Bitcoin Forum

is it possible UST recovered ?

What? A stablecoin that is right now at $0.1, and you expect it to recover?

Not a chance, it de-pegged, and protocols mean't to keep it up didn't work out but instead worsened the situation even for Luna Coin.
Move on mate. I just hope you were not one of the victims.

^ The most people ask.
UST is pegged by the dollar and it is a stable coin but even if it is a stable coin still it was dumped altogether with the LUNA coin.
Dont expect too much from this coin, it will take a matter of time before this coin will recover and if LUNA has a good sign, for sure this coin UST will also have a sign to increase the price. If you have faith in them just keep holding but as I heard these coins are prone to become shitcoin which cannot recover anymore. So it is up to you now what is your decision.

It is called stable coins but now look at its price, do you think something like this could still recover? and the price of the luna is no -99% in less than 3 days I don't think something like this could still recover, do you hold some UST? I saw it goes up around 40% and dump again around 35% yesterday.

I dunno, I think when the price hits $0.5 again, then a mass sale could happen. however, currently UST is very far from the word "stable coin". people may tend to sell the assets they own rather than keep these coins. The losses received by the holders are also very large, which allows them to immediately secure their assets when prices have started to recover. the considerations are many, like if this coin stabilizes again, there might be very little interest in it. people have started to lose the trust of this team.

The Terra Network and Ecosystem (LUNA) is dead, there is no hope of getting this network back to normal. Based on the tweets made by Do Kwon on his twitter account, they have tried their best to keep UST stable, instead of returning to normal, Terra (LUNA) and UST assets are getting destroyed, even now the UST price is only around $0,2.

To be able to recover requires a lot of reserve funds. and I don't think the UST team has that. if they had a 1:1 reserve fund in the first place, this crash would not have happened. luna will not fall, and ust can be controlled. but the fact is that terraform labs continues to minting luna to return peg ust.

it's not possible for ust to recover, Cz talked about burning, I feel they would do Redomination if they are ready to rebuild the project. This scenerio is like what led to Ethereum and Ethereum classic, the DAO hack exposed the flaw in ethereum blockchain. Likewise the fall in the market exposed the flaw in Luna-UST mechanism. Binance had relisted it y'all should be extremely careful trading it

If the team is able to recover and develop it as before, then to recover and be on a good track I think it is still very possible,
but so far how serious is the UST team in restoring it? this is what you need to know now.

Probably, but it will take a lot of money coming from Terra to stabilized their stable coins. It lost so much value that investors thinks this is really  rug pull coming from Do Kwon and his team.

It's just really unfortunate, in the beginning it was Tether who has a bad reputation but they were able to survived and stay in the market. But with how UST and Terra has experience? I doubt though that it can recovered in short amount of time.

I am not sure actually but based on an investors perspective like me, the UST is supposed to be a stable coin but as you can see it drops... no it crashes to 0.1 which is very unlikely for a stable coins, now the question as an investor are you going to buy a stable coin that drops to 0.1? I think all of us don't trust it anymore so I think it won't recover anymore.

I knew nothing of this coin until yesterday and wasn't aware that it was imploding.  Now that I've seen a few people talk about the situation on Youtube and have seen the arrogance of UST's apparent leader (the Asian guy; can't recall his name), it's little wonder that the whole fucking thing turned into a giant disaster.

And no, I don't think UST is going to "recover".  That would take a tremendous amount of trust on the part of the very same people who've just been burned to a crisp.  Never gonna happen.

If that's a serious question on your or anyone else's part, I'd suggest getting checked for head trauma.

UST is dead and should not be invested in anymore. Do not get your hopes or anyone elses hopes up. It is a failed, dead coin and if the price wasn't a give-away, the suicide help hotlines posted on Terra Luna's social media should be more than a clue and a red flag.

I feel sorry for the people who lost money, but there is no point in losing even more money by building up hope and throwing money at an obvious-looking ponzi scheme scam.

If anything this should be a hard lesson that just because someone calls something a stablecoin, does not mean it actually is stablecoin. Especially if it is based on an algorithm. It was only a matter of time until someone found a weak spot in the algorithm. Maybe the owner himself knew it all this time and was just waiting for the right time to scam everyone.

I believe that anything is possible crypto and same goes with UST and LUNA as well.
However what is the percentage of the project to recover. For me, its 0.00000001%. The developers need to do two things to have a higher chance of recovering
1. Have a recovery plan for their project
2. Gaining the trust again of the investors.

The first one is on its way but the second one is the hardest part because of what happened to them. The de-pegging of UST caused so much trouble to all stablecoins and spread doubts to the investors. Well, I'm not expecting for the project to recover especially with that huge supply of 7 Trillion. The trust of investors to this project is gone already.

UST will no longer be a stablecoin. The recovery of the price of the token may happen, because a lot of serious investors have invested in the project.
But first, you need to buy back most of the coins as cheaply as possible and get ordinary holders to sell their coins as cheaply as possible.

very difficult unless they release new coins. but this method also has some risks. so I guess the chance of recovering is very low, even if done by any means. releasing a new coin without a 1:1 backed will just repeat the same problem. trying to buy back UST in the market requires a lot of money, and there will be another dump because there are already many who buy cheap. I think it's over, there's no hope for this project.

Not a stablecoin anymore as UST has crashed even though there is support behind to cover it I'm not sure it can reach $1 again and still be a shitcoin with LUNA.
Although many investors have seriously invested here, many of them have had bad luck, the tokens which they say are stable are now destroyed because they cannot be defended.
I just think investors have now dumped their tokens in this project.

UST is backed by Luna, if DoKwon and his team can get luna back to the top, UST will recover but this possibility is very low because investors' confidence is lost. Can't imagine a coin in the top 10 of CMC in just 3 days has lost 100% of its value, this will be an unforgettable history for the crypto market. Luna is really dead.
 

The question is what will currency developers/investors/POS benefit from returning that currency to $1.
Reputation and trust are necessary in this market and this trust is difficult to restore.
Therefore, there is no economic feasibility in burning millions of dollars and bringing this currency back to the $1 barrier, because it is difficult to find someone who trusts them in huge amounts.

I do not believe that "anything is possible" is a great approach for crypto, I mean sure we could see realistic but also very high volatility, but if something goes from 80 bucks and more to suddenly drop under 1 cent then there is no way that it could be recovering. Sure, there could be some situation where the price could go back up a bit, like going from 1 satoshi to 200 satoshi looks like a 200x increase and could you make money that way? Maybe?

But at the same time, I have to say that it is a rare situation to be in and I doubt that it would be that simple, it would take a while before we could see the team recover it and would be approached with some doubt.

The hype most probably telling people that it can still recover but it looks like their plan is not working and not a good idea. Releasing another token can’t help this to rise in value, so think this is a total mess and too risky to ride again. If you’re into UST and still want to make money in short then you can buy this for a little money and just hold since there’s a chance but no that high so better not to expect too much from this.

He's called Do Kwon  ;D

Most people got Kwonned (No pun intended) during the Luna shitshow and I hope they learned a lesson from it

They are the same click of scammers and shitcoin pumpers... Another one is Justin Sun, owner of Tron network. Apparently he was also in the process of creating his own stablecoin USDD which uses the same principle as UST. Fucking modern day Ponzi scheme jerks!

I think Do Kwoon(hope I got the name right) and his team of Luna Foundation Group are running helter skelter. The recovery plans seems not to be working at short term at least. I think they need to show us where the bitcoin reserve is

if do kwon have the amount of reserved fund equal to the total supply of UST in 1:1 ration then it’s possible otherwise it’s day dreaming because many of UST holders
has lost confidence they might as well switch over to something like “real” stablecoin like USDT, USDC and the likes staying faithful with UST is just wasting your time
and getting UST back to its $1 value is no easy thing unless do kwon has billions of dollars in his posession that surpass UST total supply.

It's not possible. UST is dead even the new proposal said UST holders will be refunded use USDC which means UST will never peg to the $1 again. This token is dead and nothing left to the holders. Bunch of holders are getting scammed by this scam stable token.Some people didn't even learn from the story about UST and luna. These people keep bought garbage UST and luna which were dumping so hard until both have no value. You hope with luna is ended here.
This will never recover even when some holders got refunded. This mechanism has become the worst thing in the crypto

The LUNA algorithm failed and recovery will be difficult. Even when Binance wanted to liaise with them, the LUNA team failed to communicate with Binance. This is really a dent to the crypto space and raised fears on cryptocurrency especially for newbies in the crypto space. As at today UST is $0.1794. With such price, I think recovery will be difficult for UST.

There is no interest from UST to recover it. A lot of people has already migrated to other stable coins. As soon as recovery process started and price starts to improve, those who still hold UST for some reason, will dump it as quick as possible and make price even lower. UST will have to recover from two reputation fails. Even if UST recovers, it has so bad reputation, that people will avoid it. People would be back, if only this stable would be worth more than 1 dollar. That is unprofitable for UST, and that goes across the meaning of a stable coin.

I think maybe UST could recover, but it would take time because there are so many variables involved in the UST story that it's impossible to accurately gauge where things are right now or what the future holds.

If you look at the current market conditions, UST is still holding on to its support line. In my opinion, if this support line is broken at $0.0372, UST will fall quickly. But if it holds, then an upward move could become a possibility again.

Hopefully there's some light at the end of the tunnel but not sure in this case whether a full UST recovery is possible.

Your only hope for getting some dollars from that is to buy that and hope you can get into class action lawsuit and that Do Kwon has money to pay anything. But that's more of a hassle to me as it would take ages and i am not sure if they would accepted people who are buying now.

The Luna team should have responded to what CZ suggested because it was the best solution offered to solve a big problem, Luna's team should position itself as a part that requires great support from experienced people to revive Luna's project from big losses of investors.

stablecoins that have been destroyed, they are now $0.1 i think there is no possibility of them anymore, they will disappear soon. nothing to expect anymore when the developers are not making any more efforts to save this coin.

I no longer have any faith in it, and of course, what I am interested in now is to see if they will correct those mistakes. I have come across a number of proposals regarding compensating those who have suffered damages with UST. https://twitter.com/PersianCapital/status/1525226161944506368 And I'm also very supportive of this, even Vitalik mentioned it.
And now it's time for everyone to soon see the exposure of the risks and tricks in this space. This is probably one of the great lessons for us in this market. Dangerous things are always lurking and stealing people's assets.

no

If a large fund will invest

Don't expect immediate recovery, the market had suffering huge decline and most of these stablecoins are been too affected, they are making close to zero.
Might the recovery come but this will happen first to Bitcoin and in some altcoins.
Well, I know that everyone is hoping for recovery, not just for stablecoins but for the entire crypto market. It indeed will come, however, to know when it really uncertain. That is why I encourage you to just stay calm, have some faith, and let the time come. Maybe you have to spare time out from crypto in order to keep yourselves not worried about your investment.

No hope.

Sorry for those UST holders especially those that have trusted it and staked to those platforms where it's earning a huge interest APY. It's now decided by Do Kwon.

They'll release a new token and that seems to be the signal for everyone who's still putting their trust on its recovery plan.

How exactly will they do that?

They are now broke after Luna foundation guard tried dumping lots of Bitcoin, USDC and USDT to save their stablecoin

Out of the 80,000 BTC they held, they now have only 313 Bitcoins left  ;D

Read here, and you will see that there is no coming back for UST - https://www.coindesk.com/business/2022/05/16/luna-foundation-guard-left-with-313-bitcoin-after-ust-crash/

I think you are mixing or confusing something. Everyone are waiting for market to recover, but no one (except those who has missed chance to sell on time) expect UST to recover. Why would someone wish UST to recover, when there are lots of alternatives. In addition, there is no trust in UST anymore. It is not use to save it. Who would invest their money in a stablecoin that is now worth 1/10 of its value, when crypto offers lots of other opportunities to earn? I believe no one.

i dont think UST willl be able to pull back a recovery anytime soon;
with the new revival plan proposed by Do Kwon, optimistic LUNA hodlers are dearly hoping that things will get back to normal.
but I personally feel that's not happening due to the spike in market cap over the past couple of months.
UST has lost too much trust among the community and trust is something very hard to earn back, especially now that people have taken losses.

It's not possible. Look at the latest tweet from do kwon and this guy even given up to recover UST, this needs billions of money that the foundation didn't even have to recover the stable token like UST which already dumped so hard to the bottom. Luna foundation was dead and its UST already gone to hell. It's better if you are watching the latest news as it contains so many information about how is it possible for UST to wake up again. UST is dead and luna too.
Expecting UST to peg with 1 dollar again just a dream

There is only one small catch: Burning is accompanied by a massive loss of the base currency, i.e. Luna. Since the price is already massively punished, there is little room to maneuver. Personally, I think Luna and USDT are finished. In the crypto market, it is mainly about trust and this has been massively damaged in the project in recent weeks.

UST is so difficult to comeback to the above 10 cents. It's hard to believe if there would be a miracle that will come to the UST to make this token become peg with 1 dollar value again. Im sure that if anyone know so well about the possibility for this token to go to the $1 again. People have been loosing their faith to this project. No funds to back UST anymore. This will become another meme token for sure. The ceo of this company didn't even care again about this stable token. He was issuing the new token for luna soon.

According to Do Kwon's statements, this stabelcoin is not expected to have a good ending. If the developers make a fork of LUNA, there will be no stablecoin in the new version of the LUNA. So it will be a regular blockchain with existing infrastructure. So UST will never recover, because no one will do it anymore.

You are a fair user after all :D. I mean who really has any faith in it at all? They destroyed their own coin to nothingness just to keep it alive, and now that their coin worths absolutely nothing, they still haven't been pegged to dollar. That should show you how impossible it is for UST to be pegged anymore.

What other option do they have right now? It's clear that they have tried everything they can and they have failed. Sure they could also give it a chance to maybe do a new coin or token type of deal for all the people who lost money and retry it all, but they will fail again and this time around they will not get as much attention neither, it will not work.

is it possible for UST to recover?

the flow should recover, because the UST token is no longer foreign to us crypto lovers, especially since the token has a strong underlay against the dollar. Everyone expects UST to rise again, especially since I myself have assets in UST and LUNA, buying at the current position, according to the article published on the voi.id site CZ believes that UST and LUNA hope that Terra will make changes to the Transparency sector.

reference: https://voi.id/en/technology/168251/setelah-ust-luna-ambruk-bos-binance-changpeng-zhao-berharap-tim-pengembang-terra-lebih-transparan

hopefully there will be changes in terra UST and LUNA and restore the price of the token which is currently collapsing on the market.

So why did do kwon need to created this stable token if even do kwon already expected to have bad ending like this time? Is this a ponzi that created by him or what? This is really absurd. Remember when he was even calling himself as a master of stable token.
This proves that if he has a big hope to UST but it's failed token right now. His mind is getting changed with the situation that changed drastically.


I heard that as well but the problem is all of UST holders permanently loosing their money? even when they will be compensated with the new luna token and there's no guarantee if this can help them all to recover their lose caused by UST.
i doubt about that. A big mistake already made by foundation.

How do you recover a stable coin when it reaches 0.05?When the US is in such a bad position, it should give up hope of recovery.Because of this UST, Luna moved to this position and became very poor.And it is not possible to recover it.

no

It's not possible anymore. I suggest you to watch this tweet from LFG https://twitter.com/LFG_org/status/1526126716388749313

UST facing almost 95% dump. The LFG wallet already empty as bitcoin already sold tot he market at the dip price. Luna was dumping its bitcoin for only a few thousands worth of luna tokens. UST is dead. It will become a collectible token in your wallet as it doesn't have value or utility.

If you are still holding your UST and then you must know if that was the worst decision you have ever made to bought UST. UST didn't have strong fundamental. The worst stable token in the history

in my opinion it can recover if terra foundation have amount of dollar that can be redeemed that match with current supply and fix the minted problem but i dunno seems impossible to match the current supply right

I think they really ran out of ideas about UST, all guarantees to make UST stable have been liquidated, and UST still can't return to its original price, Addition of LUNA supply to burn UST is discontinued, there's a high possibility they won't be able to return to coin stability again. Even the Terra team wants to create a new coin with a new protocol and ecosystem as a replacement for LUNA UST, I think these two coins will soon be abandoned by everyone.

With just 80 million out of 3,9 billion from the reserve, UST can not be made whole. That is just 2 percent of the reserve for 99 percent of its users.

TFL, LFG and Do Kwon are lieing at every turn. They are scammers.  I highly believe they are still having the majority of the btc reserve or have sold it to themself. Selling 98 percent of the reserve to a handful of whales does not seem to be right/legal.

The best shot is to take legal actions against them to retrieve the bitcoin reserve or other funds they have syphoned over time. With that money the majority of UST holders could made whole.

Then Fatmans proposal on terra money would be the best shot. Basically everyone would get UST maginal tier based back in form of USDC, favoring smaller wallets. Example: The fist 5000 UST would get 90 percent back, the next 15000 UST would get 80 percent back, the next 25000 UST would get 70 back etc.
So some who holds 40000 UST would get back: 5000*0,9 + 15000*0,8*20000*0,7=30500 USDC.
Above is just an example not real numbers.

Exchanges would need to provide relevant data of how many users did hold how many coins at the prepeg date. Then users could exchange their UST to USDC. For users who had panic sold they would need to buy back the UST in order not to gain twice (compensation+selling)

What about luna holders: UST holders would in this proposal priotized, because UST was supposed a stablecoin and not a volatile assets. Luna is also a governance token from the legal perspective. However even UST holders are priotized, LUNA holders should be included and made also somehow partially whole. We should avoid that Do Kwon pits UST and Luna holders against each other. LUNA and UST holders have to unite against LFG, TFL and Do Kwon .


Another smaller shot is the possibility that big players will donate something. Binance CZ, Justin Tron and Vitalik Buterin have already twittered about Fatmans proposal to be the best way. The whole crypto reputation is at stake and if millions affected users are spreading the word, crypto will go down in the longterm, decreasing revenue or wealth for the big players or exchanges. It would be in their interest to help and also avoid lengthy and costly lawsuits.

Some links below:

Fatmans Proposal tier based USDC compensation for UST holders: ([Proposal] Tiered repayment: 1:1 USDC refund to all UST holders up to a certain cap per-wallet using LFG funds, favouring small wallets)
https://agora.terra.money/t/proposal-tiered-repayment-1-1-usdc-refund-to-all-ust-holders-up-to-a-certain-cap-per-wallet-using-lfg-funds-favouring-small-wallets/6471

Binance CEO CZ tweet about Fatmans proposal:
https://twitter.com/cz_binance/status/1526129841376043008

Justin Sun tweet regarding Fatmans proposal:
https://twitter.com/justinsuntron/status/1526149180909289472

Vitalik Buterin tweet regarding Fatmans proposal:
https://twitter.com/VitalikButerin/status/1525561624974700545

Other links:
Discord link to Fatman regading legal actions against LFG, TFL and Do Kwon and exchanges
https://discord.gg/k3DPgn9ds6

Some legal background information:
https://classic-agora.terra.money/t/next-steps-for-luna-ust-holders-a-detailed-analysis/22084

Fatmans twitter account:
https://twitter.com/FatManTerra

Please be always aware of scammer or impersonators. Fatman or other will never dm you first. All links i provided, you can recheck in the "Fatmans Proposal tier based USDC compensation for UST holders" link



Someone on twitter claiming that do kwon did make even 10k BTC gain and holds 90k bitcoin. The link below has nothing to do with the Fatman proposal link. Just adding it here. Not know if true.
https://www.reddit.com/r/terraluna/comments/us4v5m/the_rabbithole_that_lead_to_do_kwons_missing/




Added on 21.06.2022


Seperate singaporean lawsuit:
[/b]

There is a seperate singaporean lawsuit. The first step would be an injunction against TFL, Do Kwon, ...
For the injunction the laywer fees are between 15000 to 25000 SGD (singaporean dollars) shared on a pro ratio basis on on all claimants.  Currently 1,7 million USD have signed already. With more people joining, the fee each individual gets lower.

Example: If your UST claim is 50000 USD the laywer fee would be only 2,9 percent from the fees. 2,9 percent of 25000 SGD is 735 SGD or 530 USD.

The main focus are singaporean, however other people can join as well (I am from Thailand)

You can contact the laywers directly:

You could contact directly the lawyer here https://www.drewnapier.com/Our-Lawyers/Mahesh-Rai Indicate legal name, UST amounts, date of purchase

 Who is eligible? (UST holders, UST holders pre-depeg, but sold at a loss etc)  
Anybody who bought and hold UST before May 13, no matter if they sold or not after that date  

Here is the discord link for organizing the users:
https://discord.gg/Ef9YYphAPD

Possible but needed to inject a lot of funds. You see many users have bought that ust including me during its $1 days and now its reallt below it. I am managed to salvage some funds when its almost half but not all funds have been recovered. I accept the loss and ready to move on but when Luna said rhey are planning to fork it. Somehow I have seen a hope but seeing the details of it. Still its not worth it especially they will only reimburse those ust connected to protocols which mine isnt since I just stake mine on a centralized exchange.

This crypto market is totally unpredictable and you could see coin going to zero and then again rising above Little but the case with UST is different and exchange have also delisted it so the funds flow is not possible at big levels.Moreover i would say people have seen the so called stablecoins dumping so it's better to stay away from them as much possible.

The fake peg, LUNA, is gone so chances are it will just drift around in value like any shit coin. I'm impressed it has held 10 cents of value given there's nothing backing it and the blockchain is down. Some very brave people to be trading it at those levels on exchanges.

Basically people like me are waiting to be hopefully compensated (I have no idea if that ever happens)

If that proposal from Fatman gets implemented which even binance cz, vitalik and justin sun have recommened, than we could at least be partially be made whole.

To make it simple for that we would need to hold UST at a certain snapshot date before the depeg and still holding the UST to not double gain from selling. Also it is tier based favouring smaller wallets. Then we convert them to USDC. Also big whales would be getting a much smaller percentage than smaller guys, in order to make the most people whole. Check Binance CZ twitter for that.
For people on anchor it is more easier, for people who hold on exchanges, the exchanges must provide the data of their users.

Anyway, to compensate users there most be funds available. I highly doubt any of those will come from LFG, TFL or Do Kwon voluntarily. They are having only "80" million of the reserve left...

I consider Do Kwon, LFG and TFL as scam and highly assume that the majority of the BTC are still in their hands. If those could be retrieved and any additional donations from the crypto whales (justin sun donated 10 million)
there could be a chance.

That is why i am still holding. If it goes to 0 not much to loose anymore, but if i sell now i might not be egible for a compensation which might be a higher percentage. I wait even if it takes some months or years.

I think seeing the current state of economic conditions and there is a lot of bad news circulating with the influence of bitcoin being a bear market so that UST will never be able to recover, it can be said that the product failed and might soon go bankrupt, a different story when there are new investors who have started to come in and provide financial assistance to restore the UST price.

No, people will now stay away from that coin after what happened I would rather choose BUSD or USDT rather than that coin. We are not sure how stable it is right now but I am sure that it is prone to crashing more and it is not a good idea anymore to invest to UST or Luna.

New users should definitely stay away from it.

However people who had their coins before the depeg, that is a different story.
If they sell now they might not be able to claim a compensation. Binance CZ, Vitalik Buterin and Justin tron favouring that proposal. If those funds needed are seized by authorities to compensate users or maybe some donations puring in, they could be made partially whole. I can not see the future however. We will see. Even the LFG plans to compensate small UST users (which is just a lie and not possible with 80 million)

Above is not an investment advice.


@cryptoaddictchie Actually that proposal does include exchange users as well. It is hidden in the comments of the proposal somewhere.


Small note:
There would actually be a scenario where people would buy UST. That could be the case for those who did hold at a snapshot date before depeg and panic sold.
If the price of UST is smaller than the compensation it would still make sense to buy it. However until we know if and how much someone gets as a compensation is a long way to go.

I'm more confident for BUSD than USDT which according to it has also broken out of the $1 stable line, so the UST leverage has added to the bad list of stable coins because they shouldn't make the coin stable if they don't have the funds to maintain stability from any leverage.

No one can predict many say it will not recover and some say it will not recover it's just an assumption it's not necessarily true but what is certain is that if there is the latest info from ust coin development then it will most likely recover.

I did read fatman proposal but consider about the LFG reserved that still left in the wallet and is it possible to do this? I think that it's not even possible. LFG has only small reserved funds for now. Refunding even when fatman called that as small users are not possible anymore with these funds.
Bitcoin already gone to bought UST and LUNA. The current buyers of LUNA and UST will be also complaining about this too. ]

This is a very hard time to decide which way that will be used to fix this problem, this is the fault of foundation. People have been expecting the fatman proposal to be accepted before LFG become transparent and told public about the truth of fund left on its hotwallet.

Now you just have to answer from where the foundation is going to get all the US dollars. They still have some BTC, at least if you look at the known addresses. But these should not be enough, because they have already liquidated many BTC. The only possibility I see is that Bitcoin will rise sharply in a short time. But I think that is unlikely at the moment.

I wrote about it. The 80 million is just what they are claiming is left. We do not know how much is really sitting on exchanges or in their pockets. There are also numbers from fatman of hundreds of millions syphoned out every month.
I do not believe any word they are saying. They kept quiet over days and were playing games.
With that magnitude there will be investigations what happened with the BTC reserve and if it was legal to use it that way, leaving 99 percent of holders with 2 percent of funds. With bullshit messages to cling on to UST.


The highest chance to get some funds back is legal action i guess. I will see what happens, what are the risk and chances and cost of a lawsuit if neccessary. For that we have to wait i guess until investigations shows how much of the btc reserve he did pocketed into his pocket.  Do Kwon is a narccicist. He is just playing games with its users. Check you Fatmans Discord by the way. If i would be a scammer i would just put out fake numbers to distract the people.
Maybe they are attacked even themself. Who knows. There was some analysis claiming that they even gained 10k BTC and holding 90k BTC (might just be fake, but also possible if Do Kwon was the attacker himself)

All looks so scammy and shady.

Some money might come even from big players as a donation to reduce reputational damage or avoid lengthy lawsuit. Just hope i guess, but nothing more to loose.

Binance CZ however has already tweetet that small ust wallets should be make whole first and that he would pressure terra to release the funds and that binance will get compensated last or not at all.


Also they  were supposed to buy ust to hold the peg. They claimed that they sold over 800+ million UST against LUNA. That does not make sense at all. It makes even less sense considering that the price of luna goes exponentially down and they know the math better than we do. By the way, they could have bought that 224 million LUNA for just 30k usd... .


Also why did they not buy UST at 10 cents. Than the peg could have been easily restored with just a tiny fraction of the BTC reserve.

Many factors make this coin more and more invaluable, even many people will very easily leave them, this kind of coin is difficult to develop after yesterday's big correction, even the selling price at that time was smaller than the buy price, the stability of the coin can be guaranteed otherwise there was a rapid price drop like luna, because Luna didn't manage to keep it, then they should try to think of making a new coin as a replacement

From Fatman Twitter:

As of right now there are three separate things going on for UST holders:

1. A small refund from LFG
2. A token airdrop for the new LUNA (weighted in favour of new UST buyers at a 2:1 ratio)
3. Potential legal action seeking full restitution, more info on this coming (1/2)

All of these plans are mostly unrelated and are happening at once. Getting the LFG refund may not stop you from being a part of the legal action. Getting LUNA tokens does not reverse the LFG refund. I know it's a little hard to follow, so thanks for bearing with me. (2/2)

It turns out it's just a scam. Perhaps even the developers knew that this could happen, or were even involved in the incident themselves. In any case, a lot of people have suffered huge losses and will never be able to get back what they have lost. It is now very easy to distribute new tokens to the victims and ask for forgiveness. This incident showed that cryptocurrency is not insured and in a bad case you can lose everything and no one will compensate you.

Someone made an analysis and claims that the bitcoin reserve is sitting on that address: 3M219KR5vEneNb47ewrPfWyb5jQ2DjxRP6


There are indeed over 90k BTC there.
When i look at the richest adresses it says Binance cold wallet.


https://www.reddit.com/r/terraluna/comments/us4v5m/the_rabbithole_that_lead_to_do_kwons_missing/


Have no idea if the analysis is true however. Take it with a grain of salt.

https://bitinfocharts.com/de/bitcoin/address/3M219KR5vEneNb47ewrPfWyb5jQ2DjxRP6

Maybe someone of the more experienced members can say if that is nonsense or could be real. Those latest  transaction are  from 10.05 to 12.05 are important where 25k btc and 40k btc entered or left

Well, I couldn't just draw a conclusion that UDT won't recover anymore but yeah, because of the losing sentiment that many people had experienced, most likely these stablecoins will gain no support and trust. People had lost confidence in them, in fact, Luna is a big example and has a strong conviction that these stablecoins had nothing to do with us investors and users, they just tricked us in front.

That even before, I have no trust in them, I couldn't even get profit from them anyway. So I guess everyone had opened their eyes and accept the truth that these stablecoins, this USDT had only a slim chance to survive.

If we look at the current decline then do not expect the recovery will occur in a short time, and do not try to invest in ust at this time because the risk is very large if later the eraser will be done by a large exchange that is currently very disappointed with the project, although this must be a big consideration but we do not know what they will do later, If you don't want to be the next victim then don't try to join the project at this time.

I think it's now impossible for Ust to recover. Luna team worked hard and use all BTC,Avax fund to stable this but selling pressure was high and now it's become totally Useless stable coin and no one want to risk again in this coin. My personal recommendations is that stay away from this and use Dai and Usdc

for now, of course not. and it will be difficult. developers will be doing it for a long time. and the first thing to do is to make their investors trust. many are already disappointed, especially with the very painful decline. this error must be paid very dearly by the developer. if they were serious it would take quite a while.

Forget those bitcoins. Luna developers and do kwon interested to issue the new token through forking the blockchain instead of doing burn or something else. I don't know how many conversion rate that will be used by the developers but i have very bad feeling about that.
More parties are taking legal action against do kwon.

This will become a very long drama. Do you agree with the fork that will be done by luna?

LUNA foundation not working or trying to manage the price of UST, they took measures when UST was de-pegged but they are failed to stable UST at the price of $1 so you can't hope that UST will be recovered.

https://station.terra.money/proposal/1623
There are 7 days left until the end of the voting, if the decision is made, then UST has no chance of growth.
Many more validators haven't voted yet, but there should be some interesting speculation on the price of UST in these 7 days.

yeah it just become more or less another shitcoin with no underlying value at all, the current valuation fluctuates a lot that it could literally be considered a shitcoin at this point.
I doubt the LFG gonna be spending their already liquidated asset for reimbursing anyone that are losing their investment in this stablecoin.
after all the LFG has quite literally drained their reserve fund for preventing the UST fall. basically the LFG just want to ditch the current LUNA and create newer one to start over, nothing more.

I think that Ust will recover for sure! but Luna will not recover in the nearest future or ever, now very strange situation in all market!

Yes in long term but now ithink not. The dev is plan to release new token hard fork. Do you think people are still trust the team? So many investors lost money. Ithink ust recovered is 50/50 for me

No. I not believe anything those scammers say or do. They are just playing with their users to gain more or mostly just to distract  from their criminality. Also it seems Do Kwon has fun to rally Luna holders against UST holders. The proposal is shit. It even favours UST holders who bought for 10 cents after the attack than those who did hold over months or years and bougt for 1 USD... . Pure Scam.

They left 80 million out of 3,9 billion for 99 percent of its users. That should say enough.


There are so many disgusting news coming out. https://twitter.com/FatManTerra

Yeah i just watched fatman's tweet and it's full with so many parties in the various countries are starting to take legal action against do. Will we see interpol to join in this case as well?

Im also disagreed with the proposal but so many people are being fooled by by do. in the first vote majority of people and holders have been voting no for the proposal but do didn't feel good with it and he was doing another shady thing like changing the mechanism. That's only holders that can vote and voting power also based on how much luna owner by voters.

This is actually unfair.

https://station.terra.money/proposal/1188
Another suggestion to restore the UST price. But there is very little chance that it will be accepted.
It is likely that this proposal will be accepted:
https://station.terra.money/proposal/1623
And then the price of UST will fall sharply.

If the team wants to revive the project then there is no reason the project will re-develop but all that takes a process because many investors are disappointed with UST and they have suffered many losses, and I believe when the recovery occurs then investors start to doubt the coin and they will definitely look for a more convincing project and do not want to experience the same thing again and also they do not want to spend time with the coin Projects that have fallen.

Correct me if I’m wrong, but I don’t think UST will become relevant anymore. It won’t survive for long, and it may even cease to exist in the near future if LUNA keeps falling down. Even the proposed LUNA fork by Do Kwon won’t guarantee that it would mark the biggest comeback of LUNA.

It gets much worse for me to be honest because if everyone buys LUNA because of the airdrop snapshot, then when it distributes and enters the market both LUNA, UST and the newly-forked LUNA will both go down as traders start to dump it as it’s free money. Just my opinion.

Seems impossible, pegged token is deppeged now as the pool curve got skewed when the team withdrew money from it, high selling pressure effected its stability thus peg goes down in trying of making ust stable they sold their btc reserve to add money in curve pool but their selling causes the market to move down more as they sold 80k btc, due to which btc dominance decreases,

I guess users will throw it away after the snapshot is done because the old luna token is no longer meaningful to the holder, I think the token is worth using for short term profit before the snapshot, I might doubt whether binance will support the fork proposal or not as CZ seems to reject the proposal.

When it was 60+ cents or so and the team still worked on making it a possibility, I understood it. However, when we are talking about 12 cents now it's clear to me that it is not going to be doing anything good at all. We are going to end up with something much worse.

So, I would like to hope that maybe crypto would not end being bad, because it was after Luna situation, but UST/LUNA both will be bad and stay bad. This is something that I really hope gets better, and I would love to see both recover, but I just have absolutely no hope for it to happen at all. I believe that people will end up with nothing at all in the long run.

The fact that they even dare to try a new start after such a disaster is quite crass. But the trust in the project is gone for good, so I can't imagine that the "new" Luna will be successful in the long run.

Nope. I may accept the luna crush cause its not a new thing that, altcoins can scam. But i wonder and can't believe my eyes when i saw a stable coin Ust dump 90℅. I thought It'll be recovery cause stablecoin can't dump! But affer an analysis, i got that luna ust Isn't work like others stablecoin. It is dead with luna and there's no hope that can let it back. It's better to move on if you are a holder of ust

Usdt is not the way to determine the valueof a real stable coin. The Usdt stable coin is determined by many factoros.
When you bet on a stable coin in the actual position then you are in a so much risk position from a technical position. A st

I'm sure there gonna be always some  betters that think LUNA will start anew and become just as successful basically stimulating the LUNA market in the future but that's not gonna lasts for long.
as you've said, the trust in LUNA has long gone, so many has become the victims, the founder is facing lawsuit, I think the new version of LUNA will also be such a disappointment and gonna plummet so hard in term of value.
we aren't lacking any similar cryptocurrencies like LUNA, just mention a few, matic and solana just as good as LUNA before the disastrous event happened.

Nah, they've been exposed who in their right mind would deal with them again?  Pegged coins are open to attacked lime these I'd be weary to be sitting in any pegged coin right now.  Never made sense to me to begin with now I know why lol.

How do you protect UST? How do you recover UST where a stable coin 0 can come.People have now lost all faith in this UST. Now people have moved away from this UST. They will no longer invest in this UST. This UST platform has thrown people into a lot of destruction.

If there's recovery happen with this for sure it will take a lot of time before this things happen because first as you said investors already lost their confidence on LUNA and for sure those people who get liquidated for what happen on that project will never invest any cents on them because they afraid to suffer the same scenario again. Also maybe its good to follow what their devs do because if they fail to provide concrete action towards this issue then maybe we can see UST fail to recover.

The success and failure of any project in cryptocurrency depends on the investors. I think fall in UST has had a kind of negative impact on investors. As a result, it cannot be easily recovered as a stable coin. But everything depends on the team. If the team is honest and financially prosperous then there is a possibility of taking it back but it is impracticable. Naturally they will try to move on with their Luna coins.

In fact, stable coins are always dedicated to the same value as fiat USD, so I was surprised and surprised when I saw the price of stable coins like UST was far from the actual value of USD. So it is very natural that nowadays many people switch to other stable coins that have proven to be better and now UST is no longer worthy of being called a stable coin.

I think they plan to do a 2.0 of their project, right? I know that UST is not backed by anything but Luna is with BTC, but it's not enough. With everything that's happening, like the minting of Luna before May 14 and attempting to have Luna 2.0 be distributed to those holding Luna pre-crash, to the UST holders, etc., it's not going to be enough, I think.

What I'm concerned about is what the people who have put their trust in Terra will do if they don't have any reconciliation or something.

---

Until now, there's no more votes on this one. It would be highly unlikely that this will be accepted. This was submitted 11 days ago already.

So this is it right?

https://agora.terra.money/t/terra-ecosystem-revival-plan-2-amended/18498

Looks familiar in terms of the plans indicated on the station.

This may happen because the project team is trying to fix the existing problems, but it all takes time and I think it will take a very long time because the value is currently very low, in fact UST is a stable coin that has long been the full confidence of investors but due to the LUNA project, UST is also badly affected at this time, recovery is being done hopefully will return to the highest value.

because in the past UST also had a collaboration with tera luna so that when a problem occurred with tera luna, it would be fatal for UST as well.
We hope that there will be good developments with UST so that everything will be fine again and the price of UST has also started to recover and is expensive again.

but it becomes a serious risk when ust slumps like today to return to its original condition if we want to invest. very risky to put most of our capital in it. but if you use a little capital, I don't think it will be a problem, who knows the condition can recover and we become new rich people. even though the devs are trying to fix it, it feels like it will take time to restore the condition to its original state, especially during the current bearish season

This was a big deal in our history. Top 10 coin LUNA and its stabile coin UST want through a death spiral and crush devastatingly.
Unfortunately, the UST stabile coin is gone and not coming back but there is small hope for LUNA.
LUNA is a blockchain that has a lot of good projects on it and users are still interested in them.
Not every project is gona work out but there is hope for some of them. If those projects going to succeed LUND can have a use case as a coin which is used for transaction fees on its blockchain instead of UST

Projects and the community have left Luna and are moving to blockchains like NEAR, BNB chain, and Candlelabsdotorg. These chains are providing airdrops, bounties, and grants for developers.

Right now it is very difficult to say ust will recover because the price has dropped drastically even if it will recover it will take a long time to get back up yesterday i read that luna will launch a new coin but it's just a waste in my opinion do you agree with me?

Having two competing chains LUNA classic and LUNA v2 makes it even more difficult.
Besides the fact that Do Kwon is a criminal and no one trusts him. He sold the BTC reserve OTC instead of defending the peg. He even sold more than 800 million UST to buy LUNA.

UST is not even considered to be part of the new LUNA V2 anymore. We can not count on Do Kwon or the terra team.
Especially after the tweet "UST is more than Luna"...


For new buyers they definitely should stay away.


For pre depeg holders: I personally hold on to UST. Not because i think it repegs. More for legal reason because i simply just not know if selling is the right move.
There are tons of class actions going on. They are free for the victims, but laywers get a big percentage if they win. If the laywers loose, they have to pay the cost by themself.
Joining legal action does not cost anything for those contigency based. We can only win by it.


Check out Fatmans Discord server for legal companies joining. They have 3 big companies, one called Roche in the US. Others will be revealed later i think.

Fatmans Discord Server for UST victims:
https://discord.gg/k3DPgn9ds6

The fact that Luna will release a new version and no ust will be minted from the new version, this is the end for just. Luna and ust failed, I think Luna v2 will be Dokwon's next death. Don't catch the bottom with these 2 shitcoins if you don't want to keep losing money with it.

Definitely not because it's de-pug too badly and in my view it's can't be recovered because according to Luna team ust is the main reason of Luna dump so in mind no one will be trust on ust and no one will invest his fund in ust after that kind of situation. So move on and stay away from ust if you didn't want your fund loss again

Impossible. Dev has tried his best for UST to recover, he even spent hundreds of thousands of bitcoin dollars for all bitcoins to ensure UST remains stable but can't make it return to all prices until the supply of LUNA and the LUNA-UST protocol is stopped and it has been abandoned by dev. They're about to start LUNA v2 but as for the fate of UST I think it will really disappear from existence.

Another reason is that even when the CEO of Terra tries to cover UST, people continue to lose faith in the project he owns. I think, it is very difficult to recover. it's a stable coin, and very prone to crashing again once it's recovered, in fact, I think people prefer to use other stable coins over UST. so far the price is still under $0.1, and it proves that this is a stable coin that failed.

What would they use as stablecoin in Luna v2?  I did read some users talking that they will be using USDT as reserve to peg their stablecoin. Is it confirmed?

They are about to start it, I am thinking of getting in even just worth alittle amount grabbing 100K LUNA for the snap. If the price of v2 will be like $1, that's a very good profit. Its the possibility of it going to a $ will be doubted by many of the speculator.

If you still believe that this project will come back, it is better that you provide your faith in something truly decentralized like Bitcoin because the centrality offered by this project says that it will not come back unless many investors put their money in it, and after this failure there is no reason to deposit money with them .



According to the last I read, they will get rid of the concept of stablecoins, and then it will be only Luna coin (OLD LUNA and HardFork LUNA CLASSIC) with an attempt to pump the price to restore trust, in other words they admit the failure of their software.

Maybe we should talk about LUNA getting recovered first before UST, because as far as I know, there's no UST without LUNA. However, it's good to have the LUNA 2.0 here.. Let's see how it turns out.

It's impossible. UST can never be recovered. When a stable coin moves to such a position, it is not possible for anyone to recover it.No matter how hard the team tries, it won't work. There was a time when they corrected their mistakes but they could not.Tera Luna UST is theirs today for their mistake

yeah even it seems UST is like an abandone altcoin, the value has fallen so low that it's just waste of money recovering it back, honestly anyone should just ditch this one and move with better similar coin like USDT, USDC and anything that's not algorithmic stablecoins.
Frankly, I doubt it could even recover back to $0.2 let alone back to $1 again because simply put most of us has lost trust in this coin and surely not gonna repeat the same mistake again.
after all, there are many alternatives for our investment, and some of them are backed by real money.

I guess it won't recover anymore as the "LOYAL INVESTORS" of Luna who got rekt and liquidated have already left this coin, some committed suicide. Just remember what happened to Bitconnect if this coin will comeback no one will surely invest to this shitcoin. So i guess the reliable stable coin as for now is BUSD or better leave the crypto space for now withdraw your asset and wait for BTC to start bull run.

Recovery is definitely possible but it will take time especially after the Terra (LUNA) incident. Like other investments, the future of UST is uncertain and no one knows how it will turn out and maybe UST isn't over until it's finished. But I think it's a good bet, even now, for last a long time at UST.

Ust is minted from luna burning so how to recover when old luna token has been removed from exchanges and replaced by new luna token and the new luna has nothing to do with just. There are so many value tokens worth investing out there, why can't we just buy them. really ust is dead and nothing can be salvaged.

there is no chance to recover for a stable coin which is 0.05 rn

Indeed, many people have not been able to wake up from the Luna incident, many are still full of hope that UST will return to normal. but we have to think logically, it seems difficult to recover to its original condition. but if we still have faith, I think don't use your full capital to invest in it, because the risk is high. indeed there are many other coins that are worth making a profit. don't be too optimistic with our expectations, but we must learn to understand the market's desires

I would guess that if you are getting anything from the snap then it's fine and sell it and move on. However, reality is that nothing will make it recover and it will always be a shitty thing and it will never recovering ever again. I believe that UST and Luna are fully gone and it will not recover. They can do all the snapshot, all the rollback, all the things they want to do and it will never recover because the idea is gone.

Coins itself could recover magically today, even in that situation it will go back down. When you lose peoples approval, there are no methods that you could comeback, there are just thousands of other coins they could invest, why care about Luna.

Only true believers of UST that will think if this has a chance to recovery. yeah the UST holders already recovered some through selling their new token from the luna airdrop. Im sure that some people able to recover at least less than 50% from their investment but yeah that's better rather than get nothing from their holding. The rest will become the true losers caused by they will not able to get the hardfork coin again.

Technically, when you see that a managed project does not have the principle of trust in terms of the project and its development, then what can be maintained for that matter.
I personally don't think there is a right way to save this coin even though it is indeed called a stable coin and there are still many who still hope that this will return to the way it was but this is something that is very difficult and even tends to be impossible to return

I think all coins that have strong fundamentals will recover when the crypto market returns to normal, but there is very little chance of a stable coin recovering below $0.05, but in crypto anything can happen, let's wait and see what happens with UST in the future, but I am very optimistic that the stable coin will increase again during the upcoming bullrun,

No way for now even you should forget ust. Do you know luna 2.0 live now but i don't think it will good happiness for old luna holders. There are many investors who are mad about luna and secondly they are not claiming. anyway if can manage some new investors of luna 2.0 successful launching then project can continue but not possible to recovery word.

No, and again no. Ppl loose a lot of money with UST, and im think they are so greedy to up the price for 1usd, every new high price will receive a lot of dump by ppl and hamster, one of them wanna return their investment other wanna be rich but nothing to do. Im think nothing can help ust to return.

Even lower now unless it has been pumped as I stopped tracking its price. I have lost my faith in stablecoins from here and I would rather keep my money in fiat and banks rather than in stablecoins because the growth possibility is zero while the loss is 100% as proved by UST.

There are rumours that even USDT is under the radar now for hackers and there might be some attacks on tether in the coming days.

Whether that's true or not I don't care but one thing is certain and that is - Stablecoins will never be the same again after what happened with ust. If any stablecoin I am going to use in future and that too for trading not savings, it will be either BUSD or USDC because they are both known exchanges and have some credibility.

Not at all. There is not even remote possibility of its recovery because Luna foundation has lost confidence of investors which is very important for any business to keep running. UST was based on algorithmic based mechanism which failed to work and  ultimately collapsed becuase it was not backed by Fiat currency.The lesson we learned from this crash is that any stable coin which is not fully supported by Fiat dollars or Euros is vulnerable to crash like UST.

I think at this point the only thing we can do is sell our v1 and v2 and move on to other chains like NEAR, Celo, and ICP. Those projects are aligned with Davos and the WEF and are proven to be legit.

In addition, currently the CEO of LUNA is focusing on developing LUNA 2.0 which is currently not even fully developed. even LUNA has become LUNC to distinguish the new and old Luna. It's very difficult for the CEO of a project to develop 2 different projects. While it is possible to repair the UST, it costs a lot of money. besides, instead of fixing it, the CEO of LUNA could develop UST 2.0 or something. however, there is currently no good sign of UST development at this time.

I don't see any possibility for UST to recover considering what happened was a very bad crash. My point is how does the development team come up with a strategy to get back investors' trust after what has happened?

Ust has become a shitcoin now, there is no need to expect it to return to its proper price because now ust has been abandoned by the developer. I feel lucky never to have held this pesky token.

True. The Luna crash was so fast and so huge that people could not even get chance to sell their holdings and lost their life savings and this incident triggered selling in all crypto projects so how can one expect that Luna projects will ever regain their value. It is better to invest in Bitcoin and Ethereum becuase their always not only breal their previous ATH but also make new ATH. History of crypto has proved it again and again.
 

There is no hope for UST to rise from the bad even for LUNC and LUNA, these three are not investment coins of choice and are not recommended, I will avoid those three coins because everyone has lost their entire life savings to the point that it has cost many investors, so no hope of recovery the price of the three coins and will likely be included on the list of sh*tcoins.

As much as there was hope for recovery, but seeing the current market, that hope has been exhausted.Many thought Luna 2.0 would be pumping a lot in the market after the hope that those who have been damaged will recover.But whenever the market started trading, the market started dumping and did not go up.And maybe the market won't grow and the UST won't recover.

TL;DR, sorry if someone has answered it already but I have a few reasons why I feel UST will never recover.

1- Do Kwon never gave any ideas about recovering UST apart from hollow tweets when it was dropping by saying they are busy implementing a plan. It was all rubbish.

2- They minted more and more Luna which shows they have no reserve left.

3- They created LUNA 2 but they have no plans for UST apart from just airdropping new tokens to the UST holders which doesn't compensate anywhere close to what people lost.

A stable coin which was $1, now become turns into less than cents, so how could it make sense to expecting recovery? It won't possible cause supply increase 1000 times more and people already left ust with rest of their money. Some people take risk for trading due to it is pumping and dumping like others shitcoins but wise people will not use it. Besides Team Doesn't sound to have any intention about ust process. So no chance ust will recover.

they literally just abandon the UST, and forked the LUNA thinking they could miraculously recover anyone from their loss from the classic luna, alas it has become such disappointment because even the new luna is getting corrected big time,
so there's basically no saving for the luna classic and the UST, it seems the LFG has ran out of the reserve too, because they have made mistake hastily trying to keep the value of UST around $1 but they couldn't even did that.

the total supply of LUNA clasic has grown drastically and the price of LUNA clasic is also under 0.00 at the moment, so it's no wonder that most people treat this coin like a meme coin. not being able to keep the UST price at $1 was the team's biggest mistake and for now I just hope the price of the new LUNA continues to rise and provide a big return to cover the losses in the LUNA classic.

There is very little chance for UST to recover given the current bearish scenario of crypto market which is causing flight of capital from crypto market, hence it is not conducive for early recovery. A well as Luna crash was so fast and so  huge that it has diminished hopes of an early recovery unless Luna foundation gets huge funding from big investors which is unlikely to happen . I think market will remain bearish for many months to come due to rising inflation all over the world.