Luna itself is fine, something is UST,UST for new money, changed to full mortgage, UST out of a lock-in compensation program, retain all the existing luna, plus destruction mechanism, so that the market more expanded, slowly digested.
They really should have halted trading on exchanges, you can’t allow trading for days then backdate a snapshot, it ruins all trust going forward too. Unfortuantely them losing you money wasn’t a trust issue but letting people dump their coins and then get them back ruins the uptake of any new token. Why would anyone invest if the team will just rollback anytime they want. They need to halt trading now, and take a snapshot
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The ultimate roadmap to problem solving
Summary
First of all, before solving the problem, we must first find out what the root cause of this crisis is, in order to effectively solve the problem.
- The death spiral is the source of the crisis.
- Market problems need to be solved by the market.
Motivation
- UST is no longer linked to BTC or LUNA. Should be pegged to more stable assets such as other stablecoins or USD, USD treasuries.
- Establish UST flexible savings mechanism. Set a flexible interest rate. When 1UST is less than 1 USD, the annualized interest rate of savings is 20% or higher; when 1UST is equal to 1 USD, the annualized savings rate is the market rate, such as 6%.
- When 1UST=0.1 USD, use the reserve funds to acquire UST in large quantities. No additional USTs will be issued.
- Restore the Terra ecology, gradually destroy the additional luna, and promise to control the total luna circulation at one billion.
Proposal
- Guide over-the-counter funds to purchase UST to return its value.
- Guide the market to build confidence, establish transparent information release, and maintain communication with investors.
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If I was on your place guys I will made a new stablecoin if is possible. Then I let people trade it with UST in 1:1. I mean the people before the attack. I will get this money from selling the reserve of bitcoin. We talking about stablecoin here not Luna, Luna all we know maybe 1 day he falls and we loose are money, also all market goes down. But if you want the trust of the people I believe you must do something like that. I am talking for other people not me, I have sell my UST when the price was 0.95 and I am OK for that. Thanks for listen
I don’t agree with this arbtrary % allocation, UST holders should not get more than $1, why is it listed as a %? UST holders should get $1, no more no less
I don’t think he mean 40% of your ust holdings. its 40% of the new adjusted supply token.
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If they do a rollback we should demand from exchanges like Binance and Coinbase that they will never again list a coin from this Terra team. The whole point of crypto is to not have rollbacks.
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Please
The Terra Ecosystem Revival Plan is more of a bankruptcy liquidation plan than really solving the problem.
Purchasing something is not “defending” anything. You thought you were buying the dip.
Not sure it’s a legitimate account. See the difference. dokwon VS dokw0n
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please do not forget those who endured up to 75% loss with you. We believe in this project. Thks
Dude, intention doesn’t matter. His Luna is similar to yours. So his Luna should be treated the same as yours.
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I agree, the exchanges can’t trust them
So what was the purpose of minting more Luna?
to dump on unsuspecting people
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I guess I could understand that. UST holders accepted their dollar, plus maybe some Anchor interest. None of them went from $1 to $100 like some LUNA holders. They chose less risk for less reward. LUNA holders chose more risk, so…
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Who will pay for this? There is no money now. Only trust in some new LUNA ecosystem.
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absolutely, its why CZ said UST needs to be made whole
You are right.
Luna and UST are an investment for many.
And many of us believed that the repeg would work, and for that reason we invested in LUNA and UST.
No matter how cheap or how expensive we bought we kept believing and investing.
It’s not fair for all of us, that put our hard earned money on the project to be left behind on this pseudo proposal.
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