Tranform Terra into 100% Community Led Project

The sentiment is moving towards a redistribution. Some of Luna’s failures include trying to collateralize and defend a stable coin with a highly volatile asset such as BTC instead of more stable assets.

Hence, It is important that Terra move from a centralized Leadership team to a fully Decentralized team full of hundreds of Strong leaders. To me, this is a failure of centralized leadership trying to build decentralized money. We should work to dilute the old ownership and move that to fund a brighter army of strong future Terra Leaders. It is also important that we keep UST as everything in this ecosystem was built on the back of decentralized money. Splitting this vision up would destroy this project’s perfect market fit and competitive advantage it has achieved. Stay together Luna family.

I modified Do Kwon proposal to 30% for the community fund and reduced further the former Luna holders at the time of the Peg. The rational is that we badly need an army of new leaders to emerge to do the research to pick up the pieces and build a stronger decentralized money protocol. A lot of heavy lifting has to be done now to rebuild trust and is the only way forward to recover the value that we all lost and some. Simply this 30% should be rewarded to new leaders that are rebuilding the decentralized money of tomorrow.

Validators should reset the network ownership to 1B tokens, distributed among:

  • 400M (20%) to Luna holders before the depegging event (last $1 tick before the depeg on Binance should be reasonable), bLuna, LunaX and Luna held in contracts should also be recipients, minus the Terraform Labs account at terra1dp0taj85ruc299rkdvzp4z5pfg6z6swaed74e6. The new chain should be community owned. Preserving decent ownership of the network in its strongest believers and builders is important.
  • 400M (40%) to UST holders pro-rata at the time of the new network upgrade. UST holders need to be made whole as much as possible
  • 100M (10%) to Luna holders at the final moment of the chain halt – last minute marginal luna buyers should be compensated for their role in attempting to provide stability for the network
  • 100M (30%) to the Community Pool to fund future development.
  • All Luna besides the third tranche should be staked at the network genesis state.