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Most ust holders on anchor only cared about stability. We know when ust holders withdrew their ust from anchor protocol and other networks. We can estimate how much they lost based on the time they withdrew. Then we can give them bonds that are paid when network fees are generated. Put a 0.5% fee on exiting anchor like mirror does, lower the APY to 10% then use that to pay loyal ust holders back. Even if we repay people just in anchor protocol, that would go a long way to getting customers back. Use some of the extra money to keep ust fully collateralized.
Bonds work. When usdt got hacked, they released a bond like token and survived.
Give the 40% of tokens we were going to give to ust holders, to old Luna holders based on what time they bought to defend the network and the old Luna holders that didn’t sell. If you give the new Luna to old ust holders, they will just dump for ust.
Use the 1 billion to help fully collateralize the new ust token.
Use a better algo that balances rewards between loaners and borrowers so we have more people taking out loans.
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Let’s be honest, how many people sold their Luna in panic? If my Luna has dropped to $ 1, am I to cry that it’s not fair that I have less than someone who entered at a lower price? This is hypocrisy because you know very well how this market works! No recounting!
An effort towards CEX Luna holders that didnt sell deserve to be part of this. Snapshots can likewise coordinated. Some exchanges even stopped Luna transfers long back.
Agree with the author, loyalty should be appreciated.
Panic selling or not, the one who “came out” simply gave up and became part of the problem (driving further panic), ie he was not “here” for technology and the “common future” but more for his own “profit”.
Those who did not “come out completely” because the assets are on CEXs are at the mercy of these CEXs because they own your crypto assets.
“Decentralized finances need decentralized stablecoins” that was Terra at its core, not an Anchor 20% yield or a regular farm.
There are people right now that are unaware of this and are buying hyper-super minted LUNA at exchanges right now… this plan will rekt those people even more!
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Any attempt to do a snapshot at any previous moment will push all new investors away and they, together with the holders are the only ones capable of moving this forward. You need current holders and new buyers building the project back. If the common goal is rebuilding and getting back the UST peg, these people need to hold their UST frozen until it gets back to 1:1. Fix things step by step, the trust in Luna first.
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all of my entire wealth was gone by getting liquidation on bLuna I provided on Anchor. Will I be in the 40%?
BURN LUNA ON EACH BUY-SELL. %1 - %10 range would burn massive amount of it since we have so much volume and will have it for days most likely
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Hi Do, thanks for your message. It is more relaxing to see that things are being worked on and that this is not dead in the water or so to speak! Terra is too big to fail and i think it’s fair to say that everything that has happened in the last week has been shocking, heartbreaking and should not be repeated. i do not envy the position you’re faced with right now as to what to do.
I’m going to be completelty honest with you. I wasn’t an investor in Luna before this, but i invested in the last few days around 15,000 dollars as I believed this was going to be a quick fix and turnaround.
I don’t think anyone expected the supply to end up at 6.5 trillion, it really is a sorry situation.
I have read your proposal about resetting the network to 1 billion and this would affect me, as well as thousands of others who made the same moves as me, believing in the ability to solve this quickly.
If you reset the network to 1 billion tokens, thousands more people will get rekt and will create more heartbreaking situations.
I request you and the team to explore the possibility and budget around buying up the luna supply to either
-
burn it all, bringing the supply back to normal
-
burn 50% of what you buy, and redistribute 50% to UST/LUNA holders that were affected the most by the dilution
Please do the right thing and let’s do this in a slow, careful manner which will not make the markets go crazy. So many lives have been wrecked by this and you have the ability to make this better.
I welcome any further discussions on this, thanks man! 
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Here is my proposal:
Initial assumptions:
- TFL have some capital left and want to preserve the protocol and ecosystem on its own short term expense to maybe gain some redemption in the future
- Community consist of majority of investors by number first and by stake second
- People invested 1-1000$ will hurt but can live with the loss (roughly saying). Millions.
- People invested 1000$ - Whale$ is majority that make the ecosystem and community that hurt the most, are affected the most and disgruntled the most. Millions.
- Whale$ investors are probably the ones that were gaming the system, playing the game, knowing the game and risks. For them total loss is just another bad day in the market and consists of sub 100 people that “knew” the rules and will accept the total loss without hurting the community since they are not community but capital opportunistic predators that try to suck the money from those who don’t know the game.
Proposal:
Since TFL has the relevant inputs and means to construct restoration project I will make proposal descriptive, leaving the implementation to the ones who can construct and implement it based on proposals.
To preserve the ecosystem and community TFL need to preserve the gauss distribution majority of most invested, impacted and disgruntled holders that can lead to restoration of the protocol. Those people will advertise the ecosystem the most if they are “saved”. Sub 1000$ and Whale community will have little to no impact to the cryptoverse reach.
Proposal is to “bail” that community on expense of TFL, “sub 1000$” and Whales. This way TFL can restore the most quantitatively and qualitative those that will be grateful the most, quantitative majority and best advertising voices in saving the ecosystem.
On the voting for proposal one should exclude TFL from voting as well as Whales and leave the decision to the ones that could save the thing.
Possible results:
Whales and “gamers” will probably just dump the redemption stake and run hurting the new revived ecosystem. Those least financially impacted will probably just leave it or won’t feel it on their skin.
Those mostly saved will bi probably be distributed in those who dump and run with redemption money and those who will try to stay and hope to restore the value.
TFL will risk their significant amount of capital with the hope that (if executed properly) they have the chance to live another day and return the investment.
Does this make any sense?
EDIT: There is no happy solution. Everyone can not be saved and in the same amonut. It is what it is and some emotionless triage needs to be done to recover what can be recovered.
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How many people here will buy LUNA with their UST if it repegs? I will
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At the moment, I think the best solution for every holder of $LUNA is to average holding position’s price by buying this dip. You can buy a lot for little now. Moreover, this demand can significantly increase current price.
P.S. I know that averaging is not good. But what is $0.5-1k spent for averaging if you lost millions?
You need to burn extra Luna that has been printed. If you want to compensate old Luna / UST holder, you need to check the exchange and you can easily find the looser list. I lost almost 95% of my money buying LUNA. So do the thing that is BEST for holders and you.
My Binance luna wallet is terra1ncjg4a59x2pgvqy9qjyqprlj8lrwshm0wleht5
Memo : 103793488
Hope we the holders will not be deprived
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Well i bought more ust after the depeg in because i trusted and loved the project. Sooo those of us that bought after we lose for trying to stabilize the price and help the repeg?
This, not halting the pegging mechanism was so incredibly stupid. There were still chances as long as it didn’t overinflate below 1 usd. Luna would have fared far better if you let it be bought up at the bottom. People are extremelly degen when it comes to buying dips and it probably would have rebounded to $20+. Instead you hyperinflated this to death and there’s no way out for anyone that bought the dip. Complete amateur hour, who gave these clowns so much responsibility?
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