luna still trading on binance at 800 million market cap. there is no need to create a new chain. the chain worked as intended during a bank run, and ppl wouldve kept on buying it and absorbing the bank run. the one difference btw luna and other algorithmic coins that had bank runs and died, is luna never wouldve died, ppl wouldve kept buying it and absorbing the debt over time, no matter how low, b/c of the adoption in crypto.
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Held UST on Anchor (and small amount of Luna).
Managed to move to exchange after this all started but didn’t sell.
What in such case?
kill ust and keep luna blockchain alive only way to go out from this burn lunas
Makes the most sense to him ? Yeah of course, as I said, this proposal is a cash grab from part of the people that hold Luna coins straight into the pockets from himself. No wonder he agrees with this. He should take an example of Vitalik and how Ethereum forked after the DAO hack. They didn’t rollback transactions of people in order to steal from them because this is basically what the current proposal is.
Should also include LUNA on CEX in both 40% and 10% as well as any LUNA queued or in slow burn process
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You really need to halt trading on exchanges, until then no snapshot can be made. UST holders need to be made whole first, UST was not an investment it was a stablecoin. LUNA investors know the risk of crypto but UST should be low to no risk. UST was not minting only LUNA was. All coins in circulation could only be sold under $1 because people decided to sell. UST holders who sold after depeg should not be rewarded with new coins they sold and took their loss. Make UST holders whole, and LUNA holders whatever crumbs are left, welcome to crypto
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Let me guess you held mostly UST. Did UST hold any value without Luna and you want a settlement based on traditional finance methods. hmmmmm. Listen, No.
Total UST supply is 11B now which should share 40% of NEW tokens of the NEW project.
Your 900k is 0,008% of UST supply. 0,003% of the total supply of this new project.
Even with a market cap of 4B (like NEAR coin) which is very unlikely with the current trust level, you will have 120 000 USD.
Indeed. That is how ETH did it. They halted trading before making a snapshot. Making the snapshot 5 days back is reverting all transactions and ruining milions of people’s investments. Prison sentences should be given for rollbacks like that.
Anything bought before 7 - 8th of May you will receive cents on the dollar.
Anything bought after that you will receive fractions of cents on the dollar if that.
It will depend on how much each LUNA is worth on the rebooted network. Like if that rebalanced LUNA is worth a penny per coin, you’d get back around $5. (but nobody can guess that new value: I used a penny as an example)
Any holder has same right. Old ones due to their loyalty new ones for support and trust in the project.
What both deserve is a massive burn of exceeding tokens. IMHO
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I bought 75k luna at 24$ and holded until now with two dollars left… is there any chance that i get something back… it has been a devastating two nights the washed out all the hard work i had done the last three years…
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I still believe this is a total show and we are the spectators, too much is happening behind the scenes.
I see many commenting that they invested everything they had in a high risk investment, I as someone who has lost more than $1M in the past, I learned my lesson and in the hard way: never invest the money you can’t afford to lose and never put 100% of your capital in a single investment, especially if it is high risk, most recommend only 5-10% of the portfolio in crypto.
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I am sorry but we need to admit there is simply no plan could save all!
I have both Luna and UST (25/75) and I would consider Luna as more speculative as price in theory could rise to infinity while for UST, 20%APY is maximum and it’s like the savings in your bank account. The aim of Terra is always to create a decentralized stablecoin and Luna is always acting as peg absorbant and have value created for staking and in case of depeg, help support UST. I am ready to lose all in the moment I invest in Luna (like stock) but never for UST tbh.
In a nutshell, priority is to be given to UST.
For timing, those file a claim need to show how much they lost vs snapshot before depeg, say 10-May, 12:00am. Some may still hold while some may sold already at 0.9 or 0.3 afterwards, we need to ensure only the loss amount would be compensated.
Whilst I lost significant amount, I also agreed we could take a maximum compensation per wallet, say 200K such that more people could be benefit. (Remember only the loss amount is taken into consideration)
If there is reserve left, I would be grateful if could be allocated to Luna holders before depeg as well.
I also hear people saying for those buy Luna/UST after depeg. Honestly no matter what your intention is to defend or speculative or just for fun, you are already entering a highly volatile market and they would be the lowest priority to compensate.
No one wants this but this is reality. I hope we could be more humanity in this event.
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You went “all-in”? No other coins, money on the bank, bitcoin? All eggs in one basket?
Please refund money to luna holders as their Initial buys … I lost 25000$ i bought luna on binanc exchange !
Help the community back now !!! 
Must prioritise UST here. They are the bond-holders (I say this as a substantial LUNA holder).
Validators should reset the network ownership to 1B tokens, distributed among:
- 100M (10%) 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.
- 700M (70%) to UST holders pro-rata at the time of the new network upgrade. UST holders need to be made whole as much as possible
- 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
- 100M (10%) to the Community Pool to fund future development.
- 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.
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There will be no “refund”. The value of your coins was created by the market (supply and demand). Nobody has the money to refund you. They can only substitute you with other tokens that will probably be worthless because there is no demand but a lot of supply.
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