Except the old guard was responsible for the design that lead to all of this and is the same group voting for themselves. The UST swap functions were designed to inflate the LUNA supply into oblivion if it depegged. This design was created by the same people proposing the fork and the same group who wasted 80k BTC for no result. Why should their coins be any more valuable than coins converted from UST holders. Its Governance not a Governance attack… If they can determine that specific wallets were used to “attack the network”, block them. But lets not pretend that these “old guard” aren’t significantly self interested in forcing through a false vote that excludes all the OLD UST converted to new luna holders. This was the design, calling it an attack mis-represents that it functioned EXACTLY as designed by the “old guard” you reference…
Many old UST holders converted to LUNA so as designrd and fairly deaerve their vote
Especially if this coin is LUNC as they define it, let it vote.
I also have no idea why they are voting, just fork the chain if they just want to. They are doing this to give avlidity to thia and or take funds. Its more than “just we are going to fork and fix” otherwise, why even vote? Just do it? They don’t need a vote to fork.
Absolutely correct on all points. No emotion here either, just a fact. I’d add that having Binance assist by potentially buying & burning would also help restore trust & credibility in this project going forward. The post-attack tweets by Do are incriminating in light of what has transpired with the continued trading, the dilution & now the fork.
The lunatics community is helpless watching LUNA di.e.
it is the last straw to disappear in the face of chaos. this team should step aside if they still have morale. by all means we ask you to support us with the LUNA circulating that overflowed the UST. There are only a couple of validators aware of this. the vast majority never cared about being a family.
Spot on - someone should be swooping in and buying off the community in a take over - it’s a community that has just been shafted twice by leadership in the event, and now the shit for brains solution. When so many others like yours just screamed logic - but required time.
He’s on a mission to protect his own wealth and his mates. He won’t get away with it. But a community / it’s people / that is INVALUABLE and DoK the idiot has stomped all over them. The pain is raw, but it will NEVER be forgotten what he has now done to us - stabbed us all over.
I am 100000000%% in accord with what you have said. Do Kwon should be banned from the community and removed. Remember when Steve Jobs was acting in a manner that could have killed Apple? He was removed from Apple and it allowed Apple to rebuild and now it is one of the strongest brands in the world.
Guys this is the Luna Foundation guard Bitcoin Wallet: 163mp4eKBixViv7VPwG3aKvcNDkh3UmsSP why is it empty??? And why is it that there are transactions ongoing on wallets it sent money to??? and as late as today???
If there was no Conspiracy to Commit Fraud, why is the money moving?
I think siphoning $125 Million USDC a day should have been our first clue…
There was no intention of saving Luna. The intention was to implode it! It is clear from the money movement.
Plus if you look at their Ethereum Wallet (0xad41bd1cf3fd753017ef5c0da8df31a3074ea1ea), you will see a clear trend of intention to move the money. Do Kwon is a Billionaire and he found a cash cow in the Luna Community and he milked it until the Cow died!!! Plain and simple.
I say let them leave and fork. Let’s get Do Kwon and LFG out of the Terra ecosystem. And then we can attempt to fix UST and LUNA. LUNA 2.0 will fail because no one is going to trust that con artist Do Kwon ever again. Do Kwon’s proposal is not the end all be all and should not be seen as a final statement as what is to happen with LUNA and UST. As a community we can take back the Classic Luna chain and make things right with those that were harmed, something Do Kwon seems not interested in doing. Let the traitor validators leave. Let Do Kwon leave. Let the ones responsible for this leave and try their hand at a Luna 2.0. Obviously their leadership is worth squat and their blatant attempts to disallow community involvement by blocking staking is one for the history books. Do Kwon has turned into a dictator. One we should not follow.
The whole of the Crypto community should be angry about what is happening with LUNA. The validators of the Terra ecosystem are creating a new chain to take all assets from the fountain of the old chain. The new coin does nothing that the old coin can’t do …it is just a mechanism to take wealth from the LFG. There is no way to currently stake LUNA so all voting on the proposal is done by people who will profit by stealing funds from the old token. If people cannot trust the code, no crypto code is legitimate.
No cryptocurrency is immune from the implications. If we can’t trust crypto currencies to follow thier codes. Then we are just trusting dictators to do what is in the best interests of the currencies. If this LUNA proposal goes through, there is no defi.
This is disappointing. The LFG was supposed to be designed to help maintain the peg. It looks like Mr Kwon dies not care about salvaging Luna v1.0.
#2 Dissolution of Terraform Labs:
Dissolved the company just days before the crash? What is really going on Mr Kwon? Or is it just a coincidence the crash happened days afterwards…
#3. Do Kwon suggest Terra/Luna v2.0 within days after the crash:
Mr. Kwon then proposes a new plan that the community is mostly against but still puts it on Vote. Then, while it is being voted on, makes amendments to the plan. That is not only unethical, possibly it would be against the conpany’s voting policies S well?
#4. He refuses to listen to his peers who have made strong suggestions, proposals and offered to help solve this crisis.
The internet is flooded with stories including Mr Kwon’s involvement with previously failed Basis Cash stablecoin.
How is the community to believe that Mr. Kwon is istening to them and is even actually interested in making things right/better? Hevis going i tje complete opposite direction.
But there is still this hope (misplaced perhaps?) … everyone is hoping Mr Kwon will still do the right thing by listening to what the community is asking for.
Seriously, what new investors are going to trust LUNA 2 (or whatever its called) if you don’t at least try to sort out LUNA 1 and UST? Come clean on the mistakes, plug the spiral death hack then build confidence out of the ashes by burning surplus tokens and putting in whatever spare support capital you still have. Misleading hodlers who held on and cutting lose those who took Do’s advice by genuinely trying to buy more to hold up the cause during the decline deserve better.
I think what ever they call it a Fork or a Genesis it’s not gonna work. Investors has lost confidence in current working group of LFG, so they need to hire some one who has lots of experience & name in this revolutionary technology. New ideas should be implemented within the current blockchain with some modifications & new lending & borrowing protocol where in ppl can earn APR & there should be some kind of insurance to secure these investments.