Luna holders will get new token.

[DVlog]

The community is deciding on a new @terra_money between restoring a snapshot prior to attack, removing TFL, fully collateralizing UST and drafting & deliberating new mechanisms for $LUNA.

We must salvage the remaining value in the ecosystem & community and rebuild the right way

https://twitter.com/stablechen/status/1525023238895837184?s=20&t=-1WYQPCBM04n8tee6cBwQQ

If they are really doing this that means luna holders from pre-attack will get new tokens but what about those who buy later on exchange. People lost money when prices were continuously declining too. They didn't tell their community not to buy before UST repeg in its standards. I also heard rumors that Do kown short his luna to recover the loss that he took by selling his BTC in losing which accelerated the process more.

Luna lose his credibility and all who took any loss should get compensation.

[mk4]

How is it "getting new tokens"? It's literally described that the proposal was a rollback to a certain snapshot.

If they are really doing this that means luna holders from pre-attack will get new tokens but what about those who buy later on exchange. People lost money when prices were continuously declining too.

I'm pretty sure the people who bought on exchanges would be fine with a rollback, as the coins they bought are pretty much zero already anyway lmao.

[LoyceMobile]

So someone created a shitcoin to get rich, someone (the same someone?) no doubt earned a lot of money, and now they're considering undoing the last few days so they can earn more profit again?
Who's going to lose money in this twice?

[tokeweed]

In before Luna Classic.  Lolol.

I've just recently been reading into this stuff and wow...  What a fking disaster.  I knew there was something missing at CMC's top 10.  And it was Luna from like 10 billion USD market cap down to under 10 million USD in a matter of days?  I thought I'd seen it all with Bitconnect. This is waaaaay worse because it was a top 10 project.  And the founder was kind of a douche bag if you back read his tweets...  Tweets which are now hilarious after the event.

[istiak2277]

So someone created a shitcoin to get rich, someone (the same someone?) no doubt earned a lot of money, and now they're considering undoing the last few days so they can earn more profit again?
Who's going to lose money in this twice?

People are crazy in crypto and i have realized that in last few days. This luna attack was in the spot light for last few days, but still there are people who brought luna even when it went under 1$. A token price came to 1$ to 100$ that is not normal for a matured investor, but it is for many crypto amature. You will see them in the comment section of Luna twitter Handle about their story of Luna.

[cabron]

So someone created a shitcoin to get rich, someone (the same someone?) no doubt earned a lot of money, and now they're considering undoing the last few days so they can earn more profit again?
Who's going to lose money in this twice?

People are crazy in crypto and i have realized that in last few days. This luna attack was in the spot light for last few days, but still there are people who brought luna even when it went under 1$. A token price came to 1$ to 100$ that is not normal for a matured investor, but it is for many crypto amature. You will see them in the comment section of Luna twitter Handle about their story of Luna.

Because it becomes normal in crypto seeing prices of shitcoins going from $more than $50 to $1 and in next few months it goes up a bit again.  Seem very hopeful for the Lunatics to expect its pump again. Not realizing that Luna will have to gain trust again before going up  and its the hardest to do now that we  learn Do  Kwon was also the developer of Basis Cash that was also the failed stablecoin.

If I was a holder, I will gladly receive those token but I'm not going to be hopeful about it.

[jackg]

All of their incompetence has done well to get coins delisted from exchanges so far...

If they are really doing this that means luna holders from pre-attack will get new tokens but what about those who buy later on exchange. People lost money when prices were continuously declining too.

I'm pretty sure the people who bought on exchanges would be fine with a rollback, as the coins they bought are pretty much zero already anyway lmao.

It does kinda seem like they'd be voting on theft though. UST was down less than 75% because of the attack, it dropped a further 50%+ because no recovery plan was actually created from what I can tell (we could arge the whole 86% was due to a bad recover plan and a very overconfident ceo).

I'm not too sure on how they operate but could this not make bridges and liquidity pools incur losses?

I'm not sure how much was on other chains but I saw wrapped ust tradable on uniswap?


Regardless of the rollback, I'm not sure luna can really recover from this point. If they took the current chain, found the $12bn+ to back up at least the ust that was owned then it'd be more possible for it to "feel" like a blip.

[death69]

Such an event with Luna has caused a lot of consequences in the cryptocurrency world. I do not dislike Luna at all but according to what I see, all of the saving or rollback efforts might lead to no result. I mean, if you are giving a new coin that is more valuable than your latest Luna or UST funds (which is around 0), would you choose to hold it?

And in trading, you must only trade the amount you afford to lose. It is your choice to trade Luna, go all or nothing in Luna 

[UserU]

I reckon they're more focused on restoring UST value than Luna itself.

[Mosharafhh]

But i dont think this will be too much benificial for all becasue luna got rekt and now anyone with this name will not trend in market because everyone still will in fear about those because of luna!! But in my opinion luna was a great project what happened with this project is just an accidents!!

[el kaka22]

As imagined, not only this is a wrong move, it is also not approved by anyone neither. Crypto can't be just taken back or do a rollback like nothing happened, something happened and there were many people who lost money during that period as well. All these new token ideas comes from the fact that creators want some more money, they will do a new one, hope that people will jump in, and they will take that money too.

There is a big chaos going on, even the smaller names inside the token lost a huge chunk of money, only one that earned anything from it is Do Kwon and that is why everyone is looking for a solution to it as quickly as possible.

[Moeda]

Luna lose his credibility and all who took any loss should get compensation.

Who should compensate the previous Luna coin holders? Developer? I don't think they can do that. It is they who undermine their own credibility. If we hold on for the long term, it also cannot boost the current losses. Investors have lost confidence in such projects. So, who's going to get prices back to normal?

[Kingairdrop]

The community is deciding on a new @terra_money between restoring a snapshot prior to attack, removing TFL, fully collateralizing UST and drafting & deliberating new mechanisms for $LUNA.

We must salvage the remaining value in the ecosystem & community and rebuild the right way

https://twitter.com/stablechen/status/1525023238895837184?s=20&t=-1WYQPCBM04n8tee6cBwQQ

If they are really doing this that means luna holders from pre-attack will get new tokens but what about those who buy later on exchange. People lost money when prices were continuously declining too. They didn't tell their community not to buy before UST repeg in its standards. I also heard rumors that Do kown short his luna to recover the loss that he took by selling his BTC in losing which accelerated the process more.

Luna lose his credibility and all who took any loss should get compensation.

I see no reason why investors after the attack should not be compensated. It's actually very sad that we had no idea what was going on behind the scenes (CEO shorting his own coin) of not we wouldn't have been a victim to LUNA crashing with our hard earned funds. I truly wish that we are factored into the compensation plans the LUNA team has.

[suzanne5223]

No doubt that Luna loses its credibility but I think crypto investors need to understand that choosing their gem based on hype, influencer recommendation, and dev team killer speech is never a good idea. Besides, if a project can barely survive since the year 2018 when it was developed and also in 2019 when its mainnet was officially launched.
Why would it do the magic now?
Did people trust the project because of BTC backed and accumulation, gosh investors need to wake up.

[ItsCrafty]

No doubt that Luna loses its credibility but I think crypto investors need to understand that choosing their gem based on hype, influencer recommendation, and dev team killer speech is never a good idea. Besides, if a project can barely survive since the year 2018 when it was developed and also in 2019 when its mainnet was officially launched.
Why would it do the magic now?
Did people trust the project because of BTC backed and accumulation, gosh investors need to wake up.

Everyone buying Luna haven’t done any research you see they keep adding coins and lowering the price this morning they had 700 millions coins in circulation now they’re up to 6.5 trillion and market cap is back to 40 billion instead of what it was this morning at 2 billion they are just stealing from us

[ryzaadit]

-snip-

DoKwon already know as toxic guy.

Other Altcoin Gank who are getting shit word by him now is laughing. BTW about this f*cking rollback, RIP for a people who right now still holding & have $LUNA at the time this disaster happened. They are not getting a new token + they can't even send or sell this shit token since all exchange blocked transaction + delisting from all exchange.

F for the victim.

[Outhue]

Ok we are definitely getting Luna Classic or Luna X this time around then, the team should just distribute free dollars in USDT to all holders and move on, it makes no sense for a project named LUNA to exist any longer in this crypto space.

[capedbaldy]

Everyone buying Luna haven’t done any research you see they keep adding coins and lowering the price this morning they had 700 millions coins in circulation now they’re up to 6.5 trillion and market cap is back to 40 billion instead of what it was this morning at 2 billion they are just stealing from us

The maximum supply factor is very influential on future price developments, so the team should have determined the maximum amount of supply from the start because the maximum supply factor will become a bad boomerang that can damage the project itself even though other parties do it indirectly.

[Fatunad]

In before Luna Classic.  Lolol.

I've just recently been reading into this stuff and wow...  What a fking disaster.  I knew there was something missing at CMC's top 10.  And it was Luna from like 10 billion USD market cap down to under 10 million USD in a matter of days?  I thought I'd seen it all with Bitconnect. This is waaaaay worse because it was a top 10 project.  And the founder was kind of a douche bag if you back read his tweets...  Tweets which are now hilarious after the event.

Never again if they would really be promising new token.For what? For sure they would be asking another  investment and also whom would trust on a certain project which does have a bad past?
There are even investors who had suicide because of this incident where its price dropped 100% which is something that you could really see to happen into this market.
Never again i would say if you had lost that much in Luna then why would be dealing again specially into its new token?

[tvplus006]

As imagined, not only this is a wrong move, it is also not approved by anyone neither. Crypto can't be just taken back or do a rollback like nothing happened, something happened and there were many people who lost money during that period as well...

Nevertheless, we have already seen such a successful example of blockchain rollback from Ethereum DAO in 2016. And in this case, the hard fork could restore confidence in the cryptocurrency as a whole and compensate for losses for Luna and UST holders.