It needs to be clearer, people who bought Luna from 05/06/2022 to 05/12/2022 and who had staking blocked in that period
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Where is opportunities where is the money, it might take times to regain trust and confidence, but it will happen.
What had happened can’t change back, we can only move forward and rebuild it again, fix it and keep going.
Try not to have the same mistake happen again
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, you can get UST+LUNA double high reward savings with an annualized interest rate of 100% 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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Talk to exchanges and Try to add high token burn on every single trade on cex and dex it can help you to get back to 1b supply in few months and also you got your old community
This is what my mind said
I agree.
Let’s the stable coin algo do its work.
Ust will repeg.
Market forces will help.
The Terra foundation should buy and burn LUNA over time in the future to reduce hyper supply.
Slowly and steady will build trust back.
And both Ust and Luna will be saved.
Taking a snapshot and kind of reverting the Blockchain will destroy the community credibility as transactions on Terra Blockchain should final. Always.
4 Likes
I agree. The exchange trade history is the best way. I used Osmosis to convert my ATOM to LUNA both before and after the crash. I definitely like the idea of the Community having the control. I would suggest allowing the COSMOS community as a whole to help the Terra/LUNA community by maybe incentivizing those who use ATOM (via Keplr) or holders of the Osmosis DEX tokens to maybe having lower gas fees compared to say, those who buy thru the Binance Smart Chain or Uniswap type chains.
tôi đã đánh đổi tất cả tài sản vào đồng luna khi thị trường đang xuống. và muốn cứu luna khi đồng tiền tụt dốc không phanh. nhưng họ đã in thêm luna ra thị trường lên con số quá to. hiện tại tôi đã giữ trên 2 triệu đồng luna tôi hi vọng sẽ có một phép màu nào đó.
Curious, I used money I got from a lawsuit to buy in on meta mask a week ago. What will happen? I’ve lost 11 million and I’m just curious what will happen with wormholes? I had to do prison time being innocent for this money and now I’m broke, haha.
What about who buyed at 33$
The most important thing is to pay the compensation for UST holder before depegging event!! They lose they life saving because UST depeg.Most of the, have to sell UST with depeg value because it better than zero.
This is the core of Terra and what your promise but it had been destroyed.
You will regain trust and people will support you again if you pay the compensation to them!!!
1 Like
The original proposal here and most of the replies are brain dead stupid. Makes me question the sanity of the author. There can be no hard fork or V2 Luna. Either the current chain is restored or the project is finished. Forking the chain will result in the new chain having 0 demand and 0 value.
The current chain is behaving exactly as designed. Nothing should be done. No freezes, no compensation, no timestamps. Restore the UST peg to 1 USD as it’s stated in the protocol. That’s all that needs to be done. Those that gambled on LUNA did just that - gambled. It’s an investment. Some can go well, some can go south. We’ve all experienced that. What’s not cool is forsaking the promise that 1UST = 1 USD. That can lead to heavy legal troubles and will result in many lawsuits.
Those that sold UST for anything less than 1 USD only have themselves to blame. It’s a stable coin that should regain its peg. Use the BTC assets and purchase at the current price of $0.1 UST on the open market to regain the peg. This doesn’t have to happen immediately, it can happen over months, years even.
Everything else should continue as normal. If the UST does not regain its peg on the current chain, the project is over. Simple. No fork or anything else will change that fact.
I think the author of this proposal is in fairy land or just being outright disingenuous with this proposal to maintain his own financial interests. If it’s out of charity that he wants to compensate those that gambled on the price of LUNA, then he can do it with his own funds, not with other people’s money that hold UST.
3 Likes
Not before depegging event, but at any time, even until the last block. If UST was no longer supposed to maintain its peg at some given moment, it should have been disabled earlier. The fact it wasn’t disabled means that 1 UST should equal 1 USD, no matter when or for what price it was purchased.
2 Likes
you need to take a ust snapshot
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The most important thing is to pay the compensation for UST holder before depegging event!! They lose they life saving because UST depeg.Most of them have to sell UST with depeg value because it better than zero.
This is the core of Terra and what your promise but it had been destroyed.
You will regain trust and people will support you again if you pay the compensation to them!!!
2 Likes
Are you considering that plain-old market sentiment covers a large part of value changes? Like say today UST is worth a dollar. Tomorrow, if the market loses trust that they can redeem it for a dollar… they’ll only pay 90 cents for it. What changed? Nobody took a dime from every UST holder: and yet now all the UST in circulation has a lower market cap. If people decide LUNA is worth $1 less every day… same thing happens.
There is no math that represents trust, or lack of it. We can just see the changes in what people are willing to pay.
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The best way to reconcile them all is to burn tokens quickly. And restoration of PEG UST. This is the only reasonable solution at the moment.
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REFUND PROPOSAL (Phoenix Plan 2 of 2).pdf (38.8 KB)
RESURRECTION PROPOSAL (Phoenix Plan 1 of 2).pdf (49.0 KB)
Here you go my friend.
I think the redistribution need to be fair and accurate，40%, 40%, 10% looks like a uncalculated idea.
3 Likes
Excellent idea. That will only take about $10 billion in USD, that we don’t have. Start a GoFundMe? OnlyFans?
Show me what you got! 
Why are they fighting this option? I’m so confused. I’m sorry if I’m new, I just got released from 15 years in prison. Once they found out I was innocent they paid me big time. Now I’m broke, but I have faith.