Destruction is essential to construction. If we want to build the new, we must be willing to let the old burn.
Dealing with loss of any kind is hard. Yes, i tend to shitpost a lot on twitter, but its never with any ill will or hidden intentions behind my words. Unless you’re the one who starts mouthing off. Anyways, what i mean to say is that i sympathize with those that lost perhaps more than they could afford or had majority of their assets wiped out.
Following up on my previous post about the shitty (imo) proposal, this debacle needs to be handled, and quickly. Everyday that it is left in limbo is another day that an anon has to deal with the ambiguity of the situation. As harsh as it sounds, it would be better imo to just announce that this mess has spiraled out of control and is now too big for Terra / LFG / Rich man to handle. Kill it, shut it down, start afresh. It will hurt but it will take a lot of the ambiguity away & people can start making plans on how to deal with their own personal situation.
Rebuild, use multiple snapshots to carefully distribute the tokens of this new ecosystem. And for the love of the moon, please don’t announce that anyone that buys & holds luna/ust right now, today up till the date of a proposed snapshot should be entitled to any. Its downright stupid & makes it look like an even bigger ponzi. New money to be used to pay the old holders.
Based on terra station, there is currently 6.9 TRILLION luna in circulation. insanity. but let’s do some quick math.
6900000000000 x 0.000181 = 1,235,100,000
So roughly about 1.2Billion to buyback all the luna in circulation. im sure they “could” somehow raise or get that but what then? Buying back all the luna and burning them doesn’t automagically repegs UST or shoot luna back to $100.
To end, though i have no horse in this race, i would urge the people at TFL to make a swift decision instead of staying silent and leaving people in the lurch.
Godspeed friends.
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