anyone know anything about this situation?
Why is this being ignored? 8 Steps to Save Luna now - Economic Refactoring Proposal from industry professionals
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I don’t get it at all, i bought luna worth $2M on binance exchange before halt, so you say i will get 10% of my bought tokens ?
- 100M (10%) to Luna holders at the final moment of the chain halt – last minute marginal luna buyers should be compensated for their role in attempting to provide stability for the network
Thank for your revival plan to good to know you’re breathing. Can i ask you? how you will calculate them? If i have 600000 Luna before halt chain halt. And if i have screenshot. Please I am waiting respond. thanks
In my opinion
The best solution is to burn massively(same amount) daily for the next one month
This creates confidence in Luna fans who can then buy back in and gain from the daily burn
I say daily burn so that the majority of people can hold and not just sell-off
By the time one month of daily burn is completed, trust will have been reestablished.
UST should be unlinked to Luna. Probably sell UST to Binance or an interested buyer and they can create a different backing for it.
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Do Kwon is probably just holding a bunch of UST and therefor he wants 40% of the network!
His Luna are so inflated that he doesnt care about LUNA holders obviously! VOTE NO
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It is nobody’s fault if you bought into a token near its (quite unrationally priced) top, and kept it through the end of a bull run. 60$ is not the true value of LUNA, even before all this schzang.
Hey Do, hope you and the team are hanging in there alright. I think this is a solid proposal at it’s core. My mindset and I believe a large chunk of the community’s mindset is that the value worth preserving on Terra is the ecosystem of incredible dapps that have been built (whose quality & UX is well above par if you look at the dapps of other chains) as well as the talented developers that built them.
There are some finer points to be addressed, one of them that I feel is very important is ensuring we include all appropriate LUNA derivative holders in the 1B LUNA redistribution. List/thoughts below.
LUNA Staking Derivates to Include in Redistribution:
-
bLUNA -
stLUNA -
c/y/pLUNA (Prism) - LUNA
x(Stader) -
nLUNA (I didn’t use Nexus much, but I assume nLUNA has a similar mechanism to the others listed? Please discuss/correct.)
Please reply with any LUNA derivatives you believe should be included in the redistribution along with your reasoning and I will update the list for visibility.
There are a few additional points I would like clarity on (asked assuming we include all logical LUNA derivatives in the redistro):
- Will LUNA/derivatives in LPs be included in the redistro (e.g.
LUNA-bLUNA&LUNA-LUNAxon Astro, orPRISM-LUNA&PRISM-cLUNAon Prism)? - Will
bLUNA in the 21-day burn process back to LUNA (in Anchor) be included in the redistro? What about derivatives (e.g.cLUNA, LUNAx) in the 21 day burn process? - Probably a dumb question, but would only “on chain” LUNA & UST qualify for the redistro, or do wrapped versions on other chains qualify for the redistro as well?
I’ll edit this comment based on community feedback & add any important further questions that come to mind. Please reply if you have any input and let’s boost visibility to ensure all appropriate LUNA derivatives are included in the redistribution.
It’s been a rough few days, but hang in there everyone. Terra as a product (both the network and all the individual protocols built on top of it) has so much value. It withstood a DDOS attack while experiencing super high valid transaction levels while the price dropped 99%+. So many other blockchains wouldn’t have been able to handle the load, but Terra performed exceedingly well given the circumstances. Add to this the fact that there is an incredible ecosystem of talented developers, builders, and products whose UX is far-and-away better than anything else out there, I feel we have a chance at rising from the ashes and building something great over time.
Nice dokwon 
I have severals ideas also.
1/ Make some garantee people like that. the first New coin LUNA or UST Impossible to short. => by this no more attacks like that by so we would have been safe. °
2/ Donate. Donate as much as possible to the LUNA Holder to the UST HOLDER who stake during the attack and price crash. SO they can be refund and happy and trust more and invest more.
3/ How refund?
• Begin by a must Blocked Some LUNA + YOUR UST in a a box or in a staking box
for exemple for 1 years or less depending and then each days the rewards of
1$ 2$ 5$ 10$ fall in wallet as a dividend depending the stake you got
exemple 10k UST + 10K x ‘y’ x Luna (‘y’ is a coefficient to determinate) = > 1-10$ dependind the revenue of TErra luna.
then the 100k ust + 100k x ‘y’ x LUNA => 10-100$ x 1.1 (booster) for exemple.
• By this project got time to be more massif and organic and to begin again like before.
4/ Reducing a lot the ust APY is good ( a period of sacrifice could also be determinded)
Instead of reducing 19/20% today to 4% fix we could also all vote for a Sacrifice
0% for some time or 1% for 2 month for being more up after 3, 4 %
Or even an accepted all sacrifice of all user comunity lover of terra to accept a negative - 2% or - 1% for a month by so all contribute paying for restoring the PEG of UST.
5/ Targeting the peg of UST fast is important by so people will trust again UST terra.
6/ We can also create later LUNA 2 or UST 2 to make it us great again.
7/ A fork is good.
8/ We can also decide to colobarate with binance. A relaunch launchpad of UST 2
We sacrifice all UST and LUNA remains to participate to a launchad of UST 2 that destroying the whole or 50% of our token to rebuild again.
8/ I got a tons of Idea if you like.
Hope you will do something great for the PEG Dokwon then we will help LUNA also
◘ If you like feel free to send coment some <3
Things to consider:
We have seen that network validators are able to coordinate enough to “switch off” block production.
If they had coordinated on the first day, the network would have switched off and no buys/sells would have occurred.
Why didn’t this happen? Without validators, nothing happens.
Check validator wallets. They receive fees for processing network tx’s - were they dumping fees earned as they watched the carnage unfold.
If they were, why should they receive compensation?
Who was levered up from high risk to low risk?
Risky borrowers are willing to risk people under them who are borrowing conservatively.
This should mean, they receive less compensation than those underneath them because they “knew the risks.”
Someone with a liq price 5% away is riskier than someone who was 95% away, but reached 100% due to high cascading liquidations above them.
Only compensate liquidated borrowers that were levered against LUNA or UST.
Who was holding UST at $0.80? This shows fortitude. Did they purchase any LUNA when peg was dropping in order to help repeg? If so, they are loyal. If not, did they switch to another stable? They are disloyal - they shouldn’t receive anything.
Who was purchasing LUNA/UST after $0.80?
Arbitrageurs shouldn’t be penalised for doing the job they were meant to - buy LUNA to repeg UST. This mentality is the primary tool used to keep peg.
They should be rewarded dependent on how deeper the price dropped during their purchases.
The deeper the token discount, the higher the risk. They should be rewarded.
Cutoff should be up to the moment Do Kwon announced this recovery plan.
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To me, the fairest thing to do is accept UST is likely not going to re-peg, burn the minted oversupply and at least let LUNA hodlers be rewarded by the rise in value which comes with that.
After that, new projects can start to be looked at.
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Its so good to see Do Kwon. Reinforcing honesty and integrity. 
We the community should stay strong and support Luna at this moment.
I have a question , what about Wrapped Luna on coinbase Exchange ?
Will Luna reach atleast $10 ?
Many Thanks
Hi Do Kwon,
To be honest, your new plan cannot save us, LUNA and UST.
Now, enemy is using FX strategy to beat you. “Computer” method to respond is useless as like, as if in WWII, US and Britian not strike back and just use their land to compensate the allience. Failure is the result.
For the time being, pls find your team and white knight to consider the following ideas.
- Cannot save LUNA and UST at the same time…need one by one save.
- Stop create new LUNA to limit the total number of coin (same as BTC effect)
2.) Use all your money, coin (existing or from white knight) to buy LUNA to $50
3.) at the same time of 2), announce burn 1% of LUNA daily til to $50
4.) when LUNA turn to $50, use LUNA to buy UST
5.) when 4 start, announce burn 1% of UST daily til to parity.
6.) in future, create new UST , burn same value of LUNA, vice versa
7.) in future, if need to protect price, can restart “burn”
Build the investor confidence is the Key method and unlimited supply will destroy whole !!
Good luck
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When the director neglects his / her duties intentionally or with gross negligence, he / she shall bear the liability to jointly and indemnify the third party for damages
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Agree! Who cares about USDT it is just another stable coin, which is not even stable! Save LUNA and forget about broken stable coin!
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you are the greediest person on earth! you still want to enrich yourself and your friends using the money that people have lost during the few days of turmoil?
how could you think of those options you suggested?! many people bought way more expensive than the last minute price! and they still hold their coins on cex because they couldn’t transfer to mainnet!
people who held their coins before the de-peg and those who hold their coins after the de-peg have the same roles in saving the ecosystem!
your proposal sounds like a well planned cashgrab! you should be ashamed of yourself! many people’s lives are at risk and you’re still thinking of how this bad event can benefit you and your friends! disgusting!
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this is stupid, UST is the backbone of the protocol, why should it get a less than equal share than luna holders. people who held UST did it as it was the safe token and put their savings in it. they didnt speculate on a utility token like LUNA holders. id argue that UST holders deserve an even bigger share than 40%
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This.
UST can still go to 1 USD. LUNA can go up to 0.001 USD (not investment advice). There is no way to recover all losses by something so called “revival plan”. Many people tried to repeg UST by buying UST from exchanges, and exchange transactions are not public as you know.
Our only aim should be to repeg UST to 1, LUNA is going to follow that. No need for this kind of a recovery plan.
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I don’t agree with this proposal. Example some old holders just dumped maybe immediately the attack happened at 60$ in profit to some of the latest buyer’s that held till zero. Now taking a snapshot before the attack will only reward such person double at the expense of the late buyers that were sustaining the liquidity and ended up at almost zero.
The teams can mop up some low price LUNA with say $500M, that could take out some Billions of LUNA, then gradually build back trust and confidence, as well getting sone VC partners could help with funding to peg back UST for a future reward. Community growth, More builders, and funds influx in the future can spike the UST to trigger further LUNA burn.
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current LUNA holders will get dilluted!!! 90% dilluted!!! since your only getting 10% of the current network!! people that bought the dip gets fked here.
All becuse Do Kwon doesnt have more LUNA just UST which he wants to get value for!
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