Terra Ecosystem Revival Plan

hi, if the fork is approved, I will put a new ceo to a vote for lunc management and the burning of lunc and corrections, proposed through Dao.

Hear Me Out Here:

What if we continued with the original terra coin and did a burn then lets say hypothetically we were able to burn 6 trillion coins. Down to 500B coins. We could then add 500B coins so that the entire supply was 1T. The numbers do not matter but just for reference

We could then have the old luna holders getting 100% of the new 500B coins. I’m sure we could do a percentage like 40% 40% 15% 5% however you want to split it up.

It would make things more clear and we can continue with the original Luna and go from there

  1. Who pays the 1.7Bn or whatever for the 6T coins to burn?
  2. Who contributes the assets that magic 500Bn coins into existence without re-diluting the remaining 500Bn?

Hello,

First of all, there is a serious trend towards Luna on Earth right now. The name Terra is better known for Luna than UST. As you said, Terra is bigger than UST. Luna is the collateral of the UST unit. When you apply for a place or open a company, if your collateral is bad, they will not approve of your work. What you have to do here is to stop the UST-related transactions for a certain period of time, then take the LUNA from the bottom and bring it up. After this process, if you make an announcement to the community as “I burned what I bought”, you will ensure the continuation of people’s trust in Terra. When this trust is established, Luna returns to its old days. If Luna gets back to its old days (I’m sure it will.), UST will have better solid collateral than old days.

When I examine the shares on social media, the thought I mentioned above is generally dominant. A Fork or a different action that you will do outside of this thought will not give Terra confidence again. I hope you care about my thoughts and the thoughts of people who trust you.

I wish you good work

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I hope Kwon and the OG developers are in jail very soon. All funds frozen. Burn happens and Gemini and the other MM get prosecuted.

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I don’t want a forum but if it happens, it has to be from the community #Lunc that embraced with the level of volume that the new ones came in after the fall.

Onlar aptal değiller. Aptal gibi davranıyorlar.they just made 1000x all their money.

I was assuming LFG was going to do this burn. Or Luna whales i suppose. I mean this is on Do and his team really. Sounded like CZ wanted the burn

A picture worth a thousand unspeakable words:

That screenshot was taken at 2022-05-16 07:15:26 UTC, about 14 hours ago. I’ve been busy since then.

It happened less than 20 minutes after I made the very last post on this thread with the forbidden word: Post #5220 at 2022-05-16 06:55:34 UTC. Thus, I reasonably infer the word-filtering may have been a reaction to my prior post.

Following is an appropriately Bowdlerized version of what I tried to post. If the words Are, You, Gee are doubleplusungood, then I can use radio alphabet instead: Romeo, Uniform, Golf. Hey, Are You Gee? should be a new Mike, Echo, Mike, Echo for this.


People need to start calling this proposal what it is: Are-You-Gee pull.

If it’s dressed up in fancy terms, framed in a way that plays to people’s biases, and is presented in a persuasive manner, then people don’t see it for what it is. Do garden-variety scammers pulling Are You Gees on TG label their projects “Are-You-Gee Pee You Ell Ell”? Of course not!

But the moment that somebody screams “ARE-YOU-GEE!”, everyone knows what this means.

Use the “crypto” colloquialism. It puts things in a nutshell, in a way that the ordinary person can understand instantaneously. Selling a token, then arbitrarily cancelling it, resetting people’s wallet balances, and changing it to another token in a way that sucks value away from the people who just paid real money—yup, that is obviously, indubitably, unarguably an Are-You-Gee!

In this case, applying the proper terminology is merely the act of calling out the Emperor’s New Clothes.

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LFG don’t have the capital. It’s mostly gone. 300BTC is what, USD9m? Whales become whales because they don’t give their money away. Sorry to say, I hope some sort of asset recovery can be done to give UST holders something but I fear it will be a small fraction of what they invested.

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Approve the proposal approved by Vitalik and CZ. Fatman proposed the solution. No one wants this trash

A general notice to all readers of this thread: Please don’t fall for misinformation, misunderstandings, stupid ideas, and outright malicious Sierra-Charlie-Alpha-Mike-Sierra.


Interjection: This post is a mess, because I can’t even make a PSA to protect people without Bowdlerizing it. In this post, I am not even applying the doubleplusungood word to Terra! This type of word-filtering is lunacy; it shows that they are melting down, spinning out of control, losing their grip on reality:
sierra_charlie_alpha_mike


I see a flood of bad information and bad ideas in posts over the past 14 hours. I have no time to address each one. Here is a summary list:

  1. Some people are looking to bridge wrapper token burns for evidence of LUNA burns. This is apparently based on a technical misunderstanding. You cannot see LUNA burns on Ethscan, or the block explorers for the many other chains that are bridged to Terra. Most especially, if you see “Wormhole” or “Portal” in the wallet description, then you are looking at a wrapper token. Burns of the wrapper token only mean that money is moving back and forth across the bridge; it does NOT mean the burning of LUNA.

  2. Some people are advocating the burning of wrapper tokens. If you burn wrapper tokens on other chains (ETH, BSC, etc.), then depending on how that particular bridge handles it, all that probably happens is that your LUNA becomes permanently, irretrievably stuck inside the bridge. You do not burn any LUNA.

  3. Some people are advocating that holders should burn their own LUNA, without compensation. This is either wildly foolish, based on innumeracy—or a malicious Sierra-Charlie-Alpha-Mike by people who will keep holding their LUNA, while they tell you to burn yours. The reasons are so obvious that I should not need to waste time explaining it. Think of the law of supply and demand, think with common sense—think, just think instead of believing and obeying whatever you see posted on the Internet!

  4. Some posts have wallet addresses for various chains, advocating the sending of LUNA or wrapped LUNA. Duh. Do NOT blindly send crypto-coins to arbitrary addresses posted on an Internet forum. Never do that! Especially not when every Sierra-Charlie-Alpha-Mike-Mike-Echo-Romeo and his dog must now be spamming message boards, “Send your LUNA here to help the community with a (non-existent) mass-burn!”

This list could be continued, but it will be so long that no one will read it.

Unfortunately, people who are reeling with shock from financial loss have a heightened vulnerability to Sierra-Charlie-Alpha-Mike-Sierra and/or misinformation. And Sierra-Charlie-Alpha-Mike-Mike-Echo-Romeo-Sierra know it.

Act with a cool head. Don’t believe everything that you read on the Internet. Have caution.

In cryptocurrency, you are the only one who is ultimately responsible for the safety of your funds. If you send your money to a Sierra-Charlie-Alpha-Mike-Mike-Echo-Romeo, or pointlessly destroy it, then there are no refunds. There is no remedy. That is a feature, not a bug. Your crypto-money is under your direct control. No one can control what you do with it, which also means that no one can undo your mistakes to save you.

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Community the answer is very simple for Do Kwon, the right thing is to have LUNA burning and full stop

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Do Kwon…don’t invent anything, just burn LUNA. Just this

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This feels like a rigged election. Sure vote for whoever you want…this is your president even though no one voted for them.

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37,000 Luna is not worth $9,000

Based on our volume which is around 3B $ (last 24h) at the moment if we implemented only 3% burn tax on each buy and sell transaction we could burn around 300,000,000,000 LUNA at the time of writing this proposal (I took price of 0.0003). This burn tax could be a measure put in place until the supply is low enough for us. You could even implement temporary 1% of the volume going to the people that lost money during the crash. Wouldn’t that be wonderful? Motivation We have huge volume that can be taken advantage of. Instead of fighting with each other we should implement some measures that could help the ecosystem.

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Plain and simple a fork would result in legal actions against the LUNA governance (fraud), the only solution that would not have legal implications is burning the excess supply weather rebuying and destroying or implementing global tokenomics burning at each transaction. Business peoples, exchange execs have spoken and have been ignored

Abandon this arrogance that has brought of all of us in this situation and listen for these people that have lost all their money and some also more than that !!

There are better proposals on the table. You must save Luna v1.

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Quite correct.

I myself previously hoped that whales may help pay off UST obligations, at least—but only to protect their own investments in other ecosystems. The implosion of Terra may have an outward-rippling—no, outward-ripping spiral of catastrophic damage. Terra is hooked into so many things; and the public trusted it so much!

But that could only work, if TFL and its leadership were behaving rationally. If they are melting down and losing their grip so badly that they categorically forbid all use of the words Are You Gee? and Sierra-Charlie-Alpha-Mike on their own forum, then there is nothing for other ecosystems (and their investors) to do but to back away, cut losses and cut ties—dissociate themselves from Terra as much as possible, as soon as possible.

As recently as Friday—that is, before this “proposal” and the ensuing discussions here and elsewhere—Terra still had sufficient remaining shreds of public confidence that they could have at least failed gracefully, put the keeping of promises first, then slowly rebuilt. I think so, and I myself am evidence: I had confidence in that!

Now, numerous other businesses in other ecosystems need to extricate themselves from any entanglements here, and work to restore their reputations from collateral damage. I think that intervention partly or wholly to refund UST holders probably could have been cheaper, overall and in the long term.