We can set up a free fund. We can refer to a previous project called “radar currency” in China. The fund can be held by anyone willing to participate in the world. It is equivalent to a fund like the world bank, and people all over the world can participate in it. However, inflation must be set within a reasonable range, the maximum investment amount of each family must be limited, and the income ratio will decline in a ladder according to the size of funds, which can also narrow the gap between the rich and the poor in the world. At the same time, all participants can benefit from the regeneration of the whole system. After all, this system is already known all over the world, and it may be impossible to build such a system at how much money. The rebirth of the system will be amazing and can create far more value than it is now. Because I firmly believe that the future world is free and belongs to all mankind, and the value created by business belongs to all participants.
This money can be the rebirth of Terra and build a more powerful system. The assumption of this fund: if people all over the world are willing to put their funds into a savings pool, in the normal operation of the economy, even if there is an economic and financial crisis, all people will be a whole. The pool is large enough and will not be evacuated, because the funds needed to maintain everyone’s normal life are often limited. This is also the bottom logic of today’s financial crisis. Everyone has taken far more money from the pool than they need for their normal life, and inflation is too high. When a crisis occurs, we need to set a ceiling on the withdrawal of funds. In order to avoid the outbreak of a real crisis
We need a FreedomFund that belongs to people all over the world From these two days, the transaction volume between Luna and ust is enough to show that the establishment of an ustdao is enough to restart the system and develop more powerful.
Please do not do that! This plan could be the end of TERRA LUNA. No one will trust you anymore. The only way to get back on your feet with the confidence of the community is to buy all the LUNAS and burn them! Grateful.
I’d like to point out FIVE(5) of the ways that I lost multiple funds on LUNA/UST last week some of which haven’t been fully been addressed. Keep in mind, I’m just one investor:
LPS:
Liquidity in pool #561 LUNA/OSMO on osmosis reduced to nearly $0.
Liquidity in pool #560 UST/OSMO on osmosis current losses are about 80%
Liquidity in LUNA/bCRE pool on Crescent, gone to nearly $0
Lost USD, USDT, and BTC buying UST at a “discount”.
Lost USD, USDT, BTC, and UST “buying the dips” on LUNA and WLUNA on centralized exchanges. This is my own risk, but it was hard to foresee the supply of LUNA going up to nearly 7 trillion
Value of previously owned LUNA. Now worthless. Newly bought LUNA during the initial dips are just as worthless.
Value of UST.
-At this time, worth 23 cents on the dollar. I had UST in wallets, osmosis, and centralized exchanges.
I imagine that tracking all of this activity to come up with a fair share of a redistribution for users like myself would be difficult.
True greatness is to redeem the past and create the future. Having the future can make up for the past. This is indeed a great opportunity to create a fund belonging to the people of the world, avoid all emergencies in the future, and hand over the financial rights to all participants. This is the vision of Web3 and the vision of the people of the world.
We should sympathize with or compensate Luna’s early and late investors, but we should protect ust holders, because ust holders are not serious speculators. Speculation is inevitable in the market, but people should recognize the significant risk of excessive speculation. The holders of Luna should be graded. They should be compensated before problems occur, and also for speculation in the later stage, but they need to wait. They can be compensated from the profits of fund or system reconstruction I mentioned earlier. The holders of ust are also graded: the first holders of ust firmly believe that this is a stable currency, its price is stable, and there is no speculation, which is the greatest support for the system; The later holders have speculation, but they also believe that it will stabilize the currency and the price is stable, which is also the support for the system. Our initial vision is not: a decentralized economy needs decentralized money $UST
What a clusterphuck. The very idea of running back the clock is not just against the blockchain ethos, but goes against a very necessary lesson that MOST of us learn as a CHILD. Didn’t like getting shocked? Don’t stick your finger in a light socket next time, cuz ya can’t undo what’s been done. I’m sure there are plenty of people and family members who wish they could put their seatbelts on after the accident, but… no can do. IF this proposal goes through, indeed it will kill this project. DED ded. I get it, it absolutely sucks to lose money, especially money you could not afford to lose (why did you invest what you couldn’t go without, in the first place?) especially if it means losing your home, spouse, etc. But if you do not learn this lesson, what are you going to do next time, when someone doesn’t run back the clock for you? So, run back the chain… and what undo all the transactions? I dipped back in just to grab enough money for some weed, am I supposed to unsmoke it and return it to the dispo? Ask them for my money back, cuz Do Kwon said it’s all good, you’ll be made whole? No, that is just not how it works. The market is brutal, vicious and unforgiving. Do not get into it if you cannot understand this, the financial world is not going to drop everything and just change the way it works. Also, this isn’t the stock market, or traditional finance. So everybody who is talking about fiduciary responsibility… where was that promised in the fine print of crypto? Nowhere. Everyone in crypto knows… don’t phuck up or it’s gone. Done deal. We all know the very few legal protections we have. Don’t get me wrong, I would LOVE for many things to happen, I’d love for all of us to already be millionaires/billionaires. But there is this thing called reality. FFS, let the market figure it out, but by all means, BURN THE GAWT DAMN EXCESS LUNA. That should be a no brainer. Best of luck out there, don’t be dumb with your money… or anyone else’s.
Question— the attack occurred due to a “large” withdraw (question who/what another debate)… Is it possible to create a withdraw limit safety aka (based on percentage of funds) and do a withdraw limit for a wallet within “x” time frame (time allowing for safety checks to equalize in case its a nefarious crash attack). Also, penalize “bots” from overloading the system too (Solana’s issue)— potentially an attacker could overload the prior withdraw limit with bots.
Everybody knows the risk of crypto no matter what. People are still buying trying to keep the coin up. If you lost shut up and buy more and regain your position. There’s no refunds in crypto. Never seen one. Burn and buy and we’ll Moon again
That wouldn’t rebuild the community of users so it wouldn’t result in any lasting value. In order to save the network you need to reward the users not just speculators. Even so, FatMans proposal would create a lot of buy pressure on UST for the refund seekers and get it closer back to peg. The resulting increase in UST price would also help LUNA by rising in a faith based correlation so those holders would benefit as well. The market has been so flooded with LUNA that burning what they could is not going to take out the trillions of tokens that were added to the market and are still in the hands of speculators. Burning tokens would result in a temporary bump that would be negated by sell pressure of the speculators who got in and want to make a quick buck. Then the network and its community are right where they are now.
Con men always go down in the end. It’s going to be fun watching the authorities put handcuffs on these criminals. You lied about the $10 billion in reserves, and now you have to pay the price!
I lost my entire imvestment of 27000 usd which worth 6000000 in my currenct , you made luna lime a crap from minting abnormally and was keep saying on twitter applying more capital , we were keep doing DCA and u made it 0 , my total investment became 74 $ and u r saying new contract new coin, seriously disgusting … you are playing with so many ppl lifes, stop it … i became 0 in all money crying since last two days i became like a bagger… start using back backs of luna and ustd n burn them on urgent basis from LFG btc funds … dont play more with ppl lifes
