we UST investors using UST as it’s meant to be used, as a stable coin, are the ones that never expected their wealth to be taken from them, it should have been a “safe haven” for money they don’t want to risk. UST holders should be priority IMHO…
The Algorithm approach to pegging is defunct, I can publish a short synopsis for those interested.
The way back is to Burn 6.5Tn Luna or swap them into 1Bn in issued coins.
Drop the algo pegging and go the USDC route to hard treasuries and cash.
Trusted Money will re-enter , the main asset the buying community should forget compensation ideas
and buy into penny holding stock and lobbying for a consensus on the bailout proposal.
I’m getting tired of those in the forum saying that the most important holders are the ones after the depeg. These ones oportunistically tried to catch the falling knife, getting hundreds of thousands of coins for literally some dollars, taking advantage of the hyperinflation that the older holders did not decide/vote on! Main affected, and thus main objective should be the ones before the depeg or even before 0,8usd depeg, as to catch some of them who bought till 1 luna.
Everyone is equal, i’m tired of people saying old holders are important lol. Are you going to ask for compensation everytime when someone else buys assets cheaper than your avg. price? It was TERRA who created this mess. They should burn those extra coins like FEDS absorbing liquidity.
Makes no sense to propose Luna and UST holders should be compensated equally. I’d say it’s obvious priority should be going to UST.
It goes against basic blockchain principles to retract blockchain history back to a better time of the coin. It makes the coin worthless and discredited.
NOOOO There is no way to Fork and come up with some fair arrangement! Period! the ONLY solution is BUY/BURN strategy to climb out.
This Fork and redistribute idea is a clever and easy way for the main players to be saved while the rest of us investors get screwed! NOT ACCEPTABLE!
Don’t try an easy tech tweak here folks. this will take work and some BALLS!
Did you sell your luna during the attacks?
So you are saying OLD holders had no idea what LUNA is? that it can be printed to trillions? There is no OLD vs New Luna holder… every Luna holder is the same.
Old holders knew that LUNA has unlimited supply. Now you are complaining like a little girl.
Only if they can prove that they had a large amount of UST and LUNA in their wallet BEFORE the depeg. Nobody supported LUNA after the depeg if they didn’t have some before, they just speculated. Nobody would search and like LUNA during the depeg, it had to be before.
Why? The ones who bought later did so illegally? If TERRA allowed purchase of coins after depeg and blockchain was running then every LUNA is a valid purchase.
If you don’t want to compensate buyers after depeg then you probably shouldn’t have taken their money. But now that you have already taken money there is no going back but to treat every Luna holder equally.
Who talked about legal and illegal? Those who bought low without ever being involved in LUNA just gambled. They could have win MILLIONS in a few minutes if they were right, some did actually. It was pure speculation and nothing to do with helping LUNA.
So what is their reward? Well it’s that the market price is still low and they can trade and recover easier. We are talking here about a compensation scheme to help the chain, not about covering the loss of hyenas who jumped in to suck blood when they didn’t even know what LUNA or Terra were.
this is the very same reason why LUNA and UST failed. This is not how it works. Your proposal just does not make any sense.
Fork = automatic go to jail for fraud, so please, everyone stop recommending it.
Everyone is equal in financial market. Grow up and cry for your bad judgement.
Don’t be stupid. Every Luna holder is a Luna holder. Posting in the forum is not required to be part of the community.
Regarding speculation, Entire crypto space is speculation… when you bought Luna you speculated as well… Not every late buyer wanted to make millions, that is your speculation.
If you really want to help then lead from the front and exclude yourself from any compensation. Looking forward to that.