[Proposal] Forget UST, save LUNA

Summary
All UST related rescue operations need to be stopped and focused instead on the LUNA.

Motivation
UST can no longer be saved. Even if UST comes back to $1, no one will want to hold UST. I wouldn’t hold. Therefore, we must immediately stop trying to save the UST. We should focus on the LUNA instead.

Proposal
Stop all UST-related recovery actions. Focus on LUNA. The only way to save people’s investments is with LUNA. Increase the value of the LUNA. Get credits, offer stakes, whatever. Rescue LUNA with all the strategies you know. After LUNA becomes valuable, give LUNA to UST holders and get their UST. In order, slowly. Maybe people will wait for their turn for a long time but that’s okay, they will know for sure that they will get their money back. Confidence in Terra will increase. He’ll make people believe Terra has a future.

55 Likes

We need to consider many factors.
but simply I Agreed.

here is my opinion.

7 Likes

Yes, I also agree with your opinion.

We must burn all USTs. Reboot the system without UST. Focus on LUNA. Pay UST holders slowly as the LUNA gains in value. This may be against the Terra ecosystem, but I see it as the only freedom.

20 Likes

Use some TFL’s LUNA for the compansation.
To prevent dump, linear vesting can work.

6 Likes

Yes. Forget UST and focus on LUNA recovery plan. No one wants to hold or trade with UST even in future.

9 Likes

Interesting solution. However, firstly we should just sell UST and buy LUNA. Every (mostly) UST owners should do this. After, the UST should be excluded from the markets. Maybe we should not “reboot” the system, but turn it “on pause” with a single bridge for selling JUST and buying LUNA.

6 Likes

There are quite some folks that have locked up UST in Pylonprotocol. Long timeframes. By that time UST might actually have repegged (the chain will eventually be irrelevant by then but Pylon users might be able to exit gracefully).
The design of UST always had LUNA as volatile asset in the up and downswings to secure peg. Where’s the surprise there? Sounds like coping and trying to save your bag.

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I agree, this is the only way to save LUNA, otherwise both will die.

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Yes, Save my & your & everyone’s bag.
I suggest this idea as a rescue protocol.
As you know we break the whole crypto world.

The hard fork block number should go to before attack.
It’s fair. I think.

I agree, too.

Save Luna first because it is the main coin on the Terra.

Compare to the usdt and usdc, the ust token would be untrusted by the previous ust holder.

Save Luna first could be an ideal proposal for the Terra; otherwise, both of them will die before very long.

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Whole crypto world? Which other chain has fallen because of this? Seems the rest is quite ok. Tether was attacked today but had much better peg defending. And the reason wasn’t Terra, afaik.

Disagree- plenty of talks and videos of Do chanting “UST” and declaring UST as the reason this came to life. Luna was a way to make it work.

1 Like

Well, all cryptocurrencies are hold on trust… And UST has already lost it. So we can’t save LUNA with the weight of UST kettlebell. It’s a pity but it’s true and very few persons will use it since yesterday. The only thing UST holders want now is to save their money. We can do it together if capitalization of UST go to LUNA. The price of LUNA will rise and former owners of UST will save their money.

2 Likes

Thanks for sharing your opinion. but I think we accelerate market broken with fud.
Many big media saying about TFL now.

I Agree

I been holding Luna for so long and all of a sudden it falls but still I am in hope and holding my 1000 Luna coin.

Let’s see what gonna happen

#Saveluna

I also agree with your opinion.

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I also agree with your opinion. I will not continue to use UST

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We all know no one will trust UST even if you save it. But if you save LUNA, it can be hero. Am I wrong? So we should focus on saving a project not bags.

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I agree with trust being broken. But that is in Luna and UST. They are both dead. Only thing alive (for the moment) is the blockchain and it’s dapps. Eventually a “new UST” will emerge (collateralized etc) - or validators will all flee before and the blockchain stops. That’s why I proposed USDC as intermediary patch. To keep things going. But do I see a future in luna and ust? no. And yes - i lost a lot in this. Like many others. “reviving luna” - based on what? i see zero meaningful revenue streams that would keep it going. Who would inject capital to revive it and to what return? Would immediately be a pump and dump coin.

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Not every altcoin has its own stablecoin. But there are also very successful ones. Now the Lunatics want hope. Now or never.

Attackers do not want the UST to rise. He wants to completely bankrupt Terra. Let go of the UST love. Stop fighting UST whales, become a hero by rescuing LUNA. You think about the rest later.

6 Likes