Same bro I lost my 3500$ ust
the project did not fail, only a lot of people ran away.
Now you want to make profit for those that invested and left you, knowing it was a risk asset!
LET THE FREE MARKET DECIDE THE FATE, F*CK THE 1$ PEG, DOLLAR SHOULD NOT BE THE STANDARD IN CRYPTO.
COME ON DO KWON, DO THE RIGHT THING ONCE
This plan is so wrong and sends the wrong signal to the crypto market that if something goes wrong, we can reverse time. This is also extremely unfair to those who invested after the halt. The right thing to do is to 1) take responsibility of the issue (key decision makers to step down), 2) resolve the root cause of the issue (move to a real USD peg) and think of creative ways to burn the minted coins (a fair way)
There’s no word called “refund” in defi world mate. Understand decentralisation.
So basically you are saying people who bought after depeg are going to be f*ucked and they were test pigs / used condoms ?
This isn’t a revival plan, this is starting over.
I still think you can pull off my proposal and try to actually revive the entire ecosystem (luna and UST). You could really try since my proposal’s cost is almost 0 compared to everything else (just some work from 1 or 2 software engineers and talking to exchanges).
They would need to offer cex funds for us, or cex themselves making a good gesture since it was a freaking stablecoin
- The best path is to burn the excess of LUNA
- Detach LUNA from UST and make it a normal cryptocurrency like BNB
- Make LUNA deflationary and start paying back the UST holders using the fees generated by the chain, this way a few millions can be recovered and probably some LUNA can be minted and sent as an IOU locked for some period.
- Overcollateralize UST similar to DAI and make it less money out of thin air
- All the other protocols on top can work as usual of course with healthier incentives, 20% APY out of thin air is non-sense. Btw, what happened with Ozone? Wasn’t that an insurance?
Luna and ust in binance are goin up slowly they are burning Luna, if this works, thnx CZ later.
Firstly, Kudos for your honest efforts. While resetting Network ownership you should consider the following points:
Luna “HOLDERS” from before depegging and still holding can be incentivised. But 40% is too high, they also have to take some loss. (Don’t allocate to those who made an exit)
30% to UST Holders. (Not to those who made an exit)
30% to those New investors, who risked everything when everything is going down at luna. Don’t punish them for supporting you in dark times. These will be your flag barriers in the future. These New Lunatics are huge in number and are more active on Twitter, youtube, discord etc. And they will spread a positive image.(here also allocate to existing owners not those who already sold and left)
10% to the Community Pool to fund future development.
Most important, don’t distribute anything who already made an exit and left the community.
Finally, 30% to Old Luna Holders, 30% to UST holders, 30% to New Lunatics, and 10% to the Future development fund. This would be fair distribution and will keep a skin for everyone in the game.
this should be the way
Totally agree, only holders on UST and aUST before depeg
Please make whole those of us that held aUST till the end, we went down with our life savings, we desperately need to be made whole. Maybe we can offer controlled liquidity into USD for us aUST holders, it can be very slow so the new token doesn’t hyperinflate.
Not fair to those that believed in @dokwon saying stay steady lads deploying more capital.
Disagree, a lot of people buy from high all the way down to the low
Whoever propose and support unlimited issue of Luna should take full responsible
I like this but NO MORE LUNA MINTING. Its crazy over supplied and if it’s only burning 1 billion a day from what I’m reading it could take years for it to return to the same supply and price point
Yes, this is how it should be. Most people who bought at sub cent prices were just speculators/get rich quick guys they should get proportional to what they invested.
It should be simple.
- Take a snapshot of wallet values before the depeg event. This is the investment of OG supporters
- Then every buyer’s investment (in US $ terms) is added (from DEX/CEX records)
- Now distribute proportional to the users investment value
You cannot just wipe away people’s life savings that were in UST and Anchor. TFL/LFG OWE THIS DEBT and no LUNA v2 token or jelly beans are just compensation. You told UST holders to hang tight and wait for the rescue plan that never came. You cannot just walk away from this now. To do so would make you a scammer. Return those funds to the small aUST/UST holders who are suffering because of you. You best believe you may pay for this with your freedom if you try to rug UST holders with this proposal.
aUST holders need to be compensated, not just UST holders.