New LUNA vs. Classic LUNA

[tooken2]

Does anyone have good info on the new proposed LUNA vs. classic LUNA?

Whatever quantity you bought before the crash, when the total # of coins in circulation was 764M should be converted to New LUNA, 1 to 1.

Whatever you bought after the crash, when they started diluting the hell out of it by adding 6.7T more coins should be converted to Classic LUNA, 1 to 1.

Any thoughts?

[1714805192]

1714805192

[bitkanu]

Im not sure about that but since the proposal already released to the public and the distribution will be used the current total supply and i have heard someone mentioned if 1 millions luna will be getting around 14 - 15 new luna token. The main problem is the new people who bought at the bottom will be getting the new tokens and im sure that those whales who have bought at the peak price will be getting less and less. The maximum supply for the new luna was around 1 billion.
People will be getting small amounts of luna from the airdrop which have been getting so many complaints against it.

[Dave1]

Im not sure about that but since the proposal already released to the public and the distribution will be used the current total supply and i have heard someone mentioned if 1 millions luna will be getting around 14 - 15 new luna token. The main problem is the new people who bought at the bottom will be getting the new tokens and im sure that those whales who have bought at the peak price will be getting less and less. The maximum supply for the new luna was around 1 billion.
People will be getting small amounts of luna from the airdrop which have been getting so many complaints against it.

Yes, and whatever the setup or reconstruction of the New Luna, there will still be losers in here. And with the new Luna having around like 1 billion in token, I doubt that the price will go up because of the huge max supply. Nevertheless the plan might look good for others, instead of losing all their money, at least they have something to compensate themselves and should be happy to at least get back half of the money they lost in this debacle.

[makishart]

I think that it can be know easily. There was proposal that already mentioned about how many new luna will be available in the market. It's up to 1 billion. So comparing 1 billion vs trillions supply will not be come true. The ratio is not yet published but there are bunch of assumptions about that. We shall wait for the further update that will be coming soon. Just watch the do kwon tweet and there are so many speculations.
I think the calculation based on the ratio to be distributed to the community will be divided with 7 trillions total supply for now but remember it's only 25%. So many holders will get very small amounts of new token

[Dr.Osh]

I'm not sure that the ratio will be 1:1 because the current circulation is very large. however, this is only speculation I have. it's just, right now we need to wait for more accurate information, because the CEO of LUNA is still trying to fix this problem although it is very difficult to recover. however, I hope after this development, the assets of the holders return a few percent of what they owned.

[Ojengonggu]

Im not sure about that but since the proposal already released to the public and the distribution will be used the current total supply and i have heard someone mentioned if 1 millions luna will be getting around 14 - 15 new luna token. The main problem is the new people who bought at the bottom will be getting the new tokens and im sure that those whales who have bought at the peak price will be getting less and less. The maximum supply for the new luna was around 1 billion.
People will be getting small amounts of luna from the airdrop which have been getting so many complaints against it.

Yes, and whatever the setup or reconstruction of the New Luna, there will still be losers in here. And with the new Luna having around like 1 billion in token, I doubt that the price will go up because of the huge max supply. Nevertheless the plan might look good for others, instead of losing all their money, at least they have something to compensate themselves and should be happy to at least get back half of the money they lost in this debacle.

That's right instead of getting nothing at all, but with the return of half of their losses, they are already grateful.
However, there is new news that I read that luna will have its repair and even now luna has released as much as 3 billion US dollars or equivalent to Rp. 44 trillion in bitcoin to save back stablecoins that have been destroyed but whether this news is accurate or not I am also lacking  know.

[dansus021]

Is this official. Its like Ethereum vs Ethereum classic hard fork i dont know if this gonna be work smooth but i do believe that terra team need lot of money right now to do all of this

[yazher]

If I were you guys I will stay away from this hopeless project that is already doomed because of their nonsense development that has nothing to do with their roadmap. Sudden adjustment like this won't work and always there some people who suffer from this failure. They better not tolerate such acts because they just giving their investors some false hope which doesn't really make sense when they failed this new proposal once again.

[wheelz1200]

Does anyone have good info on the new proposed LUNA vs. classic LUNA?

Whatever quantity you bought before the crash, when the total # of coins in circulation was 764M should be converted to New LUNA, 1 to 1.

Whatever you bought after the crash, when they started diluting the hell out of it by adding 6.7T more coins should be converted to Classic LUNA, 1 to 1.

Any thoughts?

My thoughts on this is, it's rediculous.  It's a failed project period.  They tried, got exploited why would you go backwards.  Plenty of other "good" projects to lose your money in 😅.  Seriously it's mostly garbage so without looking old and new luna should be sent to the graveyard too.

[Blowon]

With this incident, I'm not sure the new LUNA will also be as successful as the previous LUNA, because some people must be traumatized, especially if they are beginners who invest in the currently damaged LUNA. Even if they made a new LUNA, it would likely be impossible to fully recover the previously made losses, but the lucky ones who bought at the lowest price at that time would get a new LUNA.

[fenican]

If that's seriously the plan of the creators, New Luna won't be worth shit.

I'd rather own BoobyButt420FartCoin. At least it's real and not some bullshit attempt to salvage someone's ill gained fortune.

https://etherscan.io/token/0xe3c8833e81852d49d800ee1b06f3de418c79b787

[BitcoinAccepted]

That was a good idea but what concerns me is that, how much will be the value of the new LUNA if the price is still the same as the old LUNA then what will be the difference? you are holding a new LUNA? What most of us wants is to get back all of our investment not to receive a coin that has the same value as the old one.

[fenican]

That was a good idea but what concerns me is that, how much will be the value of the new LUNA if the price is still the same as the old LUNA then what will be the difference? you are holding a new LUNA? What most of us wants is to get back all of our investment not to receive a coin that has the same value as the old one.

The only reason the old Luna was worth anything was the algorithmic relationship between it and UST which people *thought*, wrongly, was a valid stable coin. There were 7 billion or so imaginary dollars that people thought was tied in some way to LUNA. Once those dollars were exposed to be a sham, and UST worthless, all the value in LUNA was destroyed. It doesn't come back simply by creating a new shit coin that is a copy of the old block chain. No sir. No way. That value is gone. Only way it comes back would be if the original team manages to come up with enough cash to make everyone whole, and backs the new coin with that. I don't seen that happening. They have maybe, being generous, a couple cents on the dollar v/ where UST was capitalized. I dare say the whole thing was little more than a scam.

[makishart]

Is this official. Its like Ethereum vs Ethereum classic hard fork i dont know if this gonna be work smooth but i do believe that terra team need lot of money right now to do all of this

It's official and the proposal already published by luna developers since last a few days ago. I don't know but majority of holders are not having good impressions with the proposal. The luna developers team were doing shady things by creating the fork token and they are leaving from their responsibility to fix the problem in the old luna. Majority of people in the agora didn't even agree with the proposal that already published. I have been seeing that even the result of vote already removed as some people accused do kwon was doing another shady thing to the community. This problem will never be fixed

[aprilnot]

Does anyone have good info on the new proposed LUNA vs. classic LUNA?

The latest info I know is that the majority are against the new coin. And it's possible that the proposal will be rejected. After all, Do Kwon is in trouble in Korea, this week he was summoned to attend a parliamentary session. for now the government has only just heard an explanation from him, but it is possible that he will be prosecuted considering the many victims of this problem.

[sunsilk]

Cz said this won't do and help. And this new token means that new money will have to come in for those victims of the crash.

What a contingency plan from Do Kwon. He should just have retained the old one and focused on it. This forking is just another assurance that him and his team could make more money and at the same time, everyone is going to rush just for the sake of dumping it.

There is no longer trust and confidence in the Terra foundation.

[markko7]

If LUNA team proceed with new luna by left behind all investors who put money into this project after the crash then it`ll be financial fraud.

[bittick]

What a contingency plan from Do Kwon. He should just have retained the old one and focused on it. This forking is just another assurance that him and his team could make more money and at the same time, everyone is going to rush just for the sake of dumping it.

So many parties are starting to fill lawsuit against him. This scammer is still thinking a way to rob more money from the market and investors. Majority of investors have been voting no for the new proposal but the voting fully manipulated. Scammer was changing it based on the token owned.

There is no longer trust and confidence in the Terra foundation.

yeah and that's why the new token will have no value. People will not able to recover their lose other than dumping the new version of luna token to the ground

[coin-investor]

Is this official. Its like Ethereum vs Ethereum classic hard fork i dont know if this gonna be work smooth but i do believe that terra team need lot of money right now to do all of this

I don't think they have the money or they can put up money to sustain these New Luna and Classic Luna they have used all their Bitcoin reserves when they tried to save the huge crash.

But before implementing these plans let's see what will be the outcome of the parliamentary inquiry

Rep. Yoon Chang-Hyeon noted that Korean exchanges each reacted differently to the crash and he wanted to invite both Do Kwon and the exchanges involved to learn more details.
....We should bring related exchange officials, including Terra CEO Kwon Do to the National Assembly to hold a hearing on the cause of the situation and measures to protect investors.”

Do Kwon summoned to parliamentary hearing following UST and LUNA crash


We need to know the outcome because this is all about investors' protection and let's see if the plan will work for investors to regain what they've lost in the crash.

[zulfi125]

They will launch new LUNA soon and they will send new LUNA those hold LUNA before UST de-pegged and those were purchased after the price down of UST and LUNA they will not get anything, they will launch new LUNA with 1 billion supply and I hope will give 1:1 ratio and price can expect more than $50 to $100 because 1 billion supply will be vesting, 25% for community pool,5% Developers, 35% bound and unbound LUNA,10% LUNA holders and 25% UST holders. 10% will be unlocked on the genesis and 90% goes to vesting 1 year,2 years, and 4 years. so wait for their announcement.