I work for a large multinational company and take care about launching new business and deal with business plans as well.
In the past few days I have seen several proposal and I spent time to go trough each one and there are some very complex that in my opinion could have some positive effects, but might trigger legal situation that I think in this moment every proposal is underestimating. Other proposals are just too complex to work, they require global tokenomics and assuming that CEXs can implement them overnight. It will take 12 months just for the development of what is being proposed.
Any possible redistribution of wealth will trigger scenarios where non beneficiary can put together a valid case of enormous complexity (I have purchased Luna to help during the crash, I had my Luna staked and I couldn’t sell, I was not warned by exchanges that the supply was inflated etc). You can simply look at the comments and you will find dozens of example of unfortunate situations that happened to different lunatics that would be impossible to address with an arbitrary (say let’s give 40% to these people and 0% to these people). The users that will not be happy to what they get will bring the exchanges in this discussion and the noise that will bring up will completely destroy the LUNA brand and reputation. You can’t save a project financially with action that would destroy the brand and reputation.
Personally I think the most defensible way to save Luna is to use 90% of the reserve funds to buy and remove the tokens from the circulation. That would immediately bring the price up to a point that can attract new investors and bring in new capital. Luna can’t be saved in a day, let’s be honest and admit that this is not possible. You need a structured plan that spans at least 12 months but the only way to refund is to re-attract people in investing in LUNA. You can’t do that having a meme coin supply around. Put a 12 months target to reach 10$ as a goal, starting from a price of 0.1$ after burning and in a year you can there. You can use the 10% remaining funds for development and to sustain the plan to reach 10$ by mid-2023.
In other words let the market save LUNA starting from a point where LUNA can be saved by the market. Only the market can save LUNA at this point.
I am not intending with my post to say that other proposals are not good (there are some financially very strong) but I have seen all of them forgetting about the big elephant in the room : that there are thousand of hundreds of very specific investors situations all characterised by combination of factors that let them lose money that cannot be reversed. Any plan would fail on one category or another and will lead to a pile of legal disputes. Each legal action will be a case on its own characterised by thousand of factors.
No one can attack a proposal where the reserve funds are used to destroy the excess supply. You can also bring other people in this efforts, partners and exchanges can contribute to burn the supply to support the LUNA recovery. We can fundraise additional funds to burn the supply. The entire world of crypto could contribute to save LUNA if you take this path….
Take all care.
I have not sold my LUNA down to zero and I won’t, this is my way to support even if it means losing everything. And we should all be ready that the only plan might work is a long term plan, there isn’t a short term plan that will give money back to everyone. It’s hard to deal with for some people but we have to face reality and rebuild. Don’t go in the direction of creating another coin/fork, LUNA can still be saved. The fork won’t have the same value. I wouldn’t put a single 0$ in a fork, and many investors won’t. Most likely: people will run away with their money.
90% finance burn + fundraise and partners and community driven initiatives to burn the supply
10% finance to rebuild (e.g. build global tokenomics to burn each transaction)