Terra Ecosystem Revival Plan

Governance & Proposals
479

This is a bad plan that will backfire in spectacular ways. The only advantage of this plan is that you do not have to spend a dime.

  1. You should at least take a snapshot of anchor holders. Right now people can buy UST for .05-0.1$, which basically mean that 40% of your blockchain could be bought for 20-40M.

  2. People had their money in UST because of the stability, most of them did not care about Luna as an ecosystem. Now you plan to pay them back using a non-stable coin that they will dump as quick as possible to recover their losses. That makes no sense. You should follow the tiered repayment proposal, spend 1.4B, so that the people who want out can get out. (proposal here: [Proposal] Tiered repayment: airdrop USDC/USDT to small UST holders on Terra - #2 by FatMan)

  3. Having people that do not want to be there/are resentful towards you is the worst idea when starting a new project. That will make it dump and luna will die forever. The new blockchain tokens should be given back to people who held and staked luna/participated in the ecosystem through Luna, because those are your supporters. Then, you can restart from scratch with a strong core and build from there.

So, my solution is to remove the 40% to UST holders, and instead repay them. Perhaps a % can be given to the top 0.04% ust Holders who will not get their refund through the repayment plan, since they had so much invested they are most likely believers of the ecosystem.

Following the repayment plan, you will salvage your and Luna’s reputation, will be able to start fresh with a strong core so that the blockchain can quickly moon and Luna holders also feel repaid.

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