Forking luna and reversing the blockchain wont create any new value, I propose to continue moving forward with the current blockchain with a plan to pay back the bad debt over the curse of years.
Make luna deflatonary.
Distribute on-chain swaps fees to UST holders and luna stakers.
UST along with luna should be used for staking and securing the blockchain, this way also we can repay the bad debt with the fees from the transactions.
On chain swaps pools are owned and managed by the community, no more minting coins out of nowhere.