UST holders (many of whom like me could not even sell because the network was down) need to be made whole. I BELIEVED you when you said you had a plan and so I did not even try to sell or move my funds out of Terra Station. My reward was watching a purportedly safe instrument holding all my money get traded like a penny stock and collapse.
Prioritizing UST holders is in your best interest, @dokwon , because anyone associated with TFL does not have a future if they show that ultimately they cannot keep their word. You all promoted UST and Anchor as a savings account. Outside of crypto, savings accounts are insured up to a certain amount by the government. They are marketed as SAFE, and so people have no expectation of risk and TRUST them.
I mention this because people seem to be conflating confidence and trust. They are very different things. Confidence, from us, in you, relates to your ability to execute your vision. Trust relates to your ability to keep your promise and do the ethically right thing. The latter is a step that comes before the former. For example, you can build your ecosystem back up with the help of the community, learning from the failures and blind spots this time around, and trying again. But you don’t regain TRUST by simply trying again. You need to PROVE, immediately, that you can be trusted - if you don’t have trust from the crypto community at large then all the ability and confidence in the world won’t mean a thing. This means making UST holders, the people who were both LOYAL and had a reasonable expectation of SAFETY, whole.
I know you have intimated that you agree with this, but we need to see some initiative immediately. I am sure the past few days have been extremely difficult for you just as they have been for everyone, but you and TFL need to have a firmer hand in making sure this will happen.
In short, you need to do the right thing. I believe the proposal and discussion here:[[Proposal] Tiered repayment: airdrop USDC/USDT to small UST holders on Terra] is the best way to do that, to start. It’s in our interest and it’s in your interest. Many people put their savings into either Luna or UST, but only one group had a reasonable expectation that theirs was a savings-type asset.