I don’t know why I keep seeing such garbage posted as comments. The reason why someone buys something is completely and totally irrelevant. If you made losses because of the dpeg, that’s not my or any other investor’s responsibility. The Luna team is responsible for repaying your losses. What the Luna team is basically proposing here is to steal from ‘marginal’ investors to payout your loss and also their own losses. That is simply fraud and will end up in jailtime for them.
If they want to repay you, they have to come up with a plan that doesn’t screw over ‘marginal’ investors. They need to resurrect Luna again and people already told them how they should do it. They need to buyback trillions of tokens with their own reserves and transaction fees. This will rebuild trust and resurrect the network. Once the network is resurrected they can get in the money necessary to repay their debt to UST holders.
the problem is that terra did not ask that the exchanges delist her or pause the exchange, it is strange that they let everything continue to be traded.
then they too are guilty for not taking action.
being that they are a team.
they must take responsibility and return the money to all the investors before and after in some way
If you think the proposal is a good idea to rebuild the damage and regaining trust from the community, then why is trading still allowed on many big exchange’s? Now with the whole world knows about the collapse, why are you allowing many new investors to jump in on a sinking ship? This will cause more damage and distrust in the community and you’ll left with zero credibility.
My suspicion is that the Terra/Luna foundation are trying to buy back in silently, to burn down the supply without causing a massive buy off. I just wonder why the LFG foundation has send billions of dollar’s in BTC from the reserve to Gemini and Binance, while LUNA is heavily over minted for this exact reason: to save UST.
I agree, I was taking on risk. But we’re talking about compensation from Terra and accountability.
Terra proposed that 1UST would equal $1, and buyers bought it on that basis. People who bought UST when it de-pegged had no reasonable expectation that 1UST should equal $1. So, when talking about compensation, I am talking about who are Terra accountable to? In my opinion, they are more accountable to UST holders based on the implicit agreement that didn’t hold up, i.e. that 1UST would equal $1.
Please consider, this is not a wishlist-party!
But a financial and thus legal issue.
Any attempts to treat holders of Luna or UST differently, be it stakers or developers or whatever kind of holders, no matter what time, would call for legal action.
Also You cant just swap your liabilities to something else, be it a different token with different economics or whatever. This is not Minecraft-development, where everything is possible. I think You now have experienced why You should ask a lawyer on that matter, not a developer, at least this time.
It would be plain illegal to distribute something like 40% of whatever to whoever You feel deserves it most.
Also why are developers bailed out twice, in two different bags?
They are paid for their job, if their not, its their own fault. Maybe they are also holders of tokens. Then why treat them differently?
Also you cant just start from scratch and leave people rekt. I understand this would be nice for developers, but you owe people! I dont see you abandon everything and just start something new.
Kill UST for a while. It´s the part thats not working and crushing everything. Rebuild. Bail UST holders out over time and if you find a stable way then even restart UST.
And start burning Luna for christs sake.
This proposal looks like a developers wet dream but its far from all legal realities and lacks responsibility. It wasnt me as a holder (LUNA on CEX) who messed up the algos!
I dont want to see developers in a jail cell. I want to see them start rapairing the damages (UST and LUNA) like their lives depends on it.
Amidst much competition, this wins the prize for the most egregious stupidity of the day!
You are insulting @AlissaCooper, when she is right—and you have no idea what you are talking about.
The more the demand for UST, the less supply of LUNA. You got it backwards. You don’t know how the Terra algorithm works, you don’t know how technical stuff works, you don’t know how to use apostrophes in contractions, and you dared to insult the intelligence of someone who is entirely correct.
Everyone thinks of their own interests. Those who oppose the new luna are new investors. Why is it not considered to reproduce instead of burning? The lunar value before the attack is certain, eg $45, and the costs of the areas after the attack are also certain. the best solution is to give luna to everyone based on the lowest lunar value, i.e. 0.00000112 at their own cost. The total supply may be 650 trillion, but everyone has a usd value.
hmmm, you really need to study why LFG has the BTC reserve in the first place. It was designated to back up UST as it was supposedly a stable coin 1 ust = $1.
I purchased 90.5k UST at full peg on May 9th, and I immediately staked it on Anchor via the “Earn” platform. I fully intended on keeping UST long-term. On May 10th it de-pegged aggressively. I swapped for LUNA and then bLUNA, and “slow burned” on Anchor. I hope that Terra considers this fact when bucketing me. I would have never swapped UST if it remained stable. But due to the attack and aggressive de-peg - I had to do something.
I hope you consider me a UST holder that purchased at full price. Everything is verifiable.
nobody who bought luna over a dollar did it to build and support luna any more than someone that bought it right now for a discount. everyone did it to make money for themselves, lets be real.
In many cases the people who bought at $0.00005 are the same people who bought at $100.00 or any other price, even right now at $0.0002. Long term holders are dollar cost averaging. You could do this too.
Imagine if they really ended up treating tokens differently based on when they were bought. Imagine the legal repercussions for the company, and the message it sends to the entire crypto market.
If the old investors are broke, they can’t put more money in to raise Luna’s value. New investors, with fresh money, will make a profit, revalue Luna and thus save the old investors. But for this to happen, Luna must be burnt, Luna must be clearly supported and certainty must be given about the continuity and gradual reduction of the money supply.
I had and still have my coins on coinspot Australia please make sure we are reimbursed as well im out 3 grand aud through luna coin i had no idea you was printing 5 trillion coins i bought at different levels only because there was under 300 million or so of these coins!!