There might be a way for a billionaire in the crypto space to take over, inject a few billion, and make it worthwhile for him.
For example, if Elon Musk bailed it out, I would agree to buy and lock Tesla shares for 5 years or whatever he wanted.
If CZ bailed it out, I would buy and lock BNB for 5 years.
And of course they both get a healthy allocation of the new LUNA tokens.
And by bailing out, not $50 billion, I would hope $5b to $10b is enough to ignite the ecosystem.
Also there would be a new wave of energy/ confidence with a new leader. And I hate to say this, but Terra needs a new face to instill confidence and energy into its brand. This could have the effect of $5b in itself and can’t be underrated.
I would hope both Elon and CZ in this scenario would both make more than $5b to $10b in this scenario if we were forced to lock their stock/ token and they got a healthy allocation of the new LUNA tokens.
See where I am going? Maybe it’s just possible for it to make financial sense for a white night billionaire.
Do Kwon, please take a few days/ weeks even and wait to see if any external funding is possible. Don’t rush any plan.
Also without external funding of at least a few billion, new leadership I don’t think Terra has what it takes to revive itself. It needs a boost that makes it more mathematically feasible and pumps some energy/ good will into the ecosystem. Otherwise I fear people will just dump everything the first second they can.
I truly believe LUNA could be back over $20b market cap and UST peg to $1 in this scenario.
Why would a white knight billionaire buy a worthless token? There’s no value in the Terra/Luna ecosystem. Never was. It’s a Ponzi scheme that has just been exposed, irremediably destroying the brand in the process.
I’m sorry you’ve lost money, but no one’s coming to save this coin. Take a few deep breaths and move on. Call friends and laugh. And for the love of God stop buying cryptos.
Terra had a thriving ecosystem of Dapps and Devs, it just needs an injection of money and hope with new leadership.
This proposal can’t be any worse than the current 40/40/10/10 plan (not saying it’s bad but it could be better)
And who the heck are you, Liz Warren?
You’re right, this proposal is not worse than Do Kwon’s: Both are equally worthless.
The entire system on which Terra is built is flawed: As the attack has demonstrated, you cannot peg the value of the ecosystem to the dollar. The “stablecoin” was never stable. It was only sustainable because people believed in the unsustainable promise that you could stake it and earn a riskless 20% APY.
Now this trust is gone. The attack has revealed the coin to be entirely worthless, and the system to be entirely broken. Forking and time-traveling before the attack, or injecting new currency, will not solve the fundamental problem: There is no fundamental value underlying Terra. People are now aware of that, and the second the chain goes online again, investors will flee again.
Trust is a fleeting thing: It’s gone, and trust me it is for the better. This project was a Ponzi. Live and learn.
You here to rub salt on peoples’ wounds? Bro, people have lost tens of BILLIONS of dollars. A lot of very intelligent people didn’t see this coming, of course some did.
Have a heart.
I’m honestly insanely sorry for all the people who have lost money. I know many, and call them friends.
I’m just saying it’s best to move on. Most people are here have no idea what they are doing. The others are scammers, who will feed of your desperation, and perhaps convince you that they have a solution, that they can get your money back. They don’t have one. You’ll only lose more money by persisting in this toxic ecosystem.
I’m not here to rub salt on anyone’s wounds here, quite the opposite. Just trying to make sure that people who already lost a lot don’t lose even more by chasing a pipe dream.