UST is a STABLE COIN and the original UST holders should be made whole.
These are people who held UST in their Terra account before and after the depeg, up to a certain point in time, eg. till the first halt of the Terra bloackchain.
How UST holders are made whole will speak volume of Terra’s integrity and is critical to building trust and confidence going forward.
To me the following proposal makes sense with the above holding period applied – [Proposal] Tiered repayment: airdrop USDC/USDT to small UST holders on Terra - Governance & Proposals - Terra Research Forum
LUNA buyers knew they were in for a wild ride and they speculated for capital gain.
UST holders who held till after the depeg are savers who entrusted their LIFE SAVINGS to a STABLE COIN for yield and for the implied safety of the principle.
The original UST holders should be given priority and be made whole first.