~All Crypto~De-Fi~Reflections~Micros~Large Cap Crypto~OTC~

[xZx]

agree with all your points. and it's great to see so many on twitter, including CZ from binance, call out kwon's fork idea as bad strategy.

many come right out and say it's a "rinse and repeat" serial scammer move.

as i said on the LUNA board, if kwon dissolved terraform labs on april 30th, why should he have any further say in what LUNA does?

https://cointelegraph.com/news/court-documents-reveal-do-kwon-dissolved-terraform-labs-korea-days-before-luna-crash

every vote i've seen that isn't rigged by kwon shows near 90% support for buy-and-burn.

but let's say kwon gets his way (even while being prosecuted?) and the fork happens, resulting in LUNA classic and LUNA 2.0, that's leaving the door wide open to whoever manages "classic" to go ahead with a buy/burn strategy, and they could put any new entity into the LUNA vehicle.

here's vitalik buterin, coming out in favor of compensating small holders, not the whales:

https://markets.businessinsider.com/news/currencies/terrausd-luna-crash-ethereum-vitalik-buterin-do-kwon-stablecoin-crypto-2022-5

a turnaround story led by buterin wouldn't surprise me.

maybe LUNA becomes a fiat-backed stablecoin, or perhaps something entirely different. but as you said, odds are it won't be a fluffy, light-weight meme coin with no use case.

i bought the dip. and i'll not "bet the farm" but i'm going to keep adding some, if it continues to drop. the lower it goes, the more effecient it gets to buy and burn tokens. and the higher the leverage on a bounce, for all whales who accumulate it.