Topic: is it possible UST recovered ? - page 4. (Read 983 times)

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!

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.

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.

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.

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?

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.

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

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.

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.

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

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.

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)

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

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.

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.

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.

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.

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.

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.

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.