Bitcoin Forum

Finally Luna V2 News / Plan Reval

check here https://agora.terra.money/t/terra-ecosystem-revival-plan/8701

The Terra community must reconstitute the chain to preserve the community and the developer ecosystem.

Validators should reset the network ownership to 1B tokens, distributed among:

400M (40%) to Luna holders before the depegging event (last $1 tick before the depeg on Binance should be reasonable), bLuna, LunaX, and Luna held in contracts should also be recipients, minus the Terraform Labs account at terra1dp0taj85ruc299rkdvzp4z5pfg6z6swaed74e6. The new chain should be community-owned. Preserving decent ownership of the network in its strongest believers and builders is important.
400M (40%) to UST holders pro-rata at the time of the new network upgrade. UST holders need to be made whole as much as possible
100M (10%) to Luna holders at the final moment of the chain halt – last-minute marginal luna buyers should be compensated for their role in attempting to provide stability for the network
100M (10%) to the Community Pool to fund future development.
All Luna besides the third tranche should be staked at the network genesis state.
The network should incentivize its security with a reasonable inflation rate, say 7%, as fees will no longer be enough to pay for security without the swap fees.

what do you think really works?

Time will tell.

Laying out strategies is good but I don't think the people who got caught bag holding really care whatever the Terra team is planning to do right now. They just want to get out with as little loss as possible. The trust is already broken among the old investors and it would probably take another bullrun before it goes back to its previous price.

I agree that only time well tell on what will happen in the future. I also think that if terra team will do that plan then those people who wanted to get out with as little loss as much as possible or as much as they can will be very happy. I wonder if the plan will work with terra team and continue making people believe in it and they don't lose their investors in their company. My guess is they will lose some of their investors if the price doesn't go back to it's previous price or close as the previous price.

I think that this plan has already changed many times. Terra and UST are actively trading on Binance, deposits and withdrawals work very quickly. Terra has already risen in price by 500%. But you don't have to be naive. There are huge losses in the ecosystem and no one will recover the losses of hodlers at their own expense.

It's still, a very long way to go before holders, those who did not sell or are late to sell to cut their losses, to regain their losses but the most important thing is getting back the trust of the community, $0.0003822 / 1027.64% as of this writing it's in a speculative state right now we will see in the coming weeks if the phase continues, Do Kwon needs to assure the community that they are serious in getting their trust, this is the first time it happens in the industry and it will have an impact on how investors will decide on how and where to invest.

won't, so forget it. some time ago CZ wrote a tweet, he said fork(lunav2) will not solve the problem and make him recover. how can they restore investor confidence with just a new coin that has no value in the first place. terra already had no chance to recover. everything written by the terra developer is only sweet words and is difficult to materialize.

I advise people who are thinking to buy Luna in the hope that it will recover its price or even nearer it, to forget it and just move on, it's a different crash we've seen it never happen before if ever it's going to be a hard climb, all we know now is the team does not have a plan for something like this their mechanism is not perfect, so better check all the other coins or stable coins you're holding if a similar issue will happen in the future.

Believe me with such mechanism and it will be only making another people being deceived. From that proposal and we know that the new token will not be distributed to the current holders of luna and think that so many people will be also in a big lost. There's no good way to recover it again. The price already dumped so hard and this will never go to the a few dollars again. This is impossible to happen for sure. I think anyone aware about this except the blindly supporters of luna

I know a lot of people who went bankrupt and broke down because of investing in Luna but it's best to forget about it and stop hoping with Do Kwon's lies. He's just trying to appease the community with sweet words that he knows can't be done. There are still a lot of valuable coins in the market to invest in, as long as we are determined and try, I believe everyone will soon overcome and regain what was lost.

Now everything is confusing. How can newly created coins be valuable? It has not been tested yet thus, how can Do Kwon knows that it is an appropriate compensation? I believe that real USD or other well-known cryptocurrency is better compensation and investors are free to swap to the new coin

I know that the team is trying their best to save what is left of the Terra system but after such events, many many investors will definitely abandon Luna. So how can development proceed if there are only a few investors left? Terra is one of the biggest flaws in the cryptocurrency world.

     The plans are quite good but I'm not going to be over optimistic yet. At least not until I see some good progress and results. I don't even care if I get left behind and won't get to gain as much profits as early investors. What I'm after are profits and it doesn't matter whether big or small as long as profits are there. Although, I am not like this on every asset I buy it's just that I lost trust on this altcoin already which is why I am being extra cautious than usual.

Most of the investors who where able or have the nerves to buy the bottom while many people thought it was a crazy idea made huge profit within a day. so many members where not in agreement with the proposal made by Do kwon so @op i don't think this is the final decision of the terra luna community perhaps there will be a unanimous proposal that will work if ever there will be saving the project.

This will not work, it will basically be just a way for the team to make some more money and I do not see it going any other way. I get that they are trying to find a solution to the current situation but at the same time if they are doing something that will hurt the public and not picked up by anyone then what they are doing is printing even more money with the hopes that it will worth something so that they could sell it.

They did a project, it recently failed, move on. If they get stuck to it and end up somehow do it and people show even a slight bit of interest then I am pretty sure that it is not going to be ending in any good way at all, it will probably not be that great.

As long as there’s a plan I think its good, this might be their first step to try the recovery and of course wont be the last so let’s give them a chance and hope for the best. I bought at a cheaper price, I’m not expecting that much and I just need to wait for the execution of the plan and whatever the result is, I will hold for now.

Only time can prove the validity of the claims of the project owners who want to save the maximum that can be saved, but this is subject to two basic rules:
- The project has completely lost its credibility and the work team behind it, and therefore the supporters of the new token are often those who have incurred losses in the hope of recovering even a small part of their lost savings.
- The project team, or more precisely the decision-makers, will undoubtedly try to evade the tracking penalties, and this may be one of the attempts that seems to be supported by the Binance platform, which in turn is the owner of the Binance platform.

That's true even if its too impossible to recover the whole project they should still try it because they believe on that system in the first place and I hope this one will work but we don't know if this can attract new investors or not. I'm not holding that much of LUNA, I just try to ride with the hype for just $20 because who knows, LUNA might get back to a $1 value and if that happens for sure I made a lot of profit from that so I will support every revival plan of this project.  :D

This proposal has not finalized yet and it seems like majority of luna holders didn't even agreed with such proposal. It's a shady proposal by airdropping the new token by cutting the old tokens caused by the hyper inflation. This can be done only for small case but this is a big case.
Bunch of new buyers will get the new token? im sure they will be dumping their new tokens once they get it. Just waiting more and more drama to come soon. Im interesting to watch this.

this revival plan just gonna make another shitcoin v2 it’s basically the same thing just different altcoin holders, after all so many people have lost their fortune surely they won’t be bagging these luna v2 again if they truly care with their investment portfolio.
the thing that luna really requires as of today is billions of money for pegging their stablecoin otherwise any other means or effort of reviving their luna gonna be a waste of effort and just doing useless thing at least thats my 2 cents.

But for sure some organizations or groups will take advantage of this situation.
Even if LUNA has negative popularity right now, still we can say they caught the attention of the crypto community.
And remember, negative or bad publicity is still a publicity. So don't be surprise if some will create v2 without the participation of the original dev team.
In my opinion, no need to make a v2 because what exactly are their goals this time?

It's not the point, I don't know why they are thinking creating a new version will resolve the problem?. As we can see from another project before, when the team tries to make a new version, the project comes to fall the same as version 1. This strategy will make the negative thinking for Investor. They will feel the developer and team were leaving the old project, this means all money has gone to the new project without residue and can't make Luna come back to ATH.

from the start this solution was like a desperate plan. and everyone knows that this won't work to recover UST/luna. actually there is a better plan that is buyback and burn. but instead of using this method, LFG continues to increase the luna supply. from this we know that they do not have the funds. even if luna-ust v2 is released, they don't have backed to keep peg ust, and most likely crash will happen again.

The trust of crypto community is shaken badly on Terra luna management team and it will be very hard to restore it, no matter what revival & compensation plan they come up with. We all know that eventually  Luna coin will be worth less coin after launching of Luna 2.0 as announced by Luna founder Do Kwon but why it still remains listed and being traded  on many exchanges including Binance which raises question about credibility of these exchanges.

Not sure if this revival plan will work short or long term. Damage has been done already, a lot of investors lost their money and currently it is down 25% again. So there is no recovery but just completely giving false hope to their investors. So holders right now don't have a choice but to continue to hold and at least get even half of their investment. For newcomers, I will completely stir away from it.

Well, the new Terra takes a very different approach. this draws most of the points valid. I like the idea of being able to buy in Luna v2.0 and skip V1 completely but how to address the lack of available balance token supply, which results in the community not being able to make changes to the block that this action is supposed to do.

This is not the final plan since Terra will release updated plan any moment from now. Do Kwon greedy proposal is will not gonna revive Luna since it will many small time holders in the process and only save the whale investors that already profited a lot on Anchor ponzi APY for a long time. Those allocation how he prioritize Old whale holders rather than save the whole Luna holders that become a victim on his foolish emergency plan of letting the UST pump by minting unlimited Luna tokens.  Even Vitalik and CZ don't agree on this proposal and surely Luna will dump hard more when this plan commence because whale will just exit due to loss of trust on this ponzi. No one will buy again if they abandoned those small traders that bought during the attack to save Luna.

This is correct. I think it would recover if they would think of the best recovery plan that will also help those who bought during the attack and small investors and the only problem is the funds. A lot of users are proposing on their website (https://agora.terra.money/c/governance/13) and I think more people are agreeing with the recovery plan of Do Kwon.

And, it would take months for them to finalize their plan, for me, they should follow the advice of CZ of Binance on burning the minted Luna not to create a fork.

Exactly. Value isn't made without people believing it has value. Without backing this up and by buying back the tokens, there's no trust and without trust there are no one buying this.

It doesn't help his case that Do Kwon was being arrogant and in the twitter in the past when people were pointing out this weakness that just played out.

Step one. Conjure free magic money out of nothing and call it a stablecoin.
Step two. Conjure up second free magic money out of nothing and call it a stabilizer coin for your stablecoin.
Step three. Conjure up third free magic money out of nothing and call it a revival plan for ownership and governance.

You want me to go on? ;)

Well said. Investors confidence determines the value of product. Luna foundation has massively lost the confidence of its investors but will it ever be able to win it back, totally depends on the wisdom,capabilities and commitment  of its management team to handle the crisis they are in. I believe  Do know is a courageous & committed person.Though his experiment of pegging stable coin with basket of crypto currencies failed and failures are part of life but he should continue doing new experiments with improved and reliable risk management strategies.

Even though people argue against this, especially crypto lovers, the fact is that anything in the crypto world has value because we said so. An apple has nutrition that you eat, or a computer has value as long as you use it, bitcoin is not like that because we just give it a value, it has been truth and it's fine that is not a bash on crypto at all because there are many things like that in the world.

It means if terra revival plan works, which it won't if you ask me, the only reason would be people willing to help it revive, nothing more. If people are not willing (which they aren't) then it will not be reviving anytime soon, it’s going to stay dead.

Today Terra team has announced Revival Plan-2 because previous was not approved by community. Community suggest to activate burning mechanism and reduce abundant supply of coins to stabilize its price.there are lot discussions/confusion about future of  Luna in the market and nobody can say with certainty what plan will be implemented .  Lets watch and wait until something is finalized to compensate Luna holders


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

In my opinion , I will say that this is not gonna work. They already loose the trust of people ,Whatever the reason behind of this. People will not gonna trust if they came back with another token or project. I think they should try to fix all the mistakes they made and get this coin back to its previous place, It could be done by burning coins or anything else .

Trust has been broken big time. There has been major errors on the terra teams part and Do Kwon himself with his attitude and past video interviews does not look good now. Still there are a lot of LUNAtics out there pledging their eterinty to luna lol. Unfortunatly i dont think the chain is fixable. There is no way to BURN luna tokens. Im not sure if or how it can really be fixed. It does not look good.

It won't be easy to regain trust of Investors as crash of Luna was so huge that it has massively  the whole crypto market and this unpleasant event put many families in serious financial crisis as they lost their life time savings. I think all  stable coins including USDT, BUSD and USDC look vulnerable now, any bad news about stable coins can cause repeat of UST like incident. Luna team is expected to announce their final plan today to compensate Luna investors. Do know has also been summoned by parliamentary committee in Korea.

https://cointelegraph.com/news/do-kwon-summoned-to-parliamentary-hearing-following-ust-and-luna-crash

This proposal gonna be rejected again. It's pretty similar with the first proposal that already rejected before, Mostly of holders of luna were voting no for this proposal. Majority of holders in demand for the refund proposal but this foundation has no money left on its wallet again.
This gonna be a long term drama while people wanna see their money back but the foundation is also confusing about the way to recover it.
All of bitcoin already sold to the market and we will not see again someone who will be dumping big bag of bitcoin. This gonna be a very interesting drama to be watched between the developers vs community in the proposal battle.

There is no mathematically possible way for them to gain those investors back. Could they do something that would be a low cap stuff? Maybe. But they will never get back to where they used to be. This was a coin that was in the top 10 for a while, and now they are nearly fully gone and I do not see them ever coming back.

With UST dropping and depegged, they are spending all of their money to buy and burn and keep it at 1 dollar pegged, which is a difficult thing to do but they are not succeeding neither, so they will always be the project that failed, and why would anyone trust them to succeed when all they provided so far is failure and loss of money for investors?