I agree. CZ probably wasn’t aware that they didn’t have enough reserves. I think what he wanted to say was that UST should be protected since it’s supposed to be stable. Vitalik also agrees with this.
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Can’t really do much about that. People will panic. We always knew a bank run was possible. Measures should have been put in place to prevent bank runs but they weren’t.
A 21 day unlocking system was in place for staked Luna but no unlock period for the billions in Anchor. That was a massive mistake. If a lock was in place, we could have regained the peg easily as there wouldn’t have been a mass exodus.
Perhaps the locked funds in Anchor could have been used to provide liquidity on curve which is where the problem first occurred. Which also adds LP fees along with the fees from staking bonded assets.
You cant blame people for trying to save their funds.
Why is the Terra team very silent now, now the statistics of the total supply of Luna have stopped, and now it keeps showing the statistics of May 14th is 6.91T, but the total supply of Binance is declining, the total supply of Ethereum The volume is also declining. Is the Terra team secretly destroying too many Luna coins? Suppose they tell the community that they are destroying too many Luna coins, maybe it will cause the price of Luna coins to rise and put more pressure on their funds, maybe it would be better to burn them secretly, this is just my guess, I hope Terra The team completed the repair work as soon as possible. Compared with the group holding UST coins, the situation of the Luna coin group was the worst, because the value was almost 0, and the price of UST coin remained around 0.16$, at least they did not lose all Money, when the value of Luna rises, the value of UST will also rise soon. In any case, I support the Terra team and hope that they will restore the ecology as soon as possible. When the value of Luna returns, I believe everyone will not say anything more. , may be happier
Why can’t they just buy back what they can, split it out and compensate those that lost big? it won’t be a lot but at least it’s something?
Burn the remaining and rebuild - this sounds like the best logical answer?
At the end of the day, this is crypto and extremely volatile.
It’s a tough lesson learnt but I believe this will also make the team stronger in the long run.
it’s useless for you to give opinions to this arrogant person, in the end the founder will run away with your money and will never want to be responsible
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Mày nên câm miệng lại và vào tù.Kế hoạch in thêm token của mày đã bị phá sản và làm nhiều người phá sản
Hats off to you. Smart move, beautifully executed.
I wish that I had enough LUNA now to accept selling some to recover principal, with the rest for a long-term hold. I have done that before, with a coin that outran BTC >10x (never mind USD!) later that year. But in this circumstance, I am grateful for every LUNA I got; my LUNAs are not for sale. I will keep them all, even at the risk of losing all my principal.
Fortune favors the prepared. It’s not as if I started with wealth; I’ve sometimes had to scrape things together sat by sat. After I built things up a bit, I blame myself for having run myself down to a position from which I couldn’t more fully take this opportunity—just as I blame myself for having been in a position where I could get my BTC wiped out by a market dip. I was safe and sound in March 2020, and in late 2018/early 2019, and… I should know better than this!
You managed your assets better, so you had the money available for what may have been a once-in-a-lifetime opportunity. And I can see that you really believe in LUNA.
I think there is somewhere here a lesson for a subset of LUNA holders who seek some sort of a crypto-market refund via a hardfork-theft scheme.
Anyone knows why these two threads got locked for few hours? Someone didn’t like the idea or what?
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there is a guy @dokwonisthebest trying to block all the other active proposal threads by shitposts
And @terra admin didn’t react? I mean… wtf
I understand now that Fatman’s proposal will be shut down, because he will only make some people flee, and there is no way to gain trust, and others will continue to make noise, but the Terra team has paid hundreds of millions of dollars for this, which is very important to Terra ecology doesn’t help. I think it’s right for the Terra team to spend money in the right place. We must work hard to recover Terra ecology, otherwise everything will be in vain. Only in this way can we restore everyone’s losses. Maybe this is the way to go. The best way must be accepted by everyone
guys they should listen and cooperate with cz.
they proved themselves unable to get straight.
It doesn’t matter if we agree with them or not. As long as its alright to have good discussion. Both threads should be unlocked. If not it will be a normal censorship from my perspective. @terra unlock both posts.
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I dont agree. Showing commitment and responsibility is the only way to regain trust.
dokwon proposal focuses on the existing community not the future of luna
My humble idea :
Validators should reset the network ownership to 1B tokens, distributed among:
- 200M (20%) to Luna holders before the depegging event (last $1 tick before the depeg on Binance should be reasonable), bLuna, LunaX and Luna held in contracts should also be recipients, minus the Terraform Labs account at terra1dp0taj85ruc299rkdvzp4z5pfg6z6swaed74e6. The new chain should be community owned. Preserving decent ownership of the network in its strongest believers and builders is important.
-
200M (20%) to UST holders pro-rata at the time of the new network upgrade. UST holders need to be made whole as much as possible
50M (5%) to Luna holders at the final moment of the chain halt – last minute marginal luna buyers should be compensated for their role in attempting to provide stability for the network
50M (5%)** to Luna wallet the depegging event who support full ecosystem
100M (10%) to the Community Pool to fund future development.
400M (40%) an airdrop reserve pool for people holding new token (vesting 3-6-9-12 months) - All Luna besides the third tranche should be staked at the network genesis state.
- The network should incentivize its security with a reasonable inflation rate, say 7%, as fees will no longer be enough to pay for security without the swap fees.
i think this is they way, forget old luna ; look to the future
I think we have wasted too much time discussing, everyone must come up with a reliable plan as soon as possible, instead of arguing here, it is right to close the topic, we must improve the plan and implement it as soon as possible, Do Kwon’s plan is not perfect , we can propose revisions instead of wasting energy discussing other routes, otherwise we will not have results in a month, which will hurt the community the most, and we must concentrate on restoring Terra’s ecology
Thats the role of the developers and the team. Our goal as community is coming up with the ideas so they can make better decision. They are probably censoring content on purpose so the posts they don’t like aren’t on top. I don’t like this move. If the content was really banned because of manipulation then they should unban them immediately. What are @terra admins doing?
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In fact, everyone bought Luna coins or UST coins just to make money, we only need to understand everyone’s basic needs to regain trust, and now the only way is to normalize as soon as possible, revealing any news will bring bad news influence, be patient
They invited Fatman to their private Discord, so once he wakes up he can message the admins but it’s not good that there are no online moderators monitoring here.
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good to know. is this confirmed?