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MEXC is delighted to offer a special recovery plan dedicated to the LUNA community.

All users who participate in the recovery plan will share an additional 5,000 USDT worth of rewards. Details are as follows:

Extra Benefit: 500 lucky participants will be randomly selected to each receive a 10 USDT bonus or a 100 USDT LUNA USDT-M futures position.
Period: 2022-05-24 10:00 to 2022-05-30 10:00 (UTC)
Eligibility: Participants of the recovery plan who have not traded futures on MEXC before

Notes:

The rewards will be distributed within 7 days upon event conclusion.

Wow！I feel that mexc is getting stronger and stronger~~ :D

I think this is a good idea even though the current conditions are very concerned at least MEXC believes in the power of a strong and supportive community that respects each other and helps all rise together. MEXC knows that, if we all come together to pool our collective resources and talents, then we stand a better chance of success than if we act alone.

It seems like that MXC was a loyal supporters for luna although luna was worth zero. Basically this even already done by MXC to attract the volume and users from the major exchange sites that halt the trade in the past. That's why MXC was making future trade for luna with stable token pair available when binance was halting its future for luna in the past. I would not be surprised to see that small exchange sites are trying various ways to attract users to come in but this small even did nothing to the exchange site
Im actively using mxc.

I believe the community will vote yes to support the recovery plan from MEXC. However, that exchange is not big, not a tier 1 exchange. Trading volume is not big so their initiative to buy back and burn LUNA from their trading fee from only LUNA pairs would be not enough.

We need similar initiatives from other exchanges, especially from Tier 1 exchanges. At least there is effort and we can hope that there will be more and bigger initiatives from bigger exchanges.

So how authentic is this information? Is the op a member of the mexc team! Anyways, if this is true it a good gesture from mexc which shows someone is actually trying to help although I don't know what this offer will do or help the victims who have lost thousands of dollars, some lost their life savings in this situation.
Imo, if various exchanges really wants to support these victims they should unanimously come up with a good solution that will benefit everyone who losses in this difficult situation especially the ust guys, they are the biggest victim in this situation.

https://twitter.com/terra_money/status/1529451631263174656
The Terra community has voted for the new plan. Read the latest posts carefully. And check the information on how the exchanges will credit new coins if you have TERRA or UST on your balance.
https://decrypt.co/101323/terra-community-votes-approve-do-kwon-plans-revive-project

This suggestion is great however Terra Community already decided and already supported the update 2.0, so this attempt to help LUNA might be too late already. In the coming days, we will see those updates and I hope that it can be good for the whole holders. If LUNA is too confident about this up coming update, they must have a good reason why.

This is a good way to market their site unfortunately even if many will vote in favor to this suggestion, LUNA team already decided for their updates and recovery plan so this one will be useless. The intention of this is good and the idea is good as well, it’s just that LUNA developer is not listening to some good advices from other exchanges as well, they instead took risk with the fork.

People will still trust Do Kwon despite what has happened of course, this is for the sake of hoping they could get their money back. I do hope it will come a success but the benefit of the doubt still lies on him of what happened. I think MEXC just wan this opportunity to promote their own exchange, not bad but likely this is the norm in the marketing world.

one by one exchanges will support Luna recovery soon, maybe it will take long time and ofcourse they will see an update from Luna dev team itself or market changes. single exchange like Mexc not enough to push price recovery to $1 or more, retailer have no fund to bring it back. maybe if this action followed by another tier 1 exchanges and supported by whales investors, recovery progress could running faster.

Certainly, this is a marketing strategy from MEXC, to attract possible traders in their exchange.
LUNA is in the hot seat right now, and whatever they can do to ride the situation may get some interest especially to previously LUNA holders.
We have heard that Do Kwon have recovery plans, but to what extent of recovery he is aiming here?
This is yet to be seen, if in case the LUNA team can really do a good job to implement their new plans.
But I believe, most of these previously holders would be hesitant to put more money, maybe they will be aiming to at least get something out of it.

it's never too late if you want to help LUNA, but it's very difficult for LUNA to return to 1$ at this time, now what and why is LUNA looking for support again in mecx by seeing prices that are increasingly worthless and have harmed many people.
is this what made luna pump today or is it just a bot trick to get new investors again

Small reward giving for recovery Luna coin if only $5,000 and I think not all participant interested with higher risk investing on Luna coin. Maybe different if reward above $10,000 and usually on Binance event trading have reward above $85,000 each time trade competition, I think not really bigger reward event make trader not try to participant.

Yes, this information is correct, and I will put a source for you below
It is a good initiative from the Mexc exchange to reward the Luna community who lost a lot of money they invested, as I am not a member of this platform, but frankly, I did not find any of the other large exchange platforms that held a contest like this to compensate for some of the losses of the luna investors. I really thank the Mexc exchange team a lot for that and what they did is a great marketing idea that will bring a lot of people to register and trade on their platform.

SOURCE (https://support.mexc.com/hc/en-001/articles/6861162399897-MEXC-x-LUNA-Recovery-Plan-Vote-to-Win-5-000-USDT-Bonus-)

The plan for Tera Luna's recovery doesn't look like Luna will do much pumping. Various exchanges have not taken such steps. All the exchange side decisions at once to recover have to take.However, I think these people are being fooled. I don't think there will ever be a recovery.

It seems MEXC is a big supporter of LUNA, if this succeeds it will raise the name of the MEXC exchange, a good rarity to promote and develop the MEXC Exchange.

I thought that if the recovery plan already decided by the team. As far as i know if MXC was doing double recovery plan just like burning and it has already announced its recovery plan but it seems like this is only airdrop event from this exchange site. So, that's a bit confusing about what recovery plan? Some exchange sites already swap luna to the lunc and the new token will be coming next days. That's a small event by MXC. At least this exchange site was very loyal to the its users.
The major exchange sites already announced if they will be supporting the new swap as well.

I also think that they support Luna because those exchange or people is have huge bag hold of Luna they do this so that they can recover what possible losses they have at the moment, but lets also see if those contest and support will really help Luna to recover back on its situation these days. Because if Luna cannot bounce back then all those paper losses will be loss forever.

I believe that those holders would have second thoughts in this revival plan and maybe someone out there would be interested to either go out with small loss or have it at breakeven. Mind me, people will always have a good hope in it, though it's not a bad thing but I believe this wouldn't have to happen in the first place. I'd be grateful or those who still believe that they will grow once more, well, congratulations to them if they do.

Just 5000USDT and you feel like MXC is getting stronger? Binance exchange do this almost every month, their prize is even way bigger than this, one offer is running on binance exchange right now and the prize is over 1.2 million dollars.

This sounds interesting as I am already trading futures in Binance. But will we know that you are really an employee of MEXC. How we will know that you are telling the a legit campaign or you are just pretending an insider from MEXC and just want a referral link? Anyway I have an account MEXC.

This campaign from MEXC is a real campaign from them, a few days ago they announced it on their announcement page. You can visit the following link (https://support.mexc.com/hc/en-001/articles/6861162399897-MEXC-x-LUNA-Recovery-Plan-Vote-to-Win-5-000-USDT-Bonus-) to see this announcement information from them.

Incredibly, it seems that the Terra LUNA team still cares about their community and the people who have lost here, some big exchanges such as Binance and MEXC have rewarded by re-listing LUNA (maybe replaced by LUNA v2 in the future) and even MEXC to create events for recovery plans LUNA. I think in LUNA v2 it will probably be more than the previous LUNA with a new ecosystem that will fix the previous bugs.

Are you sure and believe with Terra Luna community still care with the holder? Be quit about tomorrow have rumor old terra luna coin replace with terra luna classic or new coin. I think good chance try with short position on future and you have chance get profit with bad rumor happening on Terra Luna coin. Maybe last chance tonight before tomorrow with Terra Luna coin replace by new coin and delist from future trading.

this honestly isn't a recovery plan instead it's just a ordinary giveaway, $5000 is a really small fraction compared to what all of those victims of luna has lost.
even $5000 was distributed among many people, if mexc really have partnership with LUNA in this giveaway then I could say that maybe LUNA has finally run out of their reserve in holding back UST and LUNA
because honestly $5000 shouldn't be called a recovery plan because it's not gonna recover anything.

MEXC is a medium exchange so with their medium trading volume, they can not help. Trading volume in Luna Classic on MEXC is not high so I appreciate their support and initiative for Luna (old) community but if only MEXC exchange has buy back and burn, it won't help Luna Classic to recover.

To recover from the hell, Luna Classic must get more support from exchanges but will exchanges do it?

Things will be good only if Terra successfully to rebuild Luna (new) and their team announce and actually use income from new Terra operations to buy back and burn Luna Classic.

It would be done by Terra team as biggest contributor to buy back and burn. Exchanges, validators can help but Terra team should be a leader in this campaign.

There is LUNC DAO has buy back and burn from staking reward of their validator but I don't know how long they (and MEXC) will do it?
https://twitter.com/LUNCDAO

This is a strategy to gain investor confidence that Luna really proves that Luna is still worth investing in, it all comes back to each individual.
In my opinion this strategy will not work because Luna's own credibility is already very bad in the eyes of old investors

I will There was no benefit of this recovery plan but MEXC will have some attraction. Already that luna has become lunc. And even then the Luna's Founder said there will be no improvement by burning. I think some people have more loss through this recovery plan

Of all the exchanges that have worked hard to recover Luna coins,MEXC Binance has many more.But in the end it left no option but to recover. Many thought that recovery might happen soon. But in the current situation, there is no hope for Luna to recover.Looking at Lunar's current condition, it looks like he will never recover