People are buying luna as this discussion is underway. It would be foolish to fork and revert now, i mean it is still functioning. Figure out how to burn existing luna supply gradually at let luna rise from the ashes.
5 Likes
Staking should not come with compensation. Do you like bank bailouts? What you’re suggesting for stakers is basically a bank bailout. like the one that started bitcoin
We’ve noticed the price of LUNA has kind of stabilised over the past 5 hours, yes?
So what are we arguing over?
(1) Whether investors can get a refund on a speculative asset in a bleeding edge industry that performed very poorly?
Or (2) How we handle a stablecoin, that doesn’t work, and almost single-handedly rekt the crypto market?
Seems like a stupid debate.
Sounds like time to just HODL & BUIDL.
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he cant… I think he is trying to save the old luna folks and the devs as much as possible to prevent brain drain.
see below
Supposed we are very optimistic that TLF have $2bn of reserve left.
So UST holders get diluted from $1 to $0.07?
$2bn * 40% / 11bn supply of UST after attack = $0.07
For Luna holder before the attack they get a value of $2.10 at least?
$2bn * 40% / 380mil supply of Luna = $2.10
Can explain to us how is that protecting the faithful UST holders? 
This seems like ripped offing the UST holders right?
Any mathematically inclined devs can verify my numbers above?
Thanks!
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Wake up and smell the coffee, there can be not variance in value, else, people will dump this harder. Just work out a burning mechanism and/or buy back the excess in circulation… regain confidence and build back from there. The likes of Coinbase are giving this up to the 27th May to come up with a brilliant plan
Well, you also invested in a project that had a serious flaw, so probably even you didn’t understand tokenomics wery well. Now you want to save your share of Luna and punish those who, you think, bought just to speculate. Because there are those who tried to save the project, or justy tried to save money trapped in UST. There are speculators as well, and this is part of the game, in cryptos as well as stockmarkets, and you cannot get rid of them… as well as those who were feelling completely safe to stake on anchor at 20% interest!
At the end I like a reply from wskyfall
Your $LUNA is not more valuable than my $LUNA just because you might have bought higher
The same goes with #BITCOIN, the people who bought $BTC at $60,000 are not whining because people are now buying $BTC at $29,000
Drop your nonsense seriously, if you want to buy cheap now go ahead and do so, I just bought Bitcoin at $29,000 imagine if the poeple who bought at $60,000 started whining and decided to do a ROLLBACK to the November 2021 snapshot to restore the value to $60,000
It is NONSENSE
Instead of this the team should work on the following
BURN TOKENS
USE BTC Reserves to buy back UST
Restore the value of $LUNA which will restore confidence
If you FORK and ROLLBACK you will essentially kill the chain and $LUNA will be DELISTED on ALL exchanges, no one will list the new token, NO ONE
So lets stop this madness
WORK ON IMPROVING the current chain @dokwon
Fix your mistakes, restore confidence there is no other way around this, there are no shortcuts
4 Likes
is there anyway to work with all exchanges, like 5% token of each transation send to dead wallet?
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and how you know burned 80%. it is according to the mechanism of the network?
You are openly calling to rug-pull, and steal from people who pumped good money into a dying coin. And it is their money (our money) that went to give exiting UST holders at least something on the way down. And although some must have been short-term speculators, some of us did it on principle, out of belief in the future of Terra.
Everyone who bought on the way down is a good-faith purchaser for consideration, who took an extreme risk of riding LUNA to zero. That risk was accepted to buy LUNA tokens equal to, and fungible with, each and every other LUNA token. Coins being arbitrarily devalued based on purchase date was not part of the deal; retroactively changing the rules is a scam.
Turn this around: Some of the people who bought at $100 were rank opportunists, who clearly have no understanding of the project. They saw green candlesticks, saw “crypto influencer” hot tips on Twitter, and got FOMO. They expected to get rich quick. I see that in the complaints about dilution, which is simply LUNA functioning as advertised. Should I be complaining that their LUNAs are equal to mine? I do wish that there was a way selectively to burn the LUNA of anyone who wants to abandon UST holders.
(Please make no mistake: I have much sympathy for those who bought before the crash because they believed in permissionless price-stable currency.)
3 Likes
He is trying to save the developers and old luna folks to prevent brain drain.
biggest loser is ust holders.
see below.
Supposed we are very optimistic that TLF have $2bn of reserve left.
So UST holders get diluted from $1 to $0.07?
$2bn * 40% / 11bn supply of UST after attack = $0.07
For Luna holder before the attack they get a value of $2.10 at least?
$2bn * 40% / 380mil supply of Luna = $2.10
Can explain to us how is that protecting the faithful UST holders?
This seems like ripped offing the UST holders right?
Any mathematically inclined devs can verify my numbers above?
Thanks!
100% agree. You just can’t sell at a garbage rate and come back here wailing. If not for the sellers selling at 15 cents, the repeg would have been a thing of the past
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Maybe im thinking about this too simply but why arent we splitting and using the BTC reserve to buy and burn the excess LUNA that was minted during hyperinflation and buy back UST at discount and then remove the mint burn mechanism? Isnt this the easiest and simplest solution? Idk what the right breakdown is but we could do a 50-50 or 25/75 split of the reserve between buy/burn LUNA and buyout UST holders. Also if there has been a definitive answer as to where the BTC reserve is from LFG, can someone link it? Theres so much bullshit floating around right now and its difficult to know whats true.
2 Likes
Because they dont profit , too much GREED, but yes we could do that.
There is ONE SOLUTION, they HAVE TO BURN.
IF they dont, and they think they will “protect” their ecosystem, good luck lol, if you burn the new investors and old investors who were trying to prevent the UST from falling, what makes ANYONE think that NEW INVESTORS will be interested
5 Likes
BTC reserve is gone if I’m not mistaken
I think a lot of people have sold to stop loss, ust supply is now just over 2B
How about $UST holders on binance and other cexs? I held $UST and staking on binance until its price drop below 0.1$. And I lost more than 90% my asset. I didn’t sell any UST just because I believed on your recover plan. Please dont ignore my message.
@dokwon
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Agree 100%
No, this is not true, CZ and his company are responsible for their platform and must respond quickly to the situation. I think that stopping UST/USDT, on the contrary, allowed UST not to slide even lower, because Binance is the largest crypto exchange in terms of trading volume. This is what many regulators do, it is better to stop trading than to allow the cost to decrease to 0.
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where to check this figure? because swaps and everything were stopped. So where do you get this figure from?
Exactly this is accomplishing nothing. TFL and dokwon have skipped