If this proposal has been executed, it means that LUNA has been sacrificed to save UST.
UST is primarily held by whales, or also known as the rich and wealthy. LUNA, on the other hand is primarily held by the average guy like ME and YOU.
Therefore, once again, the poor working class, like ME and YOU, has been sacrificed to save and preserve the wealthy and the rich.
Crypto or traditional finance, the story is always the same. And unless the masses find the strength and unity to rise against this form of injustice and opression, the wealthy will continue to profit at the expense of the regular people.
We really need to consider the ones who bought after the depeg. Why?
Maybe they lost tons of money and they start to recover and make some money by buying the dip.
Or maybe, they put like me $60K on the way down at $16.
Everybody lost money and you should take care of everybody.
Luna holds more people, and the token is still struggling to protect when 0.1u has fallen below 99.9, the compensation should be liquidated with a snapshot of US$0.1
i have my luna on venus(bsc), buyed them on binance and withdrawed them to bsc before luna chain halted. I hopw these cases will be taken into consideration, i am down 100% as everyone else
En relisant mon commentaire je me suis rendu compte que je me suis trompé car le montant des jetons à distribuer selon ma proposition va dépasser de très loin le nouveau approvisionnement de Luna. Donc impossible de mettre en œuvre ma proposition. En tous cas, en tant que professionnel que vous êtes et grâce à la compétence de votre équipe et avec l’aide de la communauté, je suis persuadé que vous allez trouver une solution juste et équitable pour tout le monde. Mais tout de même j’ai deux doléances à vous demander avec insistance. S’il vous plaît n’oubliez pas d’indemniser équitablement les investisseurs petits et grands qui ont investi dans Luna jusqu’à l’arrêt. Car ils n’ont pas abandonné le navire comme l’ont fait certains détenteurs de Luna qui ont vendu l’actif avant le naufrage. Cette catégorie d’investisseurs qui ont gardé l’actif jusqu’à la fin mérite égard et considération de votre part. Deuxième doléance s’il vous plaît, c’est de ne pas pénaliser les investisseurs qui ont acheté Luna lorsque son prix est tombé à quatre zéro. Car c’est grâce à eux que Luna est sauvée.
Bien à vous
Thanks. One of the worst parts of this for me is that I spent those critical days actively defending Terra—“no, it’s not a scam!”. Preaching in my social circle that we need to save this network, that permissionless price-stable money is complementary to Bitcoin. Urging friends to take an extreme risk on Terra’s recovery.
If we all get rugged with some arbitrarily devalued conversion to a new token, then I was a patsy; and I hurt people I care about, with misguided idealism. There will be much “I told you so!” from Bitcoin maximalist friends, whom I accidentally scammed. I’ll try to pay them back someday. It will need to wait until after I repay the money I borrowed for LUNA bottom buys I could not afford; I knew that that was astoundingly foolish as an investment decision, but I was not thinking in ordinary “investment” terms.
Max Maher’s proposal, combining this proposal by @dokwon and the one gaining steam by @FatMan
-Refund all small UST holders through LFG holdings (this is possible as the bottom 99.6% of all Anchor wallets held $1.46 billion)
-Give UST whales and Luna holders a new network token based on their value in holdings before the depeg
This will:
-Make nearly every UST investor whole…
-Send a strong message that Terra cares about the people who actually used the network
-Spur goodwill for the network and increase the odds people invest in a new token
This version has found support from @VitalikButerin
I understand how difficult this time is for you and hope you and your family are okay despite what many may be saying right now. That said, I do not agree with your proposal.
While @FatMan 's proposal needs some slight refinement to be able to fully execute it seems to reward true community members. Additionally, it seems to be more sustainable for continuing some form of this chain and capitalizing on its loyal developers and participants. In your proposal here I think you would reward the speculators who are purchasing UST for pennies on the dollar instead of those community members who were holding at the time of depeg. We want to reward those individuals for being active participants in the network (as they are the ones we should be loyal too and are the ones who will continue the Terra mission if made whole again). Speculators trying to cash in on Terra’s demise should in no way be rewarded and we should not punish those who tried to protect their life’s savings by cashing out for pennies on the dollar. We want to show those individuals we care about them and that it is a network for them. Reward them for their use pre-depeg and show everyone what this community stands for.
Additionally, while I would benefit from a return to Luna holders, I knew that it was an asset with both upside and downside (and a magnified one at that due to the UST mechanism). Many in the community did not have such feelings toward UST and believed in the decentralized stable coin mission. Because of these assumptions making UST holders whole should be prioritized over Luna holders.
I know you are doing your best and have many investors to make happy and other competing priorities as well, however, I believe the best thing for the community now and for the future of the network is to follow @FatMan’s proposal.
Im a luna investor from november 2021. I always believed this ecosystem and im grateful for all what you have done.
I propose a refund of all luna or ust holders, not only ust holders.
You can refund only the money the users put into terra luna ecosystem 99,6% of retail investors.
Example LUNA: if a retail buy 10k at 45€ in luna but at the time of the of the snapshot luna is 80€, i think is reasonable to refund at least the 10k of initial luna offer.
Example UST: if at the time of the snapshot someone has 10k in ust is reasonable to refund all of the money without interest.
I’m not in any disastrous situation THIS time. I was before, and therefore think I know what your are going through right now. I wish that it’s going according to your plans!
Luna its a meme coin at this moment and can never restore its price at this state .
Before ust dpegin was 340 mil luna coins and its price was decreased due to infinite number of coins that was minting wich are 7 trilion coin now .
If they have to burn to restore luna they need to burn 6.5 trillion coins at least so who buyed milion or bilion and paid the value of a single luna ( at the moment they start minting) you own what u invest basically.
At this state luna will never increase it price not even in 100 years will not reach 0.50 it’s impossible.
Maximum will fluctuate as we saw last few days.
Thats why There is nothing left to do now to only way its to compensate ppl with money or do another project and give new coins to ppl.
I bought 2806 Luna at £2.5 on 10th costing me £6700…my life saving. Will I be refunded. Please help me, I’m drowning here. Anyone help me and reply, please
Instead, check this thread out if you still haven’t.
Vitalik and Max Maher already tweeted that they support this @FatMan proposal. Let’s make it happen guys.
I support the “small holders” UST proposal but I agree with you here.
Do was very quick to resign UST to total failure. I’d guess coerced in that direction, which could be a clue about how we all got here in the first place.
But UST as a product seems like it did pretty damn well to me…maybe a few tweaks here and there, some circuit breakers…
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