is it possible UST recovered ?

[tyz]

is it possible UST recovered ?

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

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.

[bittick]

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.

[fzkto]

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.

[tygeade]

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.

Strongly support this. Coordinated sympathy and relief for the average UST smallholder who got told something dumb about "20% interest rates on the US dollar" by an influencer, personal responsibility and SFYL for the wealthy.

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.

You are a fair user after all . 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.

[Dervish doff]

is it possible UST recovered ?

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.

[TastyChillySauce00]

According to Do Kwon's statements, this stabelcoin is not expected to have a good ending.

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.

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.

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.

[topman21]

is it possible UST recovered ?

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.

[teramit]

no

[JeffBrad12]

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

[dansus021]

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

[Blowon]

is it possible UST recovered ?

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.

[dtpman83]

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

[cryptoaddictchie]

is it possible UST recovered ?

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.

[worle1bm]

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.

[fenican]

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.

[dtpman83]

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.

[TopT3ns]

is it possible UST recovered ?

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.

[perla]

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.

[dtpman83]

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.

[BlackBaron]

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.

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.