or just press the start button again and sit back with some popcorn and see what happen
2 Likes
The best solution
2 Likes
What exactly are you saying?
2 Likes
I’m so glad I ejected out of UST around .75 cents, you were tweeting damage control to pump exit liquidity on UST. Piss poor communication costed people even more money.
4 Likes
An approach with economicall theory to fix it. A restart wont work. Only way forward is to recover Luna. AND ITS DOABLE
3 Likes
It seems to be reasonble. But according to the current proposed distribution, ust holders gets new tokens when they have usts at the time of the new upgrade.
This is horrible. People will buy ust in CEX below 0
15usdt, and dump what they bought.
2 Likes
What’s to stop this new coin from dumping as soon as it becomes available?
This plan just seems to be based in absolute delusion
2 Likes
Hi. Nice to see that after the worst 2-day - starting some option to recover the ecosystem base on community.
regarding below:
" * 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"
If it would base on amount on luna on wallet - it doesn’t make sense or it won’t be fair, as it will possible rewarding more speculants (the same one that work on system collapse). I would rather go the way - to share that piece of tokens base on $$$ spent on LUNA. E.g. If somebody spent 1000$ for 4000 LUNA , and other one few hours later spent 1000$ for 100.000 LUNA - the both shpould receive the same amount of new tokens.
Hopefully it make sense for you guys and be at least more fair than rewarding final speculants that spent one hundred of dollars for millons of LUNA (this wasn’t guys that try to spend $$ on coin recover; would say that more probably guys that bough LUNA till 0,2$ or 0,1$ or similiar - somehow worked on coin recover )
Thanks and keep safe!
1 Like
Distribute only to active holders. The market is there for everyone. If anyone thinks that it’s unfair because they have bought at 100’s and sold somewhere between, then they can jump in and buy again. You can not reward the ones who helped downfall.
3 Likes
So essentially you just dust your hands and walk away.
I’ll let you all deal with the mess.
1 Like
Should be the 80 dollar and not a total peg as snapshot, the 1 dollar is unfair, the whole market at that point was unstable I mean even usdt at one point lost the peg. Also people who brought after getting 100 million how is it fair that someone who brought millions at 0.0001 can get the same as someone at 30 cents, whist at the same time a lot of luna holders sold and are still rewarded. There should be a drop based on value brought at the time of depeg
4 Likes
This is very bad… only in the anchor protocol more than 2 billion dollars still locked up and you want to distribute 400 million to restore investors’ losses… you made people believe that you would bring the peg back… who invested in anchor and in ust didn’t expect the devaluation of 80%, it was supposed to be safe. luna I understand that it varies this way but ust…
where are the bitcoins you committed to use?
decentralization turned out to be more centralized than the bank
4 Likes
Clearly this is a bad solution. you’re forgetting about the people that bought after the halt. No reason on punishing them when they were the ones supporting the coin after everyone else sold out based on fear.
What’s your plan to address that issue?
6 Likes
To summarize:
WE HATE THIS PLAN.
TRY AGAIN.
8 Likes
exactly, many UST holders just wanted a stablecoin. What is the incentive for UST holders to not immediately dump this new coin as soon as we get it? There’s no trust, why should we trust that this coin will hold any value?
3 Likes
I did the same. Swapped my UST to Luna all the way to $20 when I ran out of UST
Any allocation of new tokens just seems senseless…they’ll be worth 0 minutes after trading commences.
3 Likes
I guess Luna was always a collateral so people knew it could go to zero if UST deppeged. On the other side, UST was supposed to be a stablecoin and have mechanisms to maintain it’s 1:1 peg.
This being said I think it’s urgent to implement measure to reppeg it, and to protect it. What I mean is that after reppeg all holders shouldn’t be allowed to trade or sell it right away to prevent it from crashing again for lack of confidence.
Those o sold at a loss should be refunded in the ratio of their loss but those who decided to day trade on it, and buy the dip should be out of this scenario.
Just my thoughts.
5 Likes
Hi, I’m new here. Please stop for a moment to read my opinion, with all due respect.
I think those in charge of the ecosystem have been carried away by the hostility of the media noise. I am a new Luna buyer from before the block shutdown and after the shutdown. Like me there are many people who invested several times, both before and after. For me all the Luna in my Binance account are the same, and I am sure for any impartial judge as well. The solution cannot discriminate against any holder because there is no such thing as a first class Luna and a second class Luna. There are no victims of an attack before the stop and scavengers after the stop. I do not believe that the Luna Terra UST brand is discredited and unusable, and that there is no choice but to fork out and leave it behind for another name. I see it now as a great cryptographic challenge. The proposal that has been launched is not only unfair and legally unworkable, it would confirm the worst suspicions that this was a ponzi scheme from the beginning, before and after the blockchain shutdown. The only way to ensure that this does not remain so and does not generate a succession of class action lawsuits and an extension of the suffering of one and all is to continue with the current ecosystem. I, who invested before and after the shutdown, want the people who made the biggest losses to get their money back, but it has to be in the ecosystem they bet on; we can’t do an “à la carte” distribution, as if this were a salvationist NGO. We have all bet and taken risks, our Luna are all the same and indistinguishable, they suffer the same ups and downs in value. Those of us who invest assume consequences, just as we assumed profits and were happy when it went up. I do not agree with the attack hypothesis, there are attacks every day and they are seen as flaws in the systems that offer advantages to those who know how to exploit them, but the flaw is inside the system, not outside. There has been a tremendous flaw in the design of the system, I am not saying this to blame anyone, but because it is the reality. But if I continue to trust Luna and UST in spite of the situation, if I am willing to continue, at least until I recover my investment, and beyond, that means that there are thousands who think the same: this crisis is also an opportunity, even if it is a tragedy with immediate effect, because there is no time to adapt the losses for many people. I repeat, I have lost thousands of dollars that I invested before and after the shutdown, and like me there are many people. Let’s think of Luna as a whole among equals, or it will start a legal conflict that will last for years and have a catastrophic effect on the whole crypto world. No crypto operator is interested in an unfair exit, a bad solution, for Luna Terra UST. The idea given by Binance’s CEO, at least, respects all people, without looking or judging intentions, neither before nor after the stop. I’m not saying it should be that, but it’s along the lines of what I think. I believe in this project, saving it would be wonderful and many people share the challenge.
11 Likes
It would make absolutely 0 sense that those buying UST now at 0,1 will get x10 their investment while those who sold and lost -50%+ of their UST get nothing, where’s the compensation,
Those who holded UST & are still holding will get their money back if it pegs, if it doesnt peg they should be 100% compensated based on their loss same way as those who sold
In fact it would make more sense to not even try to repeg from the current order book and just start fresh while compensating the loss of both holders & sellers now instead of rewarding speculators making a free x10
3 Likes