Anyone realize there is no mention of what the 1 billion in reserves will be used for? Also no mention of how to stop this from happening again. Anyone know if the team fled with the money in reserves?
I agree LUNA v.2 is not the way! people will not trust it. the way out is to build Luna back up may take time but people will be more impressed with a comeback and will have more credibility long term if Luna makes a comeback again. don’t cut and run stick with it and get it back so people who held recover. that’s the way to restore confidence
thats his tweet:
“4/ We are currently working on documenting the use of the LFG BTC reserves during the depegging event. Please be patient with us as our teams are juggling multiple tasks at the same time.”
keywords, “documenting the use of”. meaning its been used. that is why they are documenting what it was used for. if it wasnt used, why would they document it.
It depends, there are some people that tried to mediate the final price to mitigate losses.
If you didn’t do that, blame yourself. It’s the principle of investment. You can sell immediately when it crashes, or mediate it when price lower.
DYOR
the real question is: since we are completely adrift without a solution to the problem yet, and there is a possibility that Luna will disappear, why is it still possible to trade with Luna?
There wasn’t a hack. It is not common practice when a market exploitation event happens because of an obvious (to some much cleverer and with deeper pockets than me) flaw in the system to just click your fingers and rewind time to a point which benefits arbritrary people.
@dokwon @admins @terra or admin seeing this. Please unpin this post as it’s biased and unfair to have a proposal by the team with the only pinned post when there are tons of proposals out there and many people believe there are far better proposals on the table. It’s a bad look to have his post pinned.
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Listen honey, if you bought the Luna at $0.000001 and now you hope to sell it at $1, you will not succeed, there are a lot of such smart guys, to remove such smart guys you need to create a new token and distribute it by the amount of money invested
Purposes can be CHANGED. You can create something with one purpose than change for something better.
If LUNA was born to fuel UST it don’t have to di.e with UST.
UST has several flaws. Need to be killed, supported by another asset or supported by a strongest LUNA.
I know what I bought, do you? Cause it seems that you bought something (UST) that lost its support (LUNA).
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Without UST, LUNA will still be around it’s IDO price (0.8), because almost zero demand for LUNA and you will never see LUNA surge to over $100, it’s all because of the UST demand, UST is the reason make LUNA’s glory, and now when everything collapse, you want to abandon UST? lol
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Impossible to determinate how much Luna will cost without UST. The market will decide LUNA`s price.
It’s true 
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No I’m not actually because the circumstances are entirely different.
When people were buying before Luna and the Terra ecosystem completely burnt to the ground they were speculating that it would grow and they would profit at some point.
Contrast that with the many people who have been buying post crash who are essentially attempting to ride on the coat tails of Terra’s previous success in the hope they can suck out whatever pump and dump profit there might be from a Terra recovery plan.
If you were buying/holding Luna pre-crash then you were investing speculatively, if you did this and continued to buy Luna post crash then you may of been doing so to try and help and/or cover losses/profit but at least you already had a horse in the race.
If you never had any interest in Luna pre-crash and you now show up to bottom feed off the near lifeless carcass in the hopes it can be brought back to life then you are pump and dump vulture in my opinion.
UST is a promise made by TERRA team and written in their whitepaper, it can always be burn to 1 SDR (for UST that’s 1 USD) worth LUNA, now TERRA halt the UST burning/LUNA minting mechanism, they lost all the trust which is the most important thing in crypto world, LUNA or any new project TERRA bring on will deem to fail if the UST peg problem cannot be solved first
CZ:
“Minting, forking, don’t create value. Buying back, burning does, but requires funds. Funds that the project team may not have”.
That’s the key:where are Terra’s btc funds reserves ?Now people saying on binance and on Gemini ….
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Thank you @FatMan for this proposal. I started with crypto few months back. With the small savings I had, I decided to put about more than half of what I have into UST Anchor, believing in the ‘stable’ coin and also, because I don’t have much experience in crypto. The amount, 25k, might be really nothing for other people but I really need it for my future. Now, I can forget about my future, I need it for my rent. Worst part, we didn’t expect it to happen. Its not supposed to happen for a ‘stable’ coin.
So, making small investor who believe in ‘stable’ coin, whole will eventually help this space. I am sure some of us will stay and contribute If we were to make whole again…
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For sure. And if did used it they need to be transparent on what they did. But of course, their bitcoin reserve could help a lot on restoring the peg and buying the excess luna tokens to burn them.
If they are trying a different approach without burning the excess tokens it will take longer to fix the problem.
I would love to have some information soon, since I’m concerned like everyone else. However I still believe on the project, and I would hate to see it fail. It is possible to fix, at least partially.
fu scam shit