This is just an idea as the knowledge of the terra blockchain is not to the point where I can write a proper proposal, but I wanted to write here in case this can be picked by other people.
Keeping OUR ecosystem. There are too many amazing protocol that work beautifully. You don’t need a stable coin (in any case it didn’t work). What’s the problem if we have UST as any other currency in the world that goes up and down in value compared to other currencies? We can bring USDC on chain if people want a stable, but most of the apps can work with UST which will always be 1 UST on chain. Even if now our 1UST = 0.1 USD things can continue and hopefully, since we will not be printing more UST from now on, the demand will increase again and 1 UST will be 1 USD or even 2 USD in the future.
If a country currency gets devaluated, the people in the country and the government, try to rebuild trust and bring the currency up, they don’t abandon the country and all go to leave in another piece of land.
For governance, staking, security we will keep using Luna. Luna could be deflationary and amount will be burnt when transactions take place.
If we fork, we will lose all the value of the current chain. It’s a suicide, like it was a suicide mint 6 trillion luna. There is no guarantee things will work with the new chain. The castle fell and the pieces are scattered but let’s try to rebuild from what’s left, rather than leaving all the stuff on the floor and go to another land to rebuild a castle from 0, leaving everyone else who has invested and worked with nothing.
We get whatever LFG can give us as refund and we rebuild from there. Do Kwon has to go since he failed, lost all trust from everyone and lost 50 billion of our money (he and VCs have probably earned money but we lost). A real decentralized terra can grow really quickly and we can recover part of our losses.