A new Terra chain will be launched on May 27 and there is no algorithmic stablecoin. Do you think Terra 2.0 will be successful?
https://agora.terra.money/t/terra-ecosystem-revival-plan-2-amended/18498
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Going to be hard. The key is going to be whether anyone ever builds on it.
That is the problem with a lot of this stuff. They can monkey with the tokenomics all they want. Show me the applications. What reason is there to hold the coin other than speculation?
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I'm not very experienced with these matters but I was wondering if there would be a better solution.
The low total supply is pretty good, but why should people hold assets and why would new investors come in?
Frankly, it is a difficult process, but ultimately the decision of the community will be effective.
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There are at least 2 reasons to use the thing, and both are minimal at best:
As tools for DeFi or anything else, I can't say one way or the other.
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From what I know there won't be any stable.
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That is a very possible outcome. In that case, we need to make sure that HBD is the last one.
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I am more inclined towards the defi, since it would be a monument without utility, unless this terra 2 will be PoS and applications can be developed.
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With a ruined reputation and nothing to stand out, I agree with you. Why would an app choose the new Terra chain over an existing chain? I don't see any reason to.
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I think they should build something new, but not like this.
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Well, believe it or not, there will be applications developed there.
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Exactly!
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The problem is that people are fearful to even speculate on it...
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Well you are right, since the only motivation to have the token is to recover losses haha.
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Good points, I think the big three determinants of success are community, utility and dev activity. I think this community is mortally wounded. Part of it may survive, but what will be built on it and how many applications are leaving?
Will the last one out turn off the light?
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Well Do K firmly believes that this decision for a terra 2 would benefit the community that loves him so much, so it would be a matter of time.
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Sometimes bankruptcy is inevitable.
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I’m very much in the middle. There’s a lot of support for this and I know that terra lunatics are looking for a way to get some gains to recoup what they lost on TerraV1.
With that in mind, I believe that many will look to cash out their LUNA 2 and make a bag. Long-term belief has been ransacked but there will always be some core hodlers
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I was particularly surprised that the total supply was lower than I expected. At the end of one year, the total supply will be 182M.
The effort and support to resolve the issue is promising, but the behavior of investors will be very influential. Frankly, I am not sure if they can attract new investors. I'm in the middle too. It's a difficult process, but I hope they succeed.
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Hopefully this will be a lesson for everyone, I know that luna v2 will be successful, since everyone forgets so quickly.
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I hope the lesson is learned, but as you said, unfortunately people forget.
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Hmmm
So they are incorporating deflationary tokenomics to improve token price?
Could work
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But this does not guarantee that there will be excessive inflation in the future.
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That's true, but keeping the total supply low is still a good way to go.
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Low supply is a good way, but new investors are essential for salvation anyway.
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I find it hard to believe they will benefit from many new investors. They will have to regain trust first.
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I agree, I'm not sure if they can attract new investors. But they have to attract new investors if they want to be successful.
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For sure
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I would not be surprised if pantera capitals is on this list of investors again.
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This is a very important point, although if there is a lot of money involved, trust can be bought.
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I think there will be a ton of people who lost money and just want to get out while recouping some of their losses. So I think it will face some heavy sell volume and I don't think I have seen any roadmap to show why it would succeed.
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I haven't seen this either, but if they can offer high-reward features, sales might be hindered.
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I'm gonna be a part of these.
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And that's what they hope to do, buy the token at a skinny goose price so that when it is in the $20 range or more they will take profits, if this token is published on Binance I would also buy when the price hits the low end to try to recover some of the lost, I know that will be the case.
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Who's gonna buy LUNA2?
It's a lot of frustration around this thing and we also have the bear market which makes the life of luna2 quite hard imo.
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LUNA is pumping pre-snapshot which is to be expected.
I’m not sure who will buy it but I know that there are tens of thousands of people out there who lost millions and millions of dollars. Their only way to see that money again is to do everything in their power to make LUNA2 a success.
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I will buy at the lowest price when the whole market unloads recovering losses, then it will be the perfect moment.
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Good luck!
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Well, I support what you say, when the token comes out it will skyrocket and then fall sharply and then rise steadily until everything normalizes, the bad thing is that not everyone will be able to recover their gains.
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I agree with this outlook. IN the face of such huge losses, the majority motivation will be recovery of loss capitol. However Do Kwon is charismatic and some may still see longterm riches ahead, and those two groups will stick with him. I just don't know if this group will create a viable community.
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If they do, it will only be a matter of time before we will see LUNA2 with a huge following and back in the top 20 of the largest coins by market cap.
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If they can offer high-reward features, sales may be hindered.
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I haven't read anything about it yet but I wonder if they fixed the main problems that caused their demise
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Well, we can be sure that centralization was not eliminated, but rather it was reinforced.
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You can find information about the Terra Ecosystem Revival Plan 2 from the link above. There are also user comments on the same page.
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Yea I don't see anything about how they won't have anything similar happening again.
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UST was their main problem and they discontinued it, but also.. That was one of their main attractions as well.
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Good point, the algorithm stability different from USDT was what caught the attention, without that the new moon will be just another coin out of the 20K+ that are now out there.
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haha, absolutely and there really are 20k now, crazy, I expect to see some consolidation of projects this year, but who knows.
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Well, with this massive and prolonged fall, valuable projects are being brought to light and those that are smoke and distractions will disappear, for example luna.
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Absolutely! Luna is the Enron of crypto right now. Shock waves are slowing down though.
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Until they form a super nova that consumes itself? haha because I think it will happen.
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Good points
THey Jetisoned UST
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Although it may seem to be the main problem, in truth it is a list of many.
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That's interesting to see. If I were a hodler of the token, I would probably find a way on how to cash out soon as I see an opportunity.
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That’s the same most lunatics will think
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Probably :) Most might have been shaken to their core.
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Most people think the same. That's why they need to attract new investors to be successful. Why should they invest? Unless there is an answer to this question, things are difficult.
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Yes, they scared people with the fall and let's see how this attempt will go.
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A good plan can produce a solution, but unfortunately there is no good plan to produce the solution so far.
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Maybe Do K is already planning the next rugpull haha, that will be the offer for investors, panther capitals-like profits before it all collapses.
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And it will be too bad again for those who will fall prey. He better be good or he'd be thrown in jail hehe
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Yes, but an obese fish like Do k who has good contacts will avoid jail at all costs.
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True Trust is hard to earn, easy to lose and impossible to get back. They need to find investors who have never heard of them.
Does such an investor exist?
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Well mansa musa but it died a long time ago haha, I don't think they have such a damaged reputation that it will be difficult, just venture capital I think is the solution.
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There are many gamblers in the market, but I don't know if they can attract them from now on.
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They sure can still attract investors, only those who are there for the rewards i.e sell as soon as things goes up.
In the meantime, it will be nice to see how they turn things around
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They have to offer a good option to avoid selling pressure, otherwise the plan will be rubbish.
I hope they manage to turn things around. And I hope people regain their lost. Difficult but not impossible.
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A good point to consider.
The distribution needs to be more decentralized this time, and more metrics needs to be put in place to reduce the sell pressure. Anything other than this then Luna 2 might not do well long term.
Let's people can recoup at least few or most of their losses this time.
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And this is where one realizes what an excellent project Hive is, since it does not seek to please a minority but a community.
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Yes, they are thinking just that. Let it go up… even a little and dump it all.
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Yes, but we'll see how they are going to react to it.
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We will find out for sure 🤓 would be interesting to follow… closely.
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Yes Jackie, hoping for the best for them though.
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Of course, we don’t want to wish any harm to anybody.
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Hahaha that's the plan of 80% of all the people waiting for the launch hahahaha including me.
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I so know… 😉 hope it goes well for you!
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Oops, lol! Better be fast. I wonder how many out there are waiting for the opportunity to do so
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The waiting list is very long haha
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And you wouldn't be the only one haha.
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Haha, cheers! It's just natural, can't blame anyone who will do it.
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Thats what I am thinking..
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Glad I wasn't the only one thinking kinda selfishly hehe
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Many people have the same concern.
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Yes. It can't be ignored.
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LOL…more like rationally :)
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Lunatics are just trying to make back their loss. Trust me, these people will dump their coins when they have the chance
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I'm gonna be one of them.
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The loss is big so they try many ways but it is very difficult for them to get their losses back in the short term. Most will sell when they get the chance. Terra 2.0 wants to attract market gamblers. If they cannot attract new investors, their job is very difficult.
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It’s really difficult with the amount of reputation they had previously built, it’s so sad
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Unless they make fraudulent moves, resurgence will be difficult.
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They have made the token distribution conditions more stringent. They will have about 1 year to solve the problem. I wonder what they will do.
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True, those investing only what they can afford to lose with the specific goal of cashing out asap.
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I completely agree. I don't think there is even a plan to make this new chain succeed so I would sell if I got the airdrop.
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I think most people think the same as you do. If they can offer high-yielding features, there may be no selling pressure. But I haven't seen anything like this on roadmaps.
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Me too :D
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That is more certain than death.
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Hahaha!!! I feel sorry for the entire project, both new and old
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Yep I see that happening
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No, I don't think it will be successful. UST was the factor that made Terra stand out and I don't see any reason why people would choose the new chain over an existing chain like Polygon or etc.
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I agree with you. There is nothing tempting in the plan that can attract people.
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What do they say the new chain will be capable of?
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Plan 2 is here.
https://agora.terra.money/t/terra-ecosystem-revival-plan-2-passed-gov/18498
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This should have been domes earlier instead of increasing the supply.
It's going to be hard to catch up or recover most of their investors' losses but this seems like a way forward.
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At first, increasing the supply was a bad option.
Doing something is better than doing nothing. We'll have to wait and see how the plan will work out.
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Let's sit back and watch how luna 2 will perform with time.
I hope they can pull it off this time.
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We'll wait and see.
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No. It's created by the same people who made luna what it is right now... I don't know if I'm gonna be airdropped any token, although I own some luna on binance, but even if that happens I'm gonna dump.
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They will take the snapshot before the crash and distribute it accordingly, starting with the small investor. I guess it will be distributed to those who have less than 10K LUNA at first. But this plan is constantly changing.
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Everyone will get it, the ones who held prior to the attack as well as the ones who bought after.
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Yes true.
If the plan doesn't change, here are the details.
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Looks like a plan :))
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I think not, when trust is lost it is very difficult to regain it. If the general market turns bullish then they may have a chance.
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I agree that it is difficult to rebuild trust. But there is no problem that cannot be solved with a good strategy. Also, they still have the support of the community, I don't think they will find this support in the bull market. That's why I think something should work out in the short term. Sure they have a long way to go to fix the whole problem, but the community will want to see something work out.
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They may grind back over time, but I'm not seeing a quick return to the $100 point or anything.
Some stipulations on selling the drops were also put in place, so, it's going to be interesting to watch and a long term game if it works at all.
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Now when I checked, they changed the token distribution conditions. This looks a little better, at least there will be no sales pressure for 1 year.
In addition, Luna 2 will be distributed to those who bought Luna after the collapse. (Frankly, I didn't expect this.)
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Thank you so much for adding this to the discussion! Good Information.
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You're welcome, I'm very glad if it was helpful.
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Yes, because crowds forget quickly when money is involved. Sad story.
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I think most are looking to recover losses. I suspect they will exit once this is accomplished. Trust is hard to earn, easy to lose and hard to ever recover.
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Now I don't want to be the black sheep, but who's gonna trust luna anymore. The least they can settle with is a fanatic community like the one of XRP and a new token that will float around the crypto market for a while.
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Their reputation is just lost…
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Exactly what I was thinking.
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I agree with you on this. One may have learned his lesson thru the experience.
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I hope they learned their lesson.
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Hoping the same and I do hope that this will turn out well.
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We'll wait and see
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