and cardano / ergo
Use your reserves to buy back and burn, that is the only way to go, just like Binance CEO suggested as well.
3 Likes
Seriously I want to ask you something:
HI everybody . I am just a chart and pattern / risk /algo guy observing this fascinating event.
It seems an algo or something was buying yesterday. is that the algo burning coins?
You can see the pic . 45 degrees. that´s not human.
just my 2 cents.
maybe they are already burning in secret and they didn´t tell you?
In my humble opion, @dokwon makes sense to do the snapshot, but the reward distribution doesn’t.
Those still holding UST should be compensated 1:1 via USDC or USDT and then scrap it altogether for a better stablecoin mechanism or have a fork of USDC/T for Terra until a new one is developed.
I suggest to audit the liquidity on exchanged (halting withdrawals), then reduce that number from the new 1B capping. thus giving the price a significant boost due to liquidity shock, at the same time LUNA holders that kept their bags have recovered some capital. Whilst going into a deflationary economy.
Then use the Trading fees (Luna) to be split 60% for validators, 30% for the development of new projects (like other chains are doing) and 10% as reserves for the foundation.
Final suggestion is to continue working to find solutions against further attacks of this caliber
not only people from original crash lost money. The people who bought the dip between 1 dollar and 0,0x also lost money because they were told all would be fine and to hold on to there LUNA. Because of them the network was kept stable , good thing they are not forgotten
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A Fork is just a different four letter F-word from Terra to it’s investors
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Personal opinion. NFA.
This won’t work.
- forking does not give the new fork any value. That’s wishful thinking.
- one cannot void all transactions after an old snapshot, both on-chain and off-chain (exchanges).
Where is all the BTC that was supposed to be used as reserves?
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i will never move my [$luna] from binance.
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BOTTOM LINE, if you disregard all the investors NEW OR OLD, from the DEPEG snapshot, your project is DEAD, NO ONE is going to invest in LUNA, you would have lost ALL TRUST
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Unfortunately im not a staker…can anyone else confirm this??
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read this please:
(…) /t/proposal-burn-and-remedy-tax-with-each-luna-transaction/12176
Just Buy trillion Luna and Burn
Why you want to make an another scam
You just spend your 40,000 BTC and Burn 80-90% Luna
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Why can’t the Safe Luna (L2) be a DAO with a governance token? Only a percentage of the BTC escrow would be required to get it up and running and old users can exchange their Luna into the governance token of the L2 ($SafeLuna)? L2 could have dapp/staking features the L1 would not and then burn the remaining Luna at the end of the fiscal year accordingly. That would mean Early depositors and Late Depositors would all be treated fairly in this stressful situation.
I agree to make a new version of Luna and redistribute the tokens. Plan is fine but there could be some adjustments.
There are many case but we have cex and dex data, than we can do some data mining we can see who hold their luna till the end or their exit price. We can also see who brought last minute and how much they invested. Therefore we can give new token amount of their loss.
Lets assume new version Luna price would be 1 usd. (so Luna/UST will start 1:1 from scratch)
Case 1: “Person A” had 10.000 USD (Luna/UsTbefore depeg event, Luna and still holding therefore Person A would receive 5000 new luna and 5000 ust
Case 2 : “Person B” had 10.000 USD before depeg event, but sold at %50 price down therefore Person B loss is 5000 usd and Person B will receive 2500 New Luna and 2500 usdt
Case 3 : “Peson C” brought 1000 usd equivalent Luna before chain halt (or even after restart) and still holding. Therefore Person C would receive 500 new Luna and 500 Ust
It needs some datamining and co operation with DEX and CEX but this would be fair enough for everyone as well as for eco system in my opinion.
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Whoever doesnt agree on that proposal ( including me) , when its put into voting , just vote NO and y’all be fine.
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No the snapshot does not make sense nor does the distribution. This is the most sensible and can save us all. The person even offers help. 8 Steps to Save Luna now - Economic Refactoring Proposal from industry professionals - #192 by soki
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Do not even consider to create LUNA2 just to leave all this mess with original LUNA behind. It has to be resolved.
You should use the Bitcoin reserves to buy back excess Luna minting and burn. Do anything else and your name will always be synonymous with scam.
This is the only path forward, just like Binance CEO already explain.
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Do you think Cex will let another one access their data or provide their customer wallet address?
CZ: Reducing supply should be done via burn, not fork at an old date, and abandon everyone who tried to rescue the coin.
I don’t own any LUNA or UST either. Just commenting.
Even CZ think this is a bad idea, please just let the market do its own work.
Don’t do the 40/40/10/10 distribution or create any V2. Just focus on rebuild the market confidence and trust for Luna and UST.
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