What if we just left things like this? See what the community does to its future value.
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Really appreciated.
Could you speak on how this might effect liquidity providers on Osmosis and Crescent Network?
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they saved the few dollar they had left in panic instead of losing it all like current holders probably will, they arent the one behind the attack, the ones contributing to all this are first the attackers then the traders, trades should have been stopped straight away so only LFG can buy all the way to 1$ instead of letting whales scalping
Can someone who knows clarify what “at the final moment of the chain halt” means?
Is that the first chain halt to prevent attacks on validators?
Or the second chain half when on-chain swaps were removed essentially killing UST
Or a future chain halt when current LUNA is killed permanently and a new one started?
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Why the different ratio between any buyers/holders before and after the depegging event and the halt? anyone can buy the tokens, high or low. Because some people didn’t average out their cost when it’s low, it shouldn’t mean they deserve to be compensated more than those that did. LUNA needs to be burned.
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The below proposal would be the most impactful first step for the community at large and would help save Terra’s reputation. And it would only cost ~1B-1.5B.
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This plan is total BullShit, you are only rewarding the very people that dumped the token and walked away with cash. The people that have stood by the project and put more in will get screwed. You need to go to jail for the rest of your miserable life
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You got to much ego to think this will save you. Another bad decision. Save Luna burn some supply now. That’s the only answer
Mr. Kwan should NOT be walking away from this fiasco a wealthy man.
He is lucky not to be going to jail for a ponzi scheme…but hey, this is crypto.
If he is sitting on millions, he needs to fork it over to make Lunatics whole. No ifs, ands, or buts.
Hubris got us here. Arrogance too. Humbleness is the only way to see the light now.
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Because LUNA was only a higher market cap because it could rise / fall in price… Its ONLY purpose was to backstop the value of UST… When UST depegged, it got minted out… EXACTLY as it was supposed to… Luna holders really should be SIGNIFICANTLY less… Though maybe they should get some weighted Governance function in the early stages… (Of course, we got here under their watch, so?)
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What will happen to UST holders off-chain on CEXs? Whatever the plan is - it needs to include coordinating with exchanges to get a list of transactions and airdrop some actual STABLE tokens e.g. USDC to aid in recovery.
It should be possible to use the data provided by exchanges to calculate actual USD capital put in and distribute only a recovery of that amount (i.e. no profit is made to those that bought UST at 0.5 - they will just get back their initial investment). I think it’s reasonable to expect not to receive the full amount back, but as much as possible.
These distribution amounts could be done in stages, as the Terra ecosystem gradually revives.
Terra lost 99.9% LUNA holders, and UST lost 90%+. If this money is not recovered, regardless of if they were on or off chain, it’s going to be a hard sell getting them to come back to the Terra ecosystem.
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or in the end. all people who owns luna or ust can come to this big bonfire with free beer and cheer on there loses ( beer is free ofcourse paid by the defs. )
Thank you. I feel very helpless because it seems that the proposal is going to be imposed anyway, I don’t see any way to make those who have to make the decision reason. It has even been reported in the press as if it was going to be done that way.
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I agree, this distribution plan is far from fair.
Just doesn’t make sense. Many who buy on CEX like coinbase even now are not aware of the chain halts. That halt should have nothing to do with who has right with their token or not.
So you guys mean to say that those who are buying actively are not entitled to any allocation while those who are selling and buying actively (pumping and dumping) now who were holding yesterday before halt are entitled to do as they please?
In that case why not tell all exchanges to stop trading that misleading investors?
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Restarting the Terra Blockchain
Not all builders, validators, or users are going to come back.
Not everyone is going to be satisfied with the equity distribution.
After considering the communities comments, a group of builders and validators that want to relaunch the blockchain need to get together.
If there is a half decent relaunching plan that the majority can agree on within that group, they should go for it.
When?
As soon as possible. The more time that goes by, more projects and users will leave the community for good.
Terra’s Identity
I had a 30/30 lunatic score. For what its worth, the reason I first came to Terra was to make money. I stayed because I was making money and enjoyed the like minded community.
I did not care that UST was a decentralized stablecoin.
I am totally fine with using other stablecoins such as USDC.
Terra seems to attract people that are enthusiastic, respectful, compassionate, reasonable, and creative.
More than any of the above, I think Terra attracts ambitious individuals with a high risk tolerance.
Lunatics like to think big and are willing to push the boundaries of what’s possible.
Terra is an L1 for lunatics to gather and build cool shit.
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I mean, I’d go.
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Bad proposal, it drives the price down even further. Proposal: burn billions of tokens, stop minting new ones, and provide an airdrop for people who lost the most amount of money
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