به احتمال زیاد هیچی و پول مام دود شد رفت
Gonna be a snapshot leading to fair redistribution of the lost value pro rata to the holder balances at the moment of their purchasing LUNA off the orderbook. I see no other way around. This should be done automatically by the exchanges, namely user balances should be credited amount of value equal to the cost of token purchased, contingent on when the purchase has been made as regards the chain dilution. Example, I bought 10000 LUNA @ $0.24 when the supply dilution hit 60 billion, I should get back $2400. I bought 1000000 LUNA @ 0.0005 when the dilution reached 1 trillion, I should get $500.
Can someone provide clarity on this ? I held my life savings on Anchor for around a year but seeing it all go way was too much for me so I had to sell it for 80% loss by moving it through Terra Bridge to Osmosis, swapping to ATOM and selling ATOM on Cex.
Would I be compensated 40% to a dollar in my terra wallet or would I get nothing ?
Statement above is still not clear to me, I still preserve 46 Luna which I got at 84 and 94 respectively through Binance and well, got nuked to 0 pretty much, users in exchanges do apply for the distribution or no?
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Totally agree
Who started minting tokens in incredible amounts? Buy back the extra tokens and burn them, at your own expense, dear Terra Developers.
You obviously weren’t the last to know what had happened, and the first thing you should have done was suspend the network, because you knew very well what the consequences would be. And now, because of your mistake, you want to restore the network at someone else expense and pretend that you have paws.
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B is flawed, I just got my ledger device and linked a new wallet to my ledger device and moved my holdings to that wallet. This would mean I get excluded.
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Me too, I swap my UST to LUNA at LUNA/UST = 5 (because I think I can help 1 hand for LUNA)
I think Do Kwon should distribute for UST Holder before DEPPEG
U should be the bearer of LUNA if u want to be eligible for something.
The following proposal is that returning USDC to UST holders at the cost of 1 dollar. Please check it.
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For me ok
sounds cool Do, but how does one get compensated?
12می بود دارم دیونه میشم همه سرمایم رفت به نظرت چیکار کنم
I wonder really Where is BTC Reserve? If you are still holding them you should buy back to ust?
Redistribution may not be very fair. How you will do that. If i have 690000 Luna how i will take on Luna2.?
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Will the distribution apply for users in exchanges such as Binance before the de-peg? I was nuked to 0 with LUNA before it was too late.
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The numbers seem to be saying that Luna is burning at about 5-6 million Luna a minute or ~7 billion Luna a day at the current levels of 1 UST ~ 500 Luna …. The algorithm is working
The more expensive the Luna price the slower this rate is and vice versa. This can be fastened by increasing the UST → Luna swap fees … at these levels the fees are about 3%; at higher levels 1 UST ~ 3000 Luna the fees was 0.3%
While the numbers are promising, it would take more that a year to burn the supply organically via algo. We can increase this rate by increasing the fees
Arbitragers can take coins off exchange to push the swap rate down which is fine cause it increases on chain burn and introduces scarcity to exchanges.
I’ve seen other ppl calling for a fees increase and I agree …. The algorithm is working, time is needed. It’s either force or time … the later is more elegant and avoids us all the trouble trying to fit a square into a circle peg …
Trust the algo I guess, just cause it’s not working fast enough doesn’t mean it is not working!
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Please let’s stop this madness, I know what I say won’t be popular.
The risky asset is UST, not LUNA contrary to what many think. The definition of “risky” is not just about market price. Market price is not the only risk. LUNA did its job, it is mainly the mining power and absorb UST supply/demand. It worked. On the other hand, UST lost value on CEX first, it was speculation and now it failed. There was never guarantee that UST would remain stable, it’s all part of an experiment. But LUNA worked as intended at the chain level, it is the risk-free asset as long as all the technical part of Terra (blockchain) worked fine and they did.
Now how to take it forward? I hold lots of UST and I think we need to let it go. It is still trading on the market, currently around $0.15. Small UST holders should just sell and they can recover a bit. They can still get 15%, that’s not as bad as LUNA holders.
LUNA is more than for peg, it’s the NATIVE blockchain token. This is what can make it live, this is what allow validation, transactions, mining, etc. I work with other people building tools for Terra. We spend time, effort, money but we are ready to continue building, just without UST. We need LUNA, we do not need UST.
I know my post won’t be popular, I know most people here are small holders of UST so in terms of numbers, it’s clearly biased towards them. But those who built the blockchain and are ready to continue should also have a voice. When we invested in UST, it wasn’t sure it would remain pegged to dollar but we knew that the blockchain itself was great and so that LUNA can continue be using even for other purposes than a stablecoin.
Terra is one of the best blockchain, with great community. And it’s possible to continue BUILDING. We need LUNA for that.
So the majority, if not all, the compensation should go to LUNA holders PRE-depeg. This is the only solution. There won’t be enough to help everyone. Anything POST-depeg should receive ZERO, whether UST or LUNA holders.
By doing this, we can still have a token that has value because we don’t try to help everyone. By pretending that we will help everyone, we are lying to ourselves. Any compensation would have no value if we need to cover so many people. We have to reduce the number of people to the minimum, not the maximum otherwise NOBODY will get anything, it would crash even before.
Save LUNA, save the builders, save the mining power of Terra, save Terra, save all the time spent working on the blockchain. It can have a great future, we are all ready to continue working but this cannot be with UST. UST is gone, forever, nobody wants it anymore. But other projects can survive, we can work with Cosmos and continue building.
So the first thing to accept is that only PRE-depeg should receive something. And in big priority LUNA holders. Post-depeg should receive ZERO. We need to be that extreme to make it possible. They did NOT try to save Terra, they tried to make a lot of money.
Reward the lions, not the hyenas!
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Compensation would restore a lot of goodwill. It is an excellent PR stunt for LUNA, which bas suffered tremendously in PR terms. It is about branding. Moreover, a great deal of that compensation will flow back into the LUNA ecosystem. Restoring investor trust is of utmost priority, hence some form of compensation for both UST and LUNA holders at the time of the depeg must be seriously considered. Also, it would significantly reduce potential legal trouble. This is a huge opportunity to show Terra is generous and cares about investors. People have conmitted suicide over this, it’s time to change the way things are going right now and restore order.
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Terra company was 60B worth. How you dont k now manage it.? I saw you tweet “I fucked” . And you did delete. I had a wedding and i needed that money. and money other people made investment over the world.
IMO its a no-brainer to burn as much luna as it is possible, and to protect somewhat from future attacks. How the latter is possible I don’t know but every market asset is vulnerable to that.
I sincerely hope that my investments into the terra ecosystem (prism, nexus, stader etc.) will become somewhat valuable again. For now I keep it staked and in LP’s.
Maybe it is possible to migrate these assets to a new sidechain?