LUNA UST: HE'S FINALLY SPOKEN!!.. There's a Plan But….
As we speak right now, we have had an update from dokwan the man, the myth, the legend behind tara luna weve, been waiting to hear from him. We have just heard from him so were going to be breaking that down. Right now were also going to be going through the market and just going through everything that you need to know. If you dont know me already my names, connor and im, not a financial advisor im, just a random guy sitting in a random, pretty sweet hotel room right now talking about different ways to make money online without wasting any more of your time. Lets jump straight on to this video. Now, if we look at this the bubbles, we have a very nice green day today, luna down 99.4 again today, we got ust down 59 today very troubling stuff for these two but nice to see that the market has regained some power. Today now i was saying earlier on that i did think that today would be a good time to uh decide what you want to do not necessarily take profits. Thats something im going to be doing im going to be taking a little bit of profit off the table here, because i need to recoup my losses. If you dont know already, i was a very large holder for myself, not overall, but a large holder in ust, and i was hoping it would come back and yesterday when the market was capitulating and everyone was panic selling i managed to get out before it got Really bad, so i managed to get out of my ust position almost in its entirety.
Then, when i woke up in the morning in fact earlier today, i saw that ust was down significantly, so i actually bought back 50 percent of what i was holding for much much less than i actually sold it. For so, i managed to scrape back 50 of what i was holding just in case, the one out of 100 chance that they bring it back ill ill, have a possibility. You know whatever. It is right – and i might actually get out of that very soon, depending on how the market does now. Let me just caveat that, with this is 100, the most risky thing i could possibly do, and i expect this trade to go to absolute zero. So do not copy me: uh dont buy luna dont buy ust its fully a gambling plate. Alright, so just keep that in mind. Dont follow what im doing anyway right now, what i was saying, taking some profits from the market to protect our downside and all of that stuff terror. Ust right now i want to save the refresh. We can see 16 cents, some different exchanges say different things, but right now i think the average is between 10 cents and 12 cents on different uh exchanges, luna looking just absolutely terrible its basically, you know so far gone now: zero, zero, zero one. I think its down a hundred percent, since we last spoke here on the channel which was earlier um, i cant see how they bring it back from this honestly, i i have no idea how they bring it back from this now, just before we jump into the News, if you guys do want to make the best of any market situation right now, its super volatile ftx.
us is one of my favorite exchanges. Now on ftxus, there are over 6 million users who already trust this platform. They have super deep liquidity. They have really cheap transactions, some of the cheapest out there within the centralized networks, and also they have their own app. You can set up reoccurring, buys you can stay up with the latest news. You can do basically everything that you need to do in one place. Now, on top of that, they are also bringing in stocks. You can trade nfts without any any gas fees which is awesome and they do have their own ftx card, which is something that i like to see, because you can use that to actually cash out money into the real world in real time. You guys can follow the links down there in my description and if you do follow those links. Youre gon na get some sweet bonuses, so i suggest just following those links grab those bonuses make the best out of the situation that were in right now so jumping onto this update over here we have on the terror, money, terror, ecosystem revival, plan right here, dokwan There have been several community validator groups discussing launching a fork of the terror chain to make the ecosystem whole from the ustd pegging event. I wanted to offer my perspective on how this should be done. As of this time, there are several billion dollars worth of ust and the value of unit token has fallen to essentially zero, even if the peg was to eventually restore after the last marginal buyers and sellers have capitulated.
The holders of luna have so severely been liquidated and diluted that we will lack the ecosystem to build up from the ashes, while a decentralized economy does need decentralized money. Usd has lost so too much trust to its users to play that role. So what remains while ust has been a central narrative in the terrorist growth story over the last year, the terror ecosystem and its community is whats worth preserving. Weve built up one of the largest and most vibrant developer ecosystems in crypto, with some of the smartest minds in the world working on different products with the best ui and ux terra station has a large install base with over a million plus users across what i Must say the app itself is very good was very good. I used it a lot, although the distress and strong brand recognition and the name that almost everyone in the world will have heard about, i dont know if thats true, but of course they were around a 50 billion dollar market cap before this happened and ust was Around a 20 billion market cap, i think that was now on the note of a lot of people hearing about them im, pretty sure that this will go down as one of the biggest ponzi schemes thats collapsed in history. So do keep that in mind. Yes, the app was good. Terra station was good at the time its good to see him come out and say something, but if we head over to his twitter completely silent – and i know a lot of people follow him here on twitter.
So i feel like they should come out and say something its been five hours since the ust uh terra twitter, account actually said anything as well and i feel like they need to just keep people updated. There are still holders out there who are holding ust still. There are also holders of lunar out there, so people need to be updated. I think that its, i think, theyve done a terrible job of keeping uh the community updated. Now the hera community must reconstitute the chain to preserve the community and develop ecosystems. Validators should reset the network ownership to 1 billion tokens, distributed among 400 million to lunar holders before the de pegging event, 400 million to ust holders pro rata. That, at the time of the new network, upgrade ust holders need to be made whole as much as possible. 40. I dont quite understand whats happening here. What i kind of understand is that they may be giving ust holders this new coin. If they have this one billion tokens, they give us t holders 40 of the worth of what they were holding, maybe on anchor protocol or on terra station theres. No accurate understanding of what happens if you held it in a centralized exchange but 10 will go to luna holders at the final moment of the chain, halt and then 10 to the community pool to fund future development. Oh luna should be staked at the network. Genesis state the network should incentivize its security with a reasonable inflation rate, say seven percent, as fees will no longer be enough to pay for the security without the swap fees.
So theyre going to be getting rid of that uh huge um anchor protocol stable coin rate. It seems, but this is again just an idea. This is a plan now um this is being put to the community. I think is whats going on now the call to action: why does redistribution make sense? Ust holders need to own a large share of the network. They deserve to be compensated for tokens that they have been holding to the end. Terra needs a community to continue to grow and make its block space valuable again its a hard balance and no easy answers in redistributing value within the network, but value must be distributed to allow the ecosystem to survive in its current state. It will not now, of course, in its current state, hes, basically saying that its done right, so this is not great. I wouldnt say this is great, especially if youre holding your tokens on a centralized exchange. Now, the future of the terror network, the rallying cry for the terror community has always been a decentralized economy, needs decentralized money. This is an exciting vision and ust. Basically, hasnt been successful at this point, but the priority now should be to preserve this amazing ecosystem and to make as many users and builders as possible. Terra should first preserve its l1, and the community should gather to discuss decentralized money once the dust is settled. So, seemingly from there, he wants to preserve the lunar ecosystem, its essentially a competitor against ethereum, its an ecosystem with decentralized apps building on it, and essentially, what this line is saying is that he wants to put that first.
I hope the community can achieve a speedy consensus on how to revive the terror ecosystem ill always be here disappointing. You were tweeting out almost every day here, look at them just on the ninth and uh being quite arrogant on twitter and then, when the ish hit the fan, you were nowhere to be seen. So i dont know if its really fair – and i do think you should also change this to the master of the unstable coin. Now, while we are on his twitter here, what im saying about him tweeting all the time i think actually was part of the issue. Now it was a few weeks ago, or maybe even a few months ago, we first started to hear that he was going to be buying uh bitcoin for the treasury right 3.5 billion dollars worth of bitcoin for the treasury up to 10 billion. Now he actively said that on twitter and that, if this was a coordinated attack on the ecosystem, the bad actors knew exactly how much it was backed up by. They knew exactly how much there was 3.5 billion. Uh were in a down market, bitcoins gone down, so maybe its around two and a half billion, or just under three billion. They know thats how money its, how much money its going to take to actually shake the network. So by being so arrogant and cocky and saying everything on twitter, he actually opened up the ecosystem to attack thats.
My opinion anyway, but definitely something interesting to see here with that said guys. I do want to continue to bring you updates as they happen here with uh luna, and everything like that. Even when im uh traveling around, i will continue to bring you updates. I even brought my mic because people will win gym about the sort, the quality of the sound. So i completely understand trying to do my best here. If you did enjoy this video smash. The like button hit.