Yugocean
Valued Contributor
Crypto Lionel posted some tips on saving the LUNA, which was rejected by CZ, Binance; however, Terra's Bitcoin reserve may play a part.
Lionel suggesteda TERRA2 hardfork, taking snapshot of all transactions to destribute HODLers fresh LUNA2, while generating a new chain and pool to refund the old UST peg.
CZ, CEO of Binance expressed his dissatisfaction, pointing out that forking had no value for the new fork. He also pointed out that old snapshots cannot cancel all transactions.
CZ even inquired about the BTC reserves that were meant to be utilised.
Terra's Bitcoin Reserve
It is very well known that the Luna Foundation Guard Bitcoin reserve was supposed to be utilized to bail out during such situation.
The LUNA foundation is rumored to have sent $2 billion worth of bitcoin to the Binance and Gemini markets. According to Luke Martin's investigation, 52K Bitcoins was sent to Gemini and 28K to Binance.
So steps to save LUNA have begins, but this is not a green signal from my side to invest in LUNA.
Lionel suggesteda TERRA2 hardfork, taking snapshot of all transactions to destribute HODLers fresh LUNA2, while generating a new chain and pool to refund the old UST peg.
CZ, CEO of Binance expressed his dissatisfaction, pointing out that forking had no value for the new fork. He also pointed out that old snapshots cannot cancel all transactions.
CZ even inquired about the BTC reserves that were meant to be utilised.
Terra's Bitcoin Reserve
It is very well known that the Luna Foundation Guard Bitcoin reserve was supposed to be utilized to bail out during such situation.
The LUNA foundation is rumored to have sent $2 billion worth of bitcoin to the Binance and Gemini markets. According to Luke Martin's investigation, 52K Bitcoins was sent to Gemini and 28K to Binance.
So steps to save LUNA have begins, but this is not a green signal from my side to invest in LUNA.