stupid idea NO
3 Likes
I just wanna say, bravo. Biglaw hours are valuable (costly). That you took your time this weekend to aid the Terra community so freely should be celebrated.
Terra/Do Kwon, get moving on this. The ecosystem loses any chance at continued value with every second a go forward isnât out there.
4 Likes
@wlawyer - I just wanted to say thank you for contributing so much of your time and expertise to the community in the wake of this disaster.
The broad strokes of this plan seem promising to me, and I hope we can come together on an agreement soon.
1 Like
Binance will get LUNA v2 and will distribute it to you.
I wouldnât be so sure that Binance will list this Luna2. The proposed Luna2 is a scam and hurts all users on Binance.
4 Likes
Binance wouldnât even list this v2 fork
4 Likes
its amazing how you and others completely discount Luna holders. Whats fair is everyone is compensated if a plan is put in order. I hold luna and dont think it would be fair for ust holders to be left out in the cold. This community consists of LUNA and UST holders!! not the latter or former!! be fair here, we all should see something or you sacrifice half the ecosystem and you potentially are left with nothing. Trust, community and relationships are what work!
5 Likes
Itâs good idea but we have two problems.
-
UST holders must be happy at the end od this story. If you want this project to stay alive after any change we make, they need to get full refund for every penny they invested. That is the only way how UST is going to stay what it was and what it shoul be - replacement for 1$.
-
Post attack Luna buyers are not the same. Some bought for 50$ and others for 0.0000X$. Those who bought for 50$ are closer to buyers who bought before attack. This is the reason why we canât make difference between pre and post atack Luna buyers. Luna is meant to be colateral for UST and that is it. No price guarantied.
So, my proposal is very simple. Just garantee UST holders one dollar price, and system is going to reverse itself. If it is necessary implement deflation on Luna and all is going to fix by itself.
IMOPRTANT is to understand that we are not fixing system to get our money back, but to keep it functional and usable. The only reason why it was in TOP 10 cryptocurrencies is because people believed in it and used it a lot. That must be our final goal. At the end, that is the reason why all of us have bought it at all.
1 Like
I can get behind this. Not everyone is going to win 100%, but we can all be happy given enough time to get things sorted.
1 Like
A burn is the only way.
3 Likes
Something I have learned as a professional is communication and presentation matters to get people to understand your message/idea.
Again, missing the point. If you are a holder that throughout the crash didnt sell and even continued using the dapps, for example imagine you lost 100k in the crash. Do you think I have any spare cash to gamble at current prices? I cant believe many of you cant get this. Old holders didnt get a choice on the hyperinflation and now new holders are glorifying this nonsense prices.
1 Like
Am against a Terra 2.0. I think it will drive any new investors/users/speculators away and lose a lot of long term supporters. Work of fixing what we got.
Much prefer this proposal: Proposed Recovery Plan (Proposal)
The following is copy of my reply on other proposals.
Terra has the chance to get through this probably rather quicker than it first seems (though ATHs probably months to years out). There are now tens of thousands of new LUNA holders. People bringing volume and use to Terra chain, especially with some new tax or other tx burn mechanism ideas people have come up withâŚ
If it gets out that Terra chain plans to fix and continue onward and not fork and LUNA becomes deflationary, even if slowly deflationary, Terra and LUNA will probably go huge. Maybe even mainstream.
Bringing trust and value to the current chain and burning will reward validators. Believe me validators ARE getting crazy staking returns in LUNA right now, bring it value.
All the low price buys around the world are also propping up the price and even helpi g UST by buying LUNA. Have you seen the trading volume? Amazing. And all the free advertising. Save the current chain, bring value to current LUNA, setup a fund of some sort to cover UST holders over time. World community would love LUNA. Crypto community would too and assist.
Do it this way easier to bring in all these new LUNA holders to developersâ applications. There are a TON more wallet holders with no idea yet how useful LUNA is on chain, a campaign getting people in will bring value and trade volume to Terra dApps. And long term stakers and users, many already are familiar with the ecosystem and how to utilize it, thereâs A LOT one can do with large amounts of LUNA on Terra dApps if LUNA goes deflationary those familiar have a huge leg up since their learning curve is far less than new comers.
Ditching this opportunity by forking and airdrops etc gotta be kidding me. Just scared. Terra chain has a ton of value and a lot more to offer. As another said in another post welcome to further decetralization. This meltdown inflation might just be a blessing with so many new luna holders.
2 Likes
Another way to think of it, and not a joke and I think itâs great: LUNA seems like Doge now, but, AND THIS IS HUGE, it has a use and a whole market place already built and working that is expanding.
Donât waste this. As a LUNA staker/investor who went down with the ship I say letâs carry on and work to fix Terra 1. Maybe tweak UST or ditch it or a backed stable.
1 Like
This is something I agree on. luna is like doge/shiba and anyone investing took the risks knownly or not in it as an asset.
Sounds like you want to look after your own interests - Iâll keep re-reading just in case you mention those that held Staked Luna.
2 Likes
There will be no agreement here. The community has agreed to the proposals that caused the grounding of Luna. So now we have to live with the consequences, as hard as they are. With the acceptance of the Proposal (1164) we were warned that the whole Terra Ecosystem could be destroyed. This means that we must continue to adhere to the plan and implement exactly what was voted for. If this is not done, there will be no more trust in Luna, no matter how good the new product or the developers are or will be. Mistakes are human and mistakes happen everywhere, but just backing out now, hitting the reset button and just initiating a new plan is definitely not on.
Make Luna great again!
2 Likes
Everyone is looking out for themselves here before looking to help the big picture. If they werenât, they would be financially irresponsible or just reckless. We all want a solution that we can agree to, but I agree with wlawyer that every group will be out for themselves regardless.
1 Like
they, the old leaders gradually to the disaster of Luna are looking for a fork to regain ownership after running away and fooling all the investors and former holders. They continued to trick new holders into trying DCA to save Luna. Get rid of the fork option immediately with all your might, and boycott Luna v2 if it ever comes out because theyâll be printing Luna 2 and taking advantage of the community again.
The most important question right now: Where are the Bitcoins and Lunaâs reserves and the Luna leaders are responsible for the destruction of the reserve and decided to print Luna on these investorsâŚ
2 Likes
Isnât that better than none? And the new coin will increase in value which may eventually exceed your initial investment.
1 Like