Forget UST. Save Luna.
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work with all exchanges charge 3% fee of all transations, then send them to a dea d wallet.
Use 50% pay back the old luna holder, 10% for future development, 40% to buy back n burn.
for sure no one will list the new coin again
Top priority should go to people who were staking LUNA in terra station and locked during the depeg - they are some of the most loyal terra community members
Burns the excess luna coins quickly
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a fork will be the same, if someone attack UST2, they will mint a lot of LUNA2, in that case, they will propose another fork ?
don’t be silly, fork is never a solution, it just skip the problem, not solve it.
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Oof… 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.
I hope that is not the route they take. The people who bought the dip on LUNA need to be compensated as well. You don’t punish the savvy investor for operating in tbe parameters of the product. Punish the people who caused this ----- UST dumpers. If there is a reset, all Luna needs to be counted and considered.
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I keep posting an opinion with respect.
First of all, I want to read in detail the implementation of the plan for the bifurcation. I have a lot of doubts.
Secondly, as I said in my last post, Luna is very much alive, moving billions in capitalisation, all those smear stories are false, the market has interest.
Thirdly, I’d like to think that the fork won’t hurt any Luna buyers, and that a group of developers will stick to maintaining a “Luna Classic” taking over the current Luna, coexisting with the new Luna (or whatever it’s called).
Fourthly, I think the CEO of Binance and other referents may be interested in absorbing that Luna Classic into their exchanges, as it would be a revulsive to overcome the current impasse of the other cryptocurrencies.
Please be responsible and try to revive Luna. In this way, everyone regains their trust in you that if they fail again, there is someone who will stand behind us.
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The current chain cannot recover fully.
So the overall debt and asset will have to be restructured.
Here is a proposal with $UST to $UST2 on 2:1 ratio:
A new chain may never launch at all.
Would you rather collaborate to revive, build, and here, or walk away from it all?
This is like saying the US economy would never recover after 2008 IMO.
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Intriguing…
Burn is happening? Anybody can confirm this please?
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Does anyone know if they are really burning?
it’s not.
if you see ‘burn’ method called in ETH blockchain it means someone transferred Wrapped LUNA from Eth blockchain to Terra blockchain.
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If you go forward with the forking plan rather than burn you’ll have serious legal repercussions and your reputation will no longer be salvageable. People will come at you with pitch forks. Do the right thing. There’s several burn proposals that will make everyone happy. Be the hero and no longer the villain.
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It would of course make sense to reward and compensate the biggest and most devoted holders!
But at the same time you should certainly also consider compensating those who bought Luna at 15-10-5$ and decreasing UST during the dooms day… They are just as much victims though in less quantities…
To be fair!
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Not this one. LUNA truly has no purpose without pegged assets, such as its flagship UST.
Moreover, promises cannot be changed. UST is a promise, an obligation. UST’s future is questionable, going forward—the future of Terra is questionable; but paying UST already issued at a rate of $1.00 per 1 UST is non-optional.
You are an idiot. I will say that straight, for my patience wears thin with such idiocy. Moreover, you are a corrupt idiot: Your assumption that I only argue for my short-term self-interest is your own psychological projection. Your soul is showing with your above-quoted stupidity, and it is an ugly sight.
I currently hold zero UST. I am a LUNA whale, from buys below $0.00001. I could already exit at something like 100x gains—I don’t know; I am not paying much attention to the current price.
I don’t take my profits, because I entered my LUNA position for idealistic reasons. I bought my LUNAs for the long term. I took an extreme risk on Terra’s recovery, because I want for the world to have permissionless price-stable money—that is to say, I want for UST to be recovered. Naturally, for the extreme risk I took, I expect an extreme reward—eventually.
I am patient. I can wait. At present, I do not care if my LUNA goes back down to $0.000001, and stays there for awhile. I don’t care if it people are treating it as joke money like SHIB. The only thing that would upset me is if @dokwon rugs me, and rewrites the blockchain to steal my LUNAs.
I am patient—unlike the idiots who damage the long-term value of my LUNA with their myopic complaints and self-defeating demands to abandon the foundation of LUNA’s value. That means you, @rnneto. Shut the hell up. You are hurting my prospects for long-term >100,000,000x gains on my LUNA, which I duly expect to receive.
I deserve that, because I believed in Terra at its darkest hour—I put my money were my mouth is. I’m a real lunatic, having thrown my good money into a dying LUNA to give it some spark of life. And if @dokwon is truly the “master of stablecoin” as he proclaims, then I will get what I deserve. I don’t mind waiting for him to work some magic. Pay off UST holders, slowly work to restore confidence, burn down the LUNA supply in some honest way that doesn’t steal from anybody—and then, make a new and better UST with a reliable peg. I can wait.
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Do kwons proposal is a terrible idea
Stop living in the past, whats done is done. We ALL Lost money and its gone for good so people need to live with it. If we all lost money we are ALL in the same boat. This proposal helps some and not others and that will fracture us forever.
Any plan should start from 6.5t Luna and UST is at .15 at time of writing. Either we can save one/both or neither. People can buy Luna and UST right now and make their money back if a solution can be found but at least we WILL ALL BE IN THE SAME BOAT.
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