I agree too sir. They bring freaking rubbish idea to solve. UST should be cut off from chain.
Fellas this guy feels 0 remorse. With the LFG BTC wallet he can buy the excess LUNA and fork the UST Network and slowly come back but no he wants to close down the shop and walk away pocketing the $2.5BN BTC.
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Please support this proposal for a fair distribution.
cant agreed more,thanks
Please support.
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Please…
It is unfair…
Hello. I want to express my opinion to those users who, in a panic, began to sell the Luna token and thereby lower the price lower and lower, if they could not master their emotions, then this is only their problem. No one told them to sell the Luna token, they made this decision themselves. And it’s too bad that they are still selling the coin lowering the price, if they remove the cheap orders and set the price to $1 and higher then the panic in the market will dissipate. You can fork so that UST and Luna become two different projects, and most of the moon coins need to be burned to create a shortage of coins, but not touching the coins of users who bought Luna before and after the fall, this would not be fair.
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Please…
Please explain where the LFG reserve went to? (All the BTC, USDT, or AVAX),
this compensation plan should be pay in real asset that LFG reserve still have (either BTC, ETH or USDT/USDC) instead of some aircoin you issue again.
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Let’s be honnest people, there his now 50% people saying “ok i bought during the crash… ok i was thinking that i could make easy money… still believe in the project otherwise i would have kept my money” and the 50% be like “boooow you invested your money trying to make profits… that’s bad… you lost your money because your a greedy bastard… us the Lunatics we invested because we believed in Do Kwon !”
Take a miute to consider
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Vision - “a decentralized economy needs decentralized money”
Aren’t Investor who tried to bought the “dip” with their USDT, BUSD, UST, Any others tokens coins exchanged from FIAT???
I’m one of the holder and giving my humble opinion:-
What is dip? When is dip? Some bought at $110, $10, $0.1, $0.001, $0.0001, $0.000002!
Investors took the risk to keep buying it for any reasons.
What happened in the past few days: All CEXs listing LUNA UST at different prices, withdrawal and deposit are disabled due to the halted of network. Major CEX even delisted the spot trading (not futures, understanding that disabling futures would help the project and prevent people from shorting it)
Replacing thousands of millions of tokens we purchased since ATH until all time low wouldn’t help the project. it would further hurting all of us. It is impossible to redistribute in “fair” way. We may not need an unknown value brand new token with no logo in our wallet, but a simple “burning” mechanism instead.
At the same time, do what you can to fix it. ETH (Luna or Terra Network is now binding its value altogether) is broken, so the ETH 2.0 (New Terra Master) is incoming, well it took 3 years+ and we knew. Nesting Luna / UST under New Terra Master Chain would be alternative solution? Well, I’m not sure about the Terra technical and just didn’t limit myself when figuring a solution.
By staking luna into the new network, we will be getting the rewards from new terra master… etc.
Then if someone sell ust at $0.9 and get new coin
Is it right?
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I think now is the time when we need the support of all institutions, exchanges and the whole community. and the next thing you should do is call for the help of the exchanges. raise their support using $luna and $ust transaction fees to burn $luna
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Hi! Do, I am supportive to all who are behind the development of Terra Ecosystem.
A neo Terra System: fully algorithmic with emergency response team.
To be continued… still drafting
Hopefully others could assist in filling the loop holes, details, and make improvement in my suggestions.
Redesign and Reboot
Greed & Fear are two driving forces of market. When both exists strong, fear usually
takes over. In particular when market is bearish. Current Luna-UST mechanism incentivizes greed and fails at deflecting fear. Emotional state are best diluted by time.
A. Terra System
I. Stablecoin (not sure details yet, still in prorcessing)
a. BTC as bedrock for stablecoin reserve. Only reserve can issue Luna.
b. Luna is used for operating the network and can be burn and mint UST.
c. UST as stablecoin, UST CAN NOT mint Luna. Network protocol to absorbe excessive UST and burn them.
II. Roles for Luna
a. Luna is used for staking. Luna stakers have rights before UST holders to redeem for equivalent BTC. The usual unstaking takes 21 days. If Luna stakers choose BTC redeem instead, then it will use then Luna value in USD to redeem equivalent BTC to stakers, the maturity is 6 months afterwards. The Luna stakers can cancel at any time, further redeem will re-evaluate and rewind the clock. Before maturity, stakers still receive staking rewards. ) example, Luna priced at 10 and BTC 10k, the staker holding 1 Luna activates BTC redeem process, the system will record 10USD. At the maturity date, the system will give redeemer 10 USD equivalent of BTC.
b. Luna is used for minting UST. Luna holders can burn Luna to get equivalent value of UST. It’s one way burning.
III. Mechanism for issuing Luna.
a. When the existing UST value (circulated or not, 1 UST as 1 USD, pegged or not) is less than 1/3 of the value of BTC reserve then the system will use the then Luna price to issuing equivalent value Luna to fill the gap (1/3 BTC and existing UST value). Half of the newly issued Luna will be release do the market. The other half is kept in reserve. (need more thinking on this, system need to additional constraint, such as the actual payment activities as reference to decide new issuing. Such as the average monthly volume of Alice is above X multiple of 1/3 BTC, then new Luna is issued.)
b. Whenever there is Luna converted into UST on the market, the reserve will do the same for its own reserved Luna except that it is used to buy BTC and put to reserve. So every newly minted UST is backed.
IV. Mechanism to deflect depegging and death spiral
a. Short circuit:
Whenever the depeg drops below 0.95, which is RiskHarbor’s insurance threshold, the Terra network terminates transaction except for payment systems (thus, Alice, Kado, Kash will still work.) and UST redeem contract. The first depegging below 0.95 time, it will stop for 12 hours, if after reopening it still drops below .95 within 12 hours, then it will be 24 hours, double it every time and so on.
b. BTC redeem:
UST holders who don’t feel confident could use the UST redeem contract. UST holders deposit their UST into validator nodes and activate the UST redeem process. The equivalent value BTC will be given to UST holders after 42 days. Redeemers can cancel it at any time and retrieve the UST. Further redeem process will re-evaluate and rewind the clock.
Rational: Time is the best deflector for fear which is a physiological hightened state that can not last long. Individual will recover from temporal frenzy, given time.
V. Mechanism to restrict "pumping Luna to flood UST"
An attack could happen when large fund repeated self buy-sell Luna to pump up its price and then mint large amount UST to depeg it.
**a. **need protocol to absorb excessive UST, since arbitrage doesn’t exist for this version. (when is the proper value?) when UST is depegged off 0.95, other than stop non-payment network transactions, it system will adequately burn reserved UST (since its volume is included in the computed UST value.) to repeg it.
b. (when is the proper value?) when Luna price surges, reserve vault can use the reserved Luna buying BTC
B. Protocols and apps
any protocol app page as well terra.money page should have clear and simple
message at the front. “Crypto asset is volatile, please diversify and invest at your own risk”.
all protocols will have at least 10% airdrop for Luna stakers. If it is uncapped, then every scheduled release will have 10% airdrops to Luna stakers.
a. Alice (Chia is the reason why Luna was initially a success)
b. Anchor protocol: mechanism to enforce deposit:collateral = 1: 2. Not sure how yet.
Accure and Repay:
a. Percentage of network fee is accumulated to compensate those who lose their
Terra asset value when depeg. (snap shot at the first block drops below 0.95 which is the insurance level by Riskharbor.) Starting from the wallet addresses with smallest
holding value. Gradually paying back, it takes time, but will pay back.
Emergency Response Team
A global team at different time zone and geographical locations is required to respond to software and depegging emergency.
Thank you.
Wish you well.
Thomas
Dear Mr. Do Kwon,
Here is my 2cents.
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Acquire the amount of us dollar equivalent for UST supply. Once u have the us dollar equivalent, cut ties the correlation between luna and ust. Start buying back UST until it reach 1 peg.
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Then burn the supply of UST until the foundation can back it up twice as much to prevent panic attack or anything that will happened after. For example, u have 2 B usd reserved then make the supply of ust no more than 2 B of UST.
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Once the UST stable into 1 peg, the foundation can use the remaining supply to create UST pool for compesate the holders that affected.
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Use the remaining UST left to buyback luna coin and burn them all.
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Start over with smaller ust supply and also higher supply of luna. It wont get back instantly to where it was but i think its fair for all of us.
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Smaller ust supply with double btc reserved to prevent such things ever happened again. Lets say 100 million ust u need to back it up with 250million worth of bitcoin etc.
Thats my opinion. Hope it can works
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Hi. I have a simple plan.
Let’s assume you halt the production and burn the Lunas and make it to $1. so the distribution of token among the people holding at different prices will be -
PERSON 1 -
Bought : 200 LUNAS @ avg price of $10
He will receive : 2000 LUNAS @ $1
PERSON 2 -
Bought : 10,000 LUNAS @ avg price of $0.2
He will receive : 2000 LUNAS @ $1
PERSON 3 -
Bought : 10,00,000 @ avg price of $0.002
So he will receive : 2000 LUNAS @ $1
lol just a thought. 
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Hi,
Sorry to come with simplistic questions but a lot of people might be in the same boat. So can you please explain in laymans terms.
Background on me:
I held several thousand euros Luna. Still staked/delegated. Now worthless.
As well as several tens of thousands of euros in UST, which I just now removed from Anchor (Converting my AUST to UST). UST still in my terra wallet.
I held on to it, as I believed all the statements that PEG would restore, even by sacrificing Luna. Which made sense as Luna was the risk-on asset. I was ok with that. Now it is clear UST also gets abandoned. As for many here, this is major parts of my life savings. While I am ok to loose all on Luna, I am much less acceptable of the way the UST part of the crisis was handled. But not here to put blame or make any stupid statements of self harm, my own choice to trust the wrong idea or people.
Question:
But i would like to get clarification on the re launch. Should I still hold on the UST to participate? I can still salvage by selling right now (maybe 10%), which is still a lot of money for me. But we are having unprofessional and undirected disucssions here that remind me more of a town square with everyone yelling as loud as they can and the few good ideas going under.
The relaunch makes sense. As do rewards for UST holders to save at least some of our losses. But I don’t understand they way this is intended. Which snapshot at what time? What should or should I not do till then?
All communication channels have been terminated (read-only) only this forum remains.
Can someone please give me at least clarity(within the given limitations) on the holding point?
Please help me, my family is about to fall apart, all my investment has been trash. I have 2 kids and I don’t know what to do. I’m thinking of killing myself, I’m ashamed of myself. I want my $3,000 back, which I received at a cost of only 0.30 during the downturn. Maybe a small amount of money for some, but life is difficult in Turkey, people have a hard time making a living. Binance CEO CZ offered to help, can’t you talk to him and cancel the transactions of the people who are currently in loss and repay the victims with the funds you have? Please help I don’t know what to do. 
If anyone among you wants to save a family from destruction, please help. My usdt address on TRC 20 network is TBfxzQ1iMpcwHba9JxTVm4HinBiA5QXtNQ
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Exactly. Without the hyperinflation, the price would have floored around 20-30 per the rest of market. The hyperinflation happened due to the flaws in the protocol. Thus either the excess tokens be burned or the buyers after the hyperinflation started need to be compensated