This de-peg was clearly a result of an attack, so why not fork LUNA like nothing happened? Create a new chain, sth like LUNA Classic vs LUNA, and distribute the new coin among UST holders, developers, and anyone who tried to defend Terra.
It is simply impossible to repeg UST without destroying LUNA. The newly minted LUNA errodes everybody’s investment.
Hard fork the chain, distribute new coins to a certain group of people (will be decided by the community). This will create a new wave of hype.
I agree with this sentiment. UST and LUNA are both dead. The aim of any proposal should be to continue the Terra ecosystem.
Take a snapshot (before the attack).
Come up with a new LUNA. SCRAP the stablecoin idea or TABLE it for later.
We should take care of those who were staking LUNA.
We should take care of the smaller players who invested their UST in Anchor (there is another proposal with details on how to do this).
The community of builders, users, developers is what this is about.
Oh boy, Do proposed the SAME thing. He didn’t even bother to think a more creative name and called it Luna Classic.