So the people that tried to defend the peg are less important than the ones that fled? Good to know
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No. This plan is not fair. Some people put all their networth in ust, and other whales put a small amout of their wealth in UST. Some people spread their UST accross account. So no, i cannot back this bail out plan for UST. If there are funds left in LFG, they should be used to bacl up UST2 and, ust holders can convert to ust2
that plan refers to small holders only + theyâll get new money from launch of terra 2.0
nice joke fktard
only burn is acceptable, burn + buyback will do everything needed. Sad you sold your UST, wlawyer, youâll not get new ones.
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good proposal BUT once this is implemented 80-90% will get out of the ecosystem once they receive their money back.
if you they could implement a lock-in period so that the community wont rug-pull their UST or LUNA then it might work, otherwise it will be every man/woman for themselves
Are we going to ignore CZ comments like we ignored people who warned us in the past ?
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@cz_binance: Personal opinion. NFA.
This wonât work.
- forking does not give the new fork any value. Thatâs wishful thinking.
- one cannot void all transactions after an old snapshot, both on-chain and off-chain (exchanges).
Where is all the BTC that was supposed to be used as reserves? https://twitter.com/CryptoLionel/status/1524971597110681612
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Fork = death of the project. There are better solutions out there involving burning luna.
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They will just leave at the time lock expiration⊠same thing will happen just at a later date
A really balanced compromise! Thank you so much for your effort @wassielawyer. I am in!
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So as someone who invested and bought 300k LUNA after depegging, what would that mean for my tokens? i would get a 10% refund on my investment correct?
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V2 = Scam . If you try to fork , you are a scamer , dumb af
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Personal opinion: CZ does not know what is talking about. The most famous fork is the Etherium - Etherium Classic fork. They BOTH have value. HOW? because the value is given by the community. STOP listening to CZ for Gods sake! He doesnt have any stake in this!
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No, 10% of the new Luna supply.
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I implore u to do a little more research on the context of that fork. A fork with terra in this situation, would be disastrous and lose all trust from ct community. Youâd have people coming at yall with pitchforks and your do Kwon would be in jail
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Fork is a no-go. Anything related to forking and creating a new token is just going to kill Terra. I donât know how you guys canât see that allowing those who sold letting the price drop not only not suffer losses but also buying at a discount makes sense. There will never exist a fix to this mess that involves snapshots and any form of forced compensation via airdrop. The circumstances of every seller were different and someone selling at 60 still lost all their money. Just please, do a bit more critical thinking before suggesting a fork anr/or targetted compensation. It would be the demise of the entire ecosystem.
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The new chain will be isolated at first ( it will not be listed on CEXs) so no rug pul could happen
demise of the entire ecosystem is not doing anything or doing something that will take a lot of time.
Thanks for the proposal.
The only issue with using past snapshot is, it does not consider that some holders have already cashed out and will receive more than their initial investment.
As someone who has held on to their initial ust, and has ust on other chains and cex pre-depeg, and even bought more at high 0.9, 0.8 post depeg (stupidly) this proposal is unfair to all the investors who has held and added on.
Should I sell all my UST now, and add to the selling pressure on ust since I can recover my initial pre-depeg ust from this proposal and the sales proceeds? This proposal creates wrong incentives and disregards fair market.
If you are a lawyer, you should know in liquidation/restructuring, it is the end investors and depositors who have claims over the liquidation proceeds. Investors who cash out have no more legal rights.
For ust holders, the tier repayment should apply but based on a future snapshot that is known. This will allow all investors to move their ust on other chains and cex to anchor or terra to show their proof of ownership.
If an investor remove his funds post the snapshot, he is only entitled to the same % * his remainder holdings. So if he has $200, and is entitled to $100 at 50% payout. By moving $50 out, he is now only entitled to $75. The excess $25 freed up goes to an excess pool that is finally used to pay cex holders on pro-rata basis.
Only whales or people who desperately needs $ will move their funds out after snapshot and pre payout. The ust is the secondary market will also reach a fair pricing level, potentially higher than the current price as investors buy back ust (that they have sold) to participate in snapshot.
P.s I hold Luna too but I do not expect any recoveries with that as it is a speculative and meant to take the fall if ust depegs.
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Then we need to do something that wonât take a lot of time and wonât involve any kind of snapshot targetted compensation. Therefore a fork is not it.
Your fooling yourself if you think this will be a fast recovery.
The only thing that will be fast about a fork is how fast it goes to zero.
The ETH ETC fork was not an attempt to recover from a catastrophic collapse with some fantasy about replacing loses.
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The lawsuits will be very quick too