That Right
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The chain stopped twice in total. The difference between the two times is ten thousand times, so is it two times before or the first time?
The problem with UST explained in one post.
The answer when something goes wrong in one post
That was back then when it had a chance to repeg. There’s no chance now, it’s impossible. If it even got to peg at this moment, people will just dump because of the negative publicity and it would break immediately.
The fact it happened before or is happening again to USDD does not mean it makes mathematical sense.
Value in the dollars poured into the system was diluted and maybe siphoned off somewhere else.
What about the people that held aUST and UST before the peg and sold during the depeg thinking they were going to lose their savings, like me, I had to sell at 0.06 UST or else i would’ve been left with nothing…
You’re saying I would have to buy back at 0.06 the same amount iI sold and hold it, in order to be compensated?
What if I can’t buy back at that value and the peg continues to rise?
Couldn’t I get my original investment, paying the same price I was given, for my de-pegged UST?
For example, I lost 6.6k UST for 500 BUSD…
I have every proof, transfer, sell order.
How would this be dealt with?
I almost already fully gave up on the money.
please someone answer me
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when will tera’s new series come out. I lost my account when I bought luna. My friend committed suicide and is in the hospital. When will the compensation plan start, we trade luna on binance and have not sold a single coin yet.
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You can use on-chain/exchange trade history to distribute tokens to buyers as well as the sellers in the midst of that hard time, at every price point accurately.
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Before depegging luna holders name one coin luna 1and process trade ,
before halt luna holders process trade name as luna 2,
those after halt let be luna l3,which is alive now in binance
so you need to create L1 and L2 new trade,so everyone will be ok, all will be happy …
Yes. I would like the distribution to only reward those UST and LUNA holders for the amount that hasn’t been sold at the moment depeg started to chain halted, make it 1:1 refund so we do not reward those who dumped the token and those who brought billions of token to sell off in the market. And reward those who were being used as exit liquidity as well (depeg defenders). These groups are true supporters.
But this we will not be able to differentiate between true defenders and gamblers during depeg. So I think for this group the refund can be made fractional (10% as Do proposed or lower)
Sorry if this doesn’t make everyone happy but I want to honour true members of the community who has understanding/knowledge of Terra’s invention and the whole incident.
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I have to agree with the countless others who posted before me. You created Luna to function this way. The people who bought the dip were only responsding to the failed parameters of the product that you created. They were attempting to save others from losing their life savings and in turn they risked their own capital to sace them and this project. The only way forward is to buy and burn and share equal benefit.
If you want to send a care package to the people whose lives you ruin3d, you should do it on your own dime. You caused this, and you’re not “poor” right?
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40% of network to those who bought LUNA at $116 vs 10% of network to those who can buy it now at $.0.00001? How is that proportionate, sane or in any degree fair? I won’t vote for that.
Also, yeah, I agree that UST holders should be part of compensation plan, but not in the form as suggested. UST is essentially debt, so you should give UST holders debt (bonds), not percentage of the network. Network ownership should only go to LUNA holders/stakers before the blackswan. I know it’s harsh truth that many won’t like, but it’s the truth, you can’t give network ownership to those who staked debt on the platform.
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Are you calling out UST as a fraud to begin with? And then you bought LUNA …
If I hold Luna on binace, how will it be handled?
Rather than allocating the compensation % based on tokens, shouldn’t it be the better allocation method is to weighted it based on how many actual USD being spent?
There are couple of benefits of having USD-spent basis allocation method:
- We can weight it on people who purchased LUNA before the peg (e.g. $100 spent for buying 1 LUNA)
- We can also use the same weighting on people who purchase LUNA during the death spiral (e.g. $100 spent for buying 1 million LUNA)
- All investor would be compensated $100-equivalent each, no discrimination between both types of investor.
P.S.: This can be also applied for people purchasing the USD-equivalent of UST before and after the peg.
Let me know if there are flaws on this approach.
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Good Idea 
I still have UST on KuCoin. If I sell what I have remaining for $0.10, how would this affect what I get after this is implemented?
You need to do a deflationary shock by buying and then burning all the luna minted after the depeg event (about 99.95% of current supply), even CZ knows this and even maybe Do Kwon and LFG but the thing that is keeping it from do this is maybe that they don’t want to use the reserves to do it but its the common sense solution to hold accountable to the project investors and original holders. If the plan is start from zero that investment in bitcoin should be used precisely in this very moment of emegency, the market cap is even lower than that reserve and combined with fomo effect the price can pump considerably.
The snapshot may not work because it’ll be a new blockchain without the added value of the project and it won’t have any incentive to hold those new coins.
Cheers.
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You can withdraw. I withdrew mine
I represent a significant portion of users here and hope to get a concrete and non-ambiguous reply.
Many users hold a lot of UST on anchor protocol through Terra station. Many of us took them out during 10-13 May and park it in an exchange (it’s possible to check the transaction history how much we held after transferring to CEX). So the main question is: will we also be eligible for this proposal? Do we need to transfer back to Terra station wallet? Some CEX has already suspended withdrawal.
It certainly doesn’t make sense to me that transferring the UST to CEX won’t be eligible since many of us are long term holders.
I believe the questions have been asked many times and I hope to get a concrete reply. Thanks!
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