He probably bought a big yacht with it. Or he is putting it aside to finance an army of lawyers.
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That’s the only way to save Luna and entire ecosystem. If they want to continue this project and defend all customers , that’s the way. Otherwilse, if they want to rugpull then just give the money to what they wish and leave everything. No one believes a fork could work because they will insta sell everything.
can you please explain in more detail what this link is and what is going on there?
They cant just leave. Luna team will see lawsuits from here to eternity.
They marketed ust as a stablecoin. Which was backed with speculative assets. Thats deceit.
He chooses to fork and distribute to his liking.
He hyperinflated luna.
Not only that he’ll destroy the Luna ecosystem because I don’t see binance crypto.com or any other major exchanges listing Luna V2 or their ecosystem tokens he needs to think about this carefully
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fork and distribuite is the same than leave. Giving “food” to his friends and some random lucky guy then tell everyone that they tried to the their best making a failed project like Luna2.
Everyone knows there are just two ways :
a ) Scam and leave most your customers behind forking and distribuite few funds
b ) Build and burn your coins, develop and recover the value of the entire ecosystem. There are many proporsal and ways to do it but it would takes time. You have volume and interest behind
Binance wont list. And if it gets listed somewhere.
The whales will dump it. Leaving us with useless tokens.
If we do get any. I see then messing up the airdrop.
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That would also mean you would have 10 percent less value.
There are other, better, and faster ways to burn tokens, but not until UST is propped up.
UST and a tax on transactions are the tools to burn tokens on mass. See my proposal for details and please feel free to add any ideas or input. (Note also my replies contain new info I haven’t yet updated the post with.
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It wouldn’t be listed on crypto.com either because we’ll make noise. Its like slapping someone in the face after they tried helping you
My Simple plan for saving the once beloved TERRA LUNA universe:
Step 1.
Use 50% of the reserves to buy up as much of the foolishly minted LUNA supply as quickly as possible to get the price trending up. This will build quick momentum while all eyes are still on this project.
Step 2.
Schedule an on-going predictable burn to decrease the idiotic amount of LUNA now in circulation over the next few weeks from the LUNA acquired with the reserves. Once it’s clearly on a deflationary track more momentum will pick up.
Step 3.
Reestablish the UST Peg only after the LUNA supply is resolved. Let it be backed by the remaining 50% of the reserves in the meantime and let it role with the punches. If re-pegging eventually becomes practically impossible, let it ride into the crypto sunset as a meme to future generations.
Lastly:
The Eggs are already scrambled, so don’t fork it, and definitely don’t risk alienating any more investors by taking snap shots of previous network states thinking those previous times on the chain represent the most loyal folks to this project.
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They probably didn’t do anything illegal since the structural flaws were used AFAIK. Still, I blame them from a moral standpoint, given the consequences (were these suicides real ?). Wonder if the team knows who started this… (wouldn’t help to go public though).
I thought a lot about this yesterday. The proposed rug-pull is technically infeasible in practice. This has made me a little bit less concerned about it.
Thanks for your input !
Perhaps Kwon was rushed to come up with anything and could not double check…
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Is it a completely ridiculous idea to hear a possible solution to make Luna more valuable than Bitcoin?
If your reading this your are probably completely, utterly, and royally f*cked. This was obviously an attack on the entire crypto community and we need to make it right. THEY CANNOT WIN. THEY ONLY WIN WHEN WE STOP. The biggest crypto failure can be crypto‘s greatest success.
It’s very easily obtainable by creating the perfect asset, that’s not only collateralized, but says the hedge fund magic words “non correlated”. This will drive in big institutional money, because we are essentially creating the ultimate asset the fund managers only dream about. Currently crypto trades with the stock market, it trades very much like a tech stock.
We burn Luna and we incorporate a burn tax that not only burns Luna with every transaction but a burn tax that buys a physical asset backed stablecoins like Paxos which stores physical gold in brinks vaults in London with every coin. Paxos is also working with Warren Buffet owned nubank, so there’s obviously a lot of trust there.
We would also incorporate other cryptocurrency‘s like Ethereum, Bitcoin, Avalanche, in addition to other physically backed stablecoins. All of these assets will be stored in a community treasury.
We do all these buys with an algorithm that attempts to lower the beta coefficient (correlation) of the treasury assets to various world stock indexs, like for instance the S&P 500. We also have rebalances of the treasury assets by the same algorithm.
We have an elected DAO to oversee all the treasury assets and first launch this algorithm with a greybox type style where the DAO will need to approve the decisions of the algorithm.
The DAO must have complete authority with the treasury funds.
We would compensate UST and Luna holders as per Do Kwon’s proposal with this new version on Luna
I would like to end this post by stating…
We have people on this forum saying they’re going to commit suic*de and other sick people edging them on.
SUC*DE IS NEVER THE ANSWER. YOUR LIFE IS WORTH SO MUCH MORE!! I PROMISE YOU IT GETS BETTER.
I lost so much money…the money can come back peoples lives CANT. Let’s all get through this together and make crypto biggest failure turn into crypto‘s greatest success.
I would love to hear your thoughts?
—NFhouse.club
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I think from the order books it looks like 500 mil would get about a 5x increase in price. Yesterday Luna had a 10x increase in price over 24 hours. I think i’m missing something. Please clarify
The number of tokens has increased by 20,000 times. after the fall of LUNA. It is necessary to print as many LUNA tokens to increase the volume of LUNA from holders until a drop of 20,000 times, after that, exchange all LUNA tokens 20000: 1
for those who buying luna, no matter before or after attack. u are expecting it increase
its a investment, then u know the risk.
no one have ever guarantee luna value.
but ust holder looked into the terra whitepaper and trust its peg 1 usd.
ust holder is more likely a saving account instead of investment.
i am a ust holder, still accept DK proposal, we have to face reality, buy back luna or ust is not possible. even the team raising fund 10b, even 15b, buy back still not work at now.
but interesting thing is, no matter how u shout for buy back or refund.
desicion is making by the terra team, so just be it and hope for new fork and new token.
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“Those who has luna you know the risk but UST has no risks BECAUSE im UST holder”
Every single asset in the world have risks my friend, even USD or EUR.
“we have to face reality, buy back luna or ust is not possible. even the team raising fund 10b, even 15b, buy back still not work at now.”
Why is not possible ? You can tax every transaction , burn and build to keep the interest of this asset. That’s the only way you can recover 1 UST value in time. All other decisions is give me back some money and run.
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New tokens will be worthless, everyone will dump and no new buyers will want them because they have no value, no backing, buy and burn, only option time for Do Kwon to empy his bank account and sell all his assets and be poor like the people he screwed
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6T luna supply on chain.
so how much fund needed to buy back and if terra announce buy back, how much will luna rise and make buy back more diffcult？
and most important thing is…i guess terra has already runninh out of fund.
if they can raise 10-15b, just simply use for backed for ust, then the mint mechanism will work, once ust supply increase, luna will use for mint ust.
Conclusion is
- terra team no fund.
- luna value has lost forever due to a hyperinflation and value has been taken by whale and off the table.
how can u recover the chip or winning the chip already off the table？
Listen, honey, you are a thief. Period.
Rewriting the blockchain to redistribute tokens is theft. Scam. Rug-pull. This is not open for debate.
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Dear Do Kwon,
Personally speaking from the heart. You had an idea, this turned into a dream and you achieved it. Not all outcomes are de best, not all the dreams will flow without rocks in the way. Everyone knows the risk and all the community always got your back no matter what. The next step you should make is, not looking into all others responsibility but figure out what went wrong with your “dream” and how can we pass through the rock/problem, not fight it or give up. If your stable coin and defi machnism can be fixed, then fix it and continue your dream, your achievements. There will always be people who will lose and win, that’s life not your goal or the problem here. It’s only your life goals in stake.
Are you willing to give up on this dream and put all hard work and tears underground or are you prepared to be the first one rising from the ashes and prove to your self that YOU can achieve your goal, your dream ? Fight for you, the ones who believe will follow you, the others will get on with their life. Respect yourself. And pull it together.
Luna it’s your baby, not the others. Protect it!