Me too. I just sold some eth 3 days before problems started in to ust. First time I used it and so pissed at myself for not using busd like normal. Just to make extra 20usd per eth.
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I think on the whole this plan looks like the best so far. It does need some tweaking and ironing out of the specifics though.
Something that will need to be considered is the price of the luna tokens purchased when allocating 2.0 tokens.
Holders from before may get 40%, but 40% of 1000 luna is nothing compared to 10% of 10000000 luna, and the latter were bought at a fraction of the cost.
Thereâs needs to be a snapshotted, layered approach here.
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This is what needs to happen. Compensating small UST debt holders will go towards healing the gaping wound in Terraâs image and some of the worst damage done to the community. The LUNA v2 would then have value and should be awarded to pre-depeg LUNA holders.
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I think itâs totally fair that both LUNA and UST holders are treated in the same way. One should not be favoured over the other because the system worked with the assets as a pair. My question though is what is a LUNA holder? I had 1/2 my tokens on Binance, and the other half as stLUNA/LUNA LP on Astroport as well as in my Terra wallet. At the moment 1/2 of my tokens are slow burning on Anchor. Will both token on Terra and tokens on CEX be accounted for? LUNA is LUNA it shouldnât matter where it sits because it still is a demonstration of support of the asset wherever you are holding it. If this is further clarified I think this proposal can fly
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Same.
People at the top are wishing a FORK, only means that the business model was wrong to start with. The whole reason more coins are available is because that was the business model that everyone bought into when they got into LUNA/UST.
Now that it has gone wrong⌠everyone is crying? wtf that was the
business model, now deal with it âleadershipâ, what was the strategy for a depegging or a bank run, this must have been discussed - oh wait it was - it was to print more LUNA, so we are here today.
Now devise a burn and buy back process or say goodbye to everything, the fact that no communication outside of the âcliqueâ has been given or the fact that proposals apart from the âleadershipâ, have been discussed says everything about the leadership here. Farce!!! Decentralised my arse!!!
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This sounds great.
Combining the most moral proposal with the most realistic, keeping the best of both.
I had mentally written off Luna already, but this actually gives me hope!
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I like this proposal. One thing I would suggest:
Snapshot of UST balances made at depeg event⌠if a holder of UST ended up selling for a loss below peg out of fear, this plan should pay them the difference. For example, you sold at 75 cents after the first swing to 60 cents because you were scared shitless⌠this plan should pay you the 25 cents on the dollar that you lost.
Wassieâwhat are you thoughts on that? I would also suggest higher than $50k per wallet. Maybe $75-100k if possible.
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How do you track losses on a cex ?
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A buy back and burn is not going to fix Terra at all. Who is going to prevent the attackers, who made a lot of money, to buy billions of Luna right now? Nobody.
All future governance votes will be doomed. It likely takes them one governance vote to kill the whole ecosystem for good.
The way forward is to fork the chain based on a snapshot prior to depegging. With a improved and tested collateralized new stablecoin. Terra 2.0 without TFL owned by the community/developers.
The only way I think Terra 1.0 can stay alive is to become a L1. Ditch the UST/LUNA model and integrate another stablecoin. Use Luna to pay for fees just like Ethereum.
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Great proposal. I agree.
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itâs obviously a centralised system - meaning they can code the solution as they wish - no fork necessary just amend the code with communication prior to what is going on - ah wait they donât communicate
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I do think this is good idea.
First, reimburse UST Holder
- Not waste the thing LFG have left. We donât know which whale are ready to dump LUNA/UST back on LFG and we lost it all.
- Put person who do not want another investment (They will dump every on the 1st day)
- Repair reputation and be ready to move on.
- Clear out the debt of the old chain and ready for new angle investor.
As now LUNA and UST are disconnected.
Previously, LUNA price goes up because it got burn to mint UST. The team need to coming up with a great idea. With a solid community and dev team I think we can go through this.
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Yeah I agree with you. I think the $50k per wallet suggestion should be increased if possibleâ$75-100k seems more fair to me.
Doesnât matter. If you sold it, you forfeited the right to ownership.
Lol, if this is implemented it will lead to a crash worse then what happened
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Great and agree, please start it
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lmao so with you
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agree with this
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