is it possible UST recovered ?

[maartenhaha]

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.

[makishart]

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.

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.

[tyz]

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

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.

[dtpman83]

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.

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.

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.

[Devifajarina]

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.

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

[dtpman83]

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)

[fzkto]

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.

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.

[dtpman83]

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

[Questat]

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.

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.

[ringgo96]

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.

[spiker777]

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

[rozak]

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.

[bittick]

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

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?

[zulfi125]

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.

[zasad@]

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.

[WalkerIVIV]

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.

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.

[prosperoustop]

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!

[Grim149x]

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

[dtpman83]

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

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?

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

[bittick]

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

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?

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.