There is no fair way to do anything that makes everyone happy. DO and the investors and backers need to get into the markets and buy until the price stabilizes!
We all would have a chance to avg down if we decide to. Let people trade and make money, who cares when someone bought!!
Quit hiding and start buying. DO, Galaxy Digital, Pantera and other investors could make millions supporting it now. So what that the guy that bet DO won the bet about shorting LUNA…
I’m new here, but we’ve been working on a Terra project for some time. If they don’t fix the public perception and recover this; Terra will die and we all lose.
This could be a great story of leadership and strength, or a sad tale of a team wimping out under pressure and hiding like children. Man up and find your cajones!!
I agree with this.
Do Kwon needs to take control of this situation and lead us out of it.
Yup, Do needs to openly admit his faults and come clean. After that he should announce massive buyback strategy.
I strongly believe it’s the ONLY solution! I don’t think we need any mea culpa, just needs to act! He can say he’s been working behind the scenes for a solution, who cares? Let’s hope he is.
But clearly this has to be a huge punch to the gut for him personally. From all the things I’ve seen, he’s a brilliant guy and this catastrophe would shake anyone. How he handles it from here determines the future of his brainchild.
I wouldn’t hold my breath. The radio silence just seems like he is preparing for the onslaught of legal action coming his way.
I agree with this, the essence of decentralization is to make the market mechanism work naturally, effectively and efficiently.
Let the wheels of the economy work without a hitch.
the dao aspect seemed to be achilles heel to the chain, nothing could get done swiftly without a 7 day proposal
this destroyed any quick decision making that was required in a crisis
I understand that side of it from a governance concept, but DO and the team could have a call with their capital partners and large investors and make this decision in 2 minutes. No one is prevented from buying.
Could 2 types of Governance work better?
One for “regular matters” (7d) and one for “emergency matters” (say 24h or less).
It would’ve been nice to have an emergency team of lets say 5 people (voted on by the community) that would’ve all had to agree to stop the blockchain when the blockchain was being attacked. The damage was already done by the time the validators stopped it.
I agree with the governance comments, but that ship has sailed for this current situation. Really need DO and investor class to step up and support it now!! If you liked it at 50 cents you have to love it at less than a penny!
The trading herd would chase it back up out of the basement and there would be many millions for them to make on the way up. It ain’t going back to $50, but a concerted effort to force short covering could get it out of the pit and breath life at least toward and dollar. That would at least give hope of recovery and then see what happens from there. The trading bots will keep buying if buying is making money!
Yes a massive buyback and burn
YES, EXACTLY! It’s the only way to save Terra
It is, to many Luna were mined smh I have 8k Luna worthless now
@dokwon has been an excellent leader and he needs to step it up here and lead us out of this