Terra Ecosystem Revival Plan

Dear kwon
Forking is not a good idea for now.
the concept of backing up UST through LUNA is failed , LUNA is only paying for failure of UST, so u must separate both coins, kindly stop minting LUNA and start burn to regain the value and limit the max circulation supply.
For UST you must think for real assets as collateral because your existing algorithm will only work if market favour both coins which is not possible for every-time. Even if you try to circulate BTC to revive UST more chance you will hurt BTC value .
We all LUNAtics still believe that LUNA has lots of potential to get back its value if you manage it properly and sacrifice for UST, give a chance to survive LUNA first otherwise no one will trust on any fork or any new concept.

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In the end, there are 2 types of people: people who trust this project (current holders) and people who lost their trust (sold). I would start with the current holders and not fuck it up again.

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Thats so short sighted dude. The most important investors, for the ecosystem, are new investors that haven’t even bought yet

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Also, I think why do people who lost at $1 or higher they do not buy back in pennies? Because they do not believe that LUNA will back, why should we treat them fairly? They have more opportunities to get money back because we all have seen when drops below $1, people can x10 or even x100?
IMO, UST is real USD (maybe) so you and the team should refund at least before de-peg. Luna keeps it growing for people trust in it

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It’s not a fair proposal…
Those whose interest you are trying to protect, dumped massively
Others came in to mop the 6tr tokens you have circulating now.
The second category must be sacrificed to please the first category, according to you proposal.
YOU ARE NOT A GOOD MANAGER…

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Yes but everything is about trust. Sure, new investors are equally trusting the project. Buy now and put your money where your mouth is.

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This is bullshit. “I can’t deal with this and so I’m going to run away and make a new one.” Is that your solution? What you don’t understand is my friend: People died, period. Because of your stupid decision. First of all, you need to understand this: You cannot recover UST by pressing LUNA. UST is about money, LUNA is about community. And without LUNA, UST is useless and we already seen that. First you need to detect damage control on UST over the network. You can determine who owns how much UST and how much loss they have suffered, when. Then you have to break the connection between UST and LUNA. Otherwise LUNA for UST will go to hell. UST losses should be recovered by providing liquidity from outside. LUNA must be brought back. 6.500bn LUNA? Are you out of fucking your mind? If you don’t want to be called one of the biggest swindlers in history and you want to save your honor, get this straight.

People have died and they will never come back.

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What about maxing out how much UST can be transacted from a single wallet within 24h?

I am not convinced that he’s not part of the whole scam scheme…

Don’t have a real strategy to offer, just some opinions and thoughts to consider

I’ve mentioned this elsewhere, but I believe priority should be on remuneration for UST users. Would be a powerful market statement if we were able to make them as close to whole as possible

We ALL accepted that LUNA was the volatile asset that could go up 100000% and down 99.999% to bring and keep UST at peg…many non crypto natives were in UST tho. I personally onboarded so many people that would never have thought twice about crypto…my heart breaks for them and it is weighing heavy on me right now. Stated elsewhere that I can take the massive loss on LUNA…I cannot bear the UST loss

Regarding allocation to OG’s and whales…perhaps we could use a sliding scale that takes into account whether their activity on terra was predatory or mercenary (or whatever)

I was just a baby whale but every move I made had the health of the ecosystem in mind. Even when formulating my strategies…it would have been financially advantageous for me to borrow ust with liquid Luna collateral on mars rather than with bLUNA on anchor….I wanted anchor to receive the yield from my collateral tho. Overwhelming majority of farmed and airdropped eco tokens went into LP’s or staked in governance. Diligently voted on chain. Kept my savings in whitewhale and kujira rather than anchor. Provided liquidity with UST on other chains etc. If there was a way to weight allocation towards the consumers…the loyal community that didn’t build but still bled and sweat TerraMoney…there’s your ideologically driven core community of users.

I suppose legit whales, even mercenary ones, are needed tho, so idk. Would make sense to cap allocation past a certain amount of value imo…but whales play a vital role. Idk

Last opinion is really just to remind the community…and you multichainers know this is true….Terra is hands down the best L1 experience. Everything was smooth and intuitive. The innovation, the unique ideas and primitives, the great minds of the builders, developers, game theorists….it would be one of the greatest regrets of my life if we let them kill us.

I still believe we were close to becoming untouchable, true bend but don’t break, and I think we would have taken this entire space to the next level had we not been assassinated. Everything that was on the verge of coming it to play…it’s all just so terribly tragic

I remain hopeful that this is our dao hack moment. A great reset that leads to the next big thing. We now have a chance to apply the lessons learned and come back stronger than ever. I still believe in this community and network.

Do or die time now tho…I chose do…big brains I’ll leave it up to you to execute. No pressure :slight_smile:

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Then

it takes decades to recover to its old supply., It transaction fee used to burn token

  1. You need to apply the reverse process of Black Wednesday.
  2. You need to fix the exploit in Terra Luna.
  3. You must save the community.

raise it a little then and whats wrong with decades, find the real hodlers, everyone else just looking for a quick buck

If I used aUST as collateral for short farming on Mirror. Will I get new coins?

no ones getting anything of value unless they restore peg

if new tokens are only issued to those before the halt … why the hell are exchanges still trading luna? aren’t it a freaking fraud ? People that are still buying into that will become worthless soon enough

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I have a significant percentage of Curve Pool Tokens for a UST/otherTokens pool. How would that be managed? Most of the liquidity I could redeem now would mean a payout in UST, which I held through the crash. Will I be able to redeem or trade those UST tokens? Or are you saying those tokens will be tossed aside and “new” UST issued?

Recommendation would be to focus on collateralizing UST or USTv2, and offering people a portal to redeem UST for 1 USD or to migrate to USTv2, restoring the peg as everything is now based on a collateralized asset. You can’t just chuck aside the UST that people are holding and believing in - that UST needs to be redeemable somewhere.

With this new fork what will be use case for the current Luna trading on Binance? I hold all in Binance.

Real holders are the ones who hold now. If you’ve bought 100 and sold 40 you are a real holder of 60. Buyers are equally important.

Your team made the mistake and should be able bold enough to admit it.
Was it a wrong move for those who still believed that LUNA still have potential, coming in to invest after the crash…
If you truly look forward to sustaining this ecosystem, then whatever solution being offered should be fair to all…