I guess once Luna cap + UST cap < $1 * UST supply, the system is broken into a death spiral. Mathematically impossible to automatic recover/repeg, if you want to save UST then need external capital, or you need to give up UST(disable burn/mint like now) to save Luna(Luna value is going up since then).
Please support my propsal.
Yes, don’t discriminate or punish the new investors. Any conversions from V1 to V2, should simply be based on how many coins you are holding on the particular day of conversion. Not on the price where you entered or averaged.
I agree. I think we should read carefully the Terra Whitepaper. I think there’s a key point about risk-free profit:
“An arbitrageur can extract risk-free profit when 1 TerraSDR = 0.9 SDR by trading TerraSDR for 1 SDR’s worth of Luna from the system, as opposed to 0.9 SDR’s worth of assets she could get from the open market. Similarly, she can also extract risk-free profit when 1 TerraSDR = 1.1 SDR by trading in 1 SDR worth of Luna to the system to get 1.1 SDR worth of TerraSDR, once again beating the price of the open market.”
What do you think about “risk-free profit”?Thanks in advance for your contributions.
Hope we find an equitable solution.
I bought all my LUNA on:
May 9 (167.86 LUNA) @ 60.00CAD, + a further (58.65) LUNA at 44.33CAD.
May 10 I bought (49.84) LUNA at 24.97CAD
May 11 (777) LUNA at 1.35CAD + (800.29) LUNA at .56CAD
May 12 (188560) LUNA at 0.01194CAD which I think is the last purchase before de-list.
How am I to be compensated for V2?
Dear All members,
Principles of this plan is on Justice & unbiased approach to solving the problem.
Keeping emotions aside, Please stop thinking about your own loss for a minute, just stop. you’re not the only one - let’s think about justice & a way for all & not just ourselves. There are countless investors who were butchered by this event mercilessly. Many have commited sucides, Many might in the future. May god save all of us. so please stop giving bullshit proposals which only serves the side you are on.
Like many, I have lost 100% of my life’s savings ($60K dollars), nor I have a job to go back to. I am literally on the brink of bankruptcy & going to Jail (I owe a big amount to my brother-in-law as well which was wiped out by this event). So if he sues me, I am going to Jail. I have failed my family & 3 kids.
People who have fled with their Terra investment in slight losses (be it Luna, Tust, etc) - congratulations to them on making the wise decision. Many, including me were overconfident. People who are stuck with any form of Terra coins/token in their portfolio - are the ones we have to think about in terms or revival.
It is such a stupid - stupid argument when anyone in terra community tries to pick sides by distinguishing LOYAL set of users/investors OR Before the attack or after…etc. Well, what do investors have to do in order to show their commitment to Terra other than putting their hard earned money… Open our heart with knives & show it to you, for you to believe??? or your logic is… their hard earned savings doesn’t matter to you coz they invested 1 week ago & not 4 years- so it’s not essentially your faul but theirs as they trusted Terra??? You cannot quantify emotions/logic/Loyalty here, we all were fooled. I am sorry you just can’t or should even try to. What matters here is, money was rekt & most importantly people’s lives are now devastated & needs help and healing.
The proposal below aims at minimizing damage in a just way for all & not just me or you. Do not focus on the value of coins or tokens before depeg/after or distinguish small investors vs big investors, UST holders or LUNA, etc. wouldn’t you agree - They are all biases based on which side you’re on? Remember, if you bought LUNA at any price level $119 or even at $0.5 - 99.9% loss will give you the same results & losses. Same with Tust.
The right & fair question to ask here is: How much capital did users invest that they have held till the very end? how much do we have in LFG reserves & How much of it can we compensate with our new plans & systems in place?
Let’s use on chain analysis (minus individuals who are out of the system & are not at further risk) - we can simply check user’s capital investments & decide at level of reimbursement which can be made. if it’s 30%, 40, 50% - whatever that % is - will help everyone equally. All soldiers who faced the attack with bravery…held their investments till the very last minute, meeting the death of the investments - should get fair & equal treatment.
Again before replying, be honorable & don’t think just about yourself & the side you’re on.
real good idea
True, I bought LUNA when it was falling at $1.5. I bought with $25K USD and now my account is almost zero. Does it means I should’t get compensated? I strongly think some people rug pulled to derail the peg, but now looks like they will get compensated but people who bought in dip to save the project is getting punished.
That’s the risk buying equities. It could be worth $0.
Will this idea work for you?
Anyone that has LUNA in their account is a “true holder.”
I support a fork. Can let decision on fork point to benefit LFG/community pool, but an ideal objective fork point would be when Luna market cap and UST market cap were both equal.
Luna v2 would be airdropped 50%/50% to luna and ust holders both at time of fork. LFG/community pool could participate in these airdrop funds instead of 10% (revival plan) allocation.
@FatMan 's proposal to compensate small anchor balances could take 5% or 10% of UST airdrop pool.
No one’s permission is needed for a fork. It can be friendly v1 v2 cooperation with all tools/apps working on both chains. IBC/trade between v1/v2 should be a priority. Any incentives that v2 provides v1 for “burning v1” can come later.
Fork first, cooperate later. Simply different validator/vote motives on the 2 chains.
So everyone is equal? Great, divide all the UST between all members of the community equally, problem solved. I would rather everyone who had a few hundred dollars get every cent back before I get anything because they probably need it more than I do. Why don’t millionaires feel this way?