UST on binance

General
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I had ust on binance and bought it when it was $1 so according to this new revival plan will I get anything or should I sell ust now?
95% of my savings were in ust and now I feel stupid for not diversifying, i know it’s my fault but I don’t know what to do now so asking here for an idea about what to do?

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Personally I’ve taken to kicking random objects around my home and swearing at Reddit. But that’s just because it’s a weekday

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Yeah doing similar things can’t even decide if I should sell it or not, I don’t think any revival plan would even consider ust on a centralised exchange like binance. :confused:

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I don’t think any of us can offer financial advice here, but you have choices.

  1. Read the revival plan. Check governance channel to see what being voted. Decide if you like it.
  2. Consider the team. Do you think they can pull that off.
  3. Do you have time to wait. Refer back to when Eth DAO was hacked and see how long that took and make judgement if you can wait that long.
    Given, you think the plan should compensate you, and you think the team is capable, and you don’t need liquidity in your life right now, maybe you can just hold it and hope the recovery plan play out.

Oh, and if you hold it on Binance, I don’t know if that counts. This thing generally take snapshot on chain, and Binance isn’t Terra.

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check Do’s proposal…
Won’t be any snapshots outside of Terra but i think he replied to someone and said something about it being able to coordinate with wormhole not sure if that was for bridging it over now, or if you tried before but were unsucessfull but check it out!
However there might be a chance that Binance does cover you if you’re on the CEX?

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Same situation i bought in binance before the de-peg event are the propose valid for us ?

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CEX or on BNB chain?

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Thanks, that’s really helpful. I don’t suppose you know anything about whether snapshots will be taken of holdings on Osmosis / Keplr (or other Dexs on the Cosmos chain)?

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Agree. I think that’s why CZ Binance hated the idea of a hard fork. Ethereum did it way back when and it worked. I prefer folk because it has proven to work and it’s a special power of crypto to be able to do it.

CEX will hate it tho because they will have to choose to either lose trust, or compensate their users for all the trade that happened. I say they have to bear the burder. It’s on their platform that UST were dump off peg. As far as I know 1 UST was still 1 USD of Luna over here. They allowed that to crash on their side. They should pay, not people in Terra.

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Noope, It is Do Kwon who should be held accountable before putting finger at CZ. He was silent and still is. He wants to fork so he can escape from all this mess and compensate himself.

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And for me that I have withdrawn from Anchor 2 days ago, to try to save something by selling the USTs on Binance (not yet sold), What should I do? Selling to try to save at least 15-20%? For me, who had the funds on Anchor, would the Snapshot be worth it, even if I sell them now, or do I have to keep them until the end?
thanks to who will answer me

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I have the same issue

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I hope someone can answer to us what will happen to our ust on binance?

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Same issue. Can someone answer please?

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yes same problem, not sure if UST holder in Binance will be included in screenshots take and will be part of Luna2

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Won’t be any snapshots outside of Terra? Are you kidding me? A lot of people including myself lost an enormous chunk of our holdings from a STABLECOIN. And if we were holding on an exchange we’re what? Screwed?? Do Kwon can rot in hell.

I would sue him in a heartbeat. I hope he finds his way to prison in Korea

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Do you mean UST holders in Binance is included in proposal and they will be part of Luna2 distribution?

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I had some UST on Bybit and Huobi exchange platforms and wonder the same. I have a feeling we are all fucked, but even if I sell now, it is 5 cents per UST. So I’ll take my chances and hope for a compensation by the exchange, even a partial one will do to gain trust. But again, I wouldn’t keep my hopes up.

If the compensation happens for UST stakers in anchor, I believe these exchanges will get that compensation for putting our money to anchor in our names, am I right? So they should distribute that money to users. But that’s still a big IF

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We are millons around the world, i think exists more people holding UST on exchange than on Anchor, we should have compensation for this sh12#@!t, DO WON and all the terra team have this accounts full of money billons and billons they dont care about us.

We should open a telegram group and start some type of action with our exchanges.

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