This a bold statement here about what has been done by Do Kwon, the Terra team, and the people who purposefully facilitated the depegging and subsequent ponzi scheme which saw the complete collapse of Luna.
Do Kwon presented Luna as a Stable coin on his own Twitter, yet in less than a week, the value for investors has completely evaporated.
The fork will not work. Most people who lost money would rather see Do Kwon and pals in jail than invest in another disaster with the team unfortunately. I would simply like to see them do the right thing, and if the plan is not to compensate all Luna holders, including the ones buying now, you should halt trading immediately, because what you’re doing is immoral and constitutes as theft.
I hope you heed CZs advice and buy and burn to try to save this project, but it appears you plan to act in your own interest with this fork which will ensure your project dies again as people pull out a second time for good.
Best of luck to you and the Luna holders you took everything from this week.
You shouldn’t be recommending anything. You have no clue what you are talking about. I lost my money too but buy and burn for dip buyers is not a solution. Stop promoting hate for your selfish goals. You can’t buy and burn inflated token of 6.5 Trillion in CIRCULATION. Stop promoting CZ tweets and turning this project into MEME coin . This is not safemoon
I am calling it like the vast majority of people see it and how it is being portrayed to the public. The only people who want a fork and a snapshot are the ones who rode this to the top (or bought the top) before it died.
Please read response on CZ’s tweet. Hyperinflated tokens (6.5 T) can’t be bought through buy and burn. Revival plan recommends token supply of 1 BN and use it Layer1 Blockchain taking advantage of existing ecosystem ( builders). I am also dissappointed with opening the blockchain for trading. That should have been stopped when the network was halted. Now people are going to get rekkt if they don’t get their share in the 1BN token ( new fork). But there is no way we could buy supply and burn. These are already in circulation. Every dip buyers have millions and billions of LUNA token , how can it be part of 1 BN tokenomics ( its just insane) . This whole thing is managed very irresponsible by terralabs. I agree But lets move forward and not kill the project.
At the bottom of .00000082, the whole supply was worth under 5 million. Quick action could have been taken. As someone who bought the dip and lost big on the way down, I’m hopeful the team does the right thing on this for me and others. I bought at 50 after the de-peg and am way down. What happens to people like me?
Well, maybe not)
Some people make millions on this.
Maybe they are?)
Trading between exchanges is in full swing for three days with a profit of 50 - 100%
This loophole is closed to ordinary users.
To redeem for a pittance the excess emission is quite a normal strategy.
Those who have coins left only win, and the binding is returned.
And whoever bought very expensive is their problem, as always happens in the crypto market.
Trust came from the constant publicity, the celebrity endorsements, do kwons own reference to this as a stablecoin, and a wide range of other positive press. I expect fluctuations, not a total rugging. I also expected the team to fix this flaw once UST repegged. I never expected anyone to consider abandoning the project. The team has our money.
There is always a price for which someone will sell their tokens.
The exchange robot can be engaged in redemption, maintaining low volatility.
But that would take a very long time.
But lets move forward and not kill the project.
Peace