My insights as a Professor of IT, Accounting, Finance, Law & Management and have also worked in the IT & Finance industry, including my own IT businesses. I have worked in top universities in USA, Canada, & Asia.
I was also in the USA, Canada, when Lehman Brothers, AIG, and others collapsed in 2008. At that time Bank of America stock fell to $1. The housing mortgage collapsed didnt stop the banks from functioning and seeing back today banks are the most profitable businesses and have their infrastructure intact and have also grown. Banks didnt shut their infrastructure.
Compare this with Terra Luna/UST infrastucture today, the infrastructure of Luna is solid and robust, there have been no hacks, and even in this difficult time the system was functioning. This morning on Binance the trading has resumed in Luna/UST. This infrastructure got to be kept at all cost. Abandoning or adding or replacing with another version would be disastrous, as investors would loose confidence & trust, in the leadership of Terra, no matter whatever they (terra leadership) do investors do not forget and forgive. Its best to stick with the terra ecosystem that is already in place. If they start something new, or something different, and that mess up further, investors will loose all confidence, as there is a saying, once a thief always a thief.
The most important is to start the luna/ust engine, so that the investors can have some relief. Even if the price of luna & ust trade in cents, so be it. Let the markets takecare of it.
Therefore to keeping the infrastructure is the step forward. No matter whatever the cost, let the markets correct itself, investors who have left will return, as their perceptions would change, and perceptions do change, you just have to see the stocks, when investors dump and later they buy again.
Research suggests at difficult times investors make decisions with emotional feelings, to withdraw funds, based on fear. Even if Luna/UST trades for in low cents, let that be, but i can tell you in my 50 years experience, that will not be the case, as we have already touched the lowest point, after that the trend is upwards. It just a matter of time, can be be next week, next month, or next year, prices will rise. In cryptos it is not unusual to have wide swings. Not to forget UST is the popular stable coin along with usdt, usdc.
If we move the fear and emotions aside, and logically evaluate the situation, its not that bad (compare it to a situation where billions of dollars of luna/ust were stolen by hackers, that is not the situation here). In the history of financial investment stocks go to bottom low and then back to the top, that is the nature of investment.
I can feel the pain that every investor is going through at this time. Everyone young, middle age, and older people who had invested their savings. People invested for old age retirement, others for paying hospital bills, others for childrens school/ university education, buying for a house, many other purposes. Myself lost all my savings $600,000 in my old age and many others i have read their sad stories.
This section is for especially the leadership of luna to read (including Do Kwon), and they have to think very carefully about what has happened, how did it happen, and to learn from this. Be honest and truthful. You just cant take peoples money in any country and walk off, thinking nothing happened. Lifes have been destroyed, suicides, peoples savings & investments destroyed, people lost homes, and so many other things destroyed, their dreams destroyed. The leadership also have to be careful, if they abandoned the terra luna/ust and start something new, it will open up litigations and they can then be held liable for financial criminal activities & fraud. And if they think, they live in South Korea, or Singapore, or any other country, think twice, the legal enforcement hand is now global, and people can be extradiated to face punishment (see google Nick Leeson, Barring bank fraud). Interpol can issue an international arrest warrant. I have heard this is a strong case and now being considered in USA. History tells us all how criminals spend their life time in jails. See google Bernard Lawrence Madoff.
There is no place to hide. Even if you are holed up in a home, thinking no one can find you, they will track you down to face justice. In all this loved family members, relatives are also included. Its not worth the life. In Buddhism the Karma says that people who destroyed others, have to suffer and see and feel the pain themselves, imagine living a life with cancer, for yourself or loved ones. The power of blessing is very strong, but the power of curse, is even stronger. People whose lives destroyed and their curses. How can one live with that.
I wish all good health in this difficult time.