I held UST before the attack. Does it matter then?

Question

Nexo Community

V.Leo

I held UST before the attack. Does it matter then?

#cryptocurrency #english #nexo

0

24.05.2022

23 ответов

24 просмотра

Kristian

Cal
Same as me but my thinking is if Nexo allow the ai...

Keep in mind the pre-attack snapshot favors smaller wallets, which means Nexo might not have gotten a lot from that one since they probably had a lot of UST in the same few wallets.

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24.05.2022

V.Leo Автор вопроса

I have just checked terra ecosystem revival plan 2 on their website and pre-attack ust holders are not mentioned in the token distribution. Not sure if we can get anything from it.

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24.05.2022

Mike Hanney

Well they mention a may 7th snapshot for UST holders

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24.05.2022

Kristian

Your funds aren’t separated. Having a small amount of UST at Nexo or another custodian doesn’t mean that there exists a small address on chain, most likely all the UST on the entire platform is held in one or perhaps a few addresses.

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24.05.2022

Cal

Kristian
Your funds aren’t separated. Having a small amount...

Ah right I see what you mean there, yeah I guess we won’t get pre attack then. Makes sense if we didn’t get our own UST address to send too and from

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24.05.2022

Cal

V.Leo
I have just checked terra ecosystem revival plan 2...

• Pre-attack Luna holders distribution - for all holders with a snapshot balance of 10k Luna or less, 30% unlocked at genesis; 70% vested over 2 years thereafter with 6 mnth cliff. This is to ensure that small Luna holders have similar initial liquidity profiles. This would cover 99.81% of Luna wallets while only representing 6.45% of total Luna at the Pre-attack snapshot. • Post-attack UST holders distribution - 20% → 15%. This is to ensure that depeg related allocation is on par with the original stakeholder (pre-attack Luna) allocation. The 5% saved goes to the community pool. • Increase initial float: all initial float allocations modified from 15% → 30% to increase initial token float.

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24.05.2022

Brad

Correct me if I am wrong, but if you hold UST on Nexo you won't get anything since we just hold liquid assets and Nexo is the real holder. Nexo will just share some of their Terra 2 stack with us? That would be absolute bollocks.

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24.05.2022

Brad

Mike Hanney
Well they mention a may 7th snapshot for UST holde...

Yeah, but we aren't the holder, Nexo is. All of 'our' UST is on Nexo's wallet. We only have liquid assets, which is why we can't even send our UST to another wallet without selling it first.

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24.05.2022

Jimbo Jones

Correct I assume what if anything Nexo gets via airdrop will be spread out proportionately to those impacted

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24.05.2022

Cal

Jimbo Jones
Correct I assume what if anything Nexo gets via ai...

Yes in an Ideal world but since Nexo have not mentioned this I decided to move my UST out of Nexo to Terra wallet by converting to USDC then to Binance, covert back to UST then send to Terra to be sure I get post attack

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24.05.2022

V.Leo Автор вопроса

Cal
• Pre-attack Luna holders distribution - for all h...

Let's vote NO for the terra Labs proposal then. It can be done via terra station app if you hold ust.

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24.05.2022

Cal

Brad
Correct me if I am wrong, but if you hold UST on N...

I think you are right, that is why I moved mine out of Nexo to Terra wallet for post attack snapshot, to be sure I get it

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24.05.2022

Cal

V.Leo
Let's vote NO for the terra Labs proposal then. It...

Yes I have already voted! It is under the governance tab! Did you move your UST to Terra wallet?

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24.05.2022

Kristian

V.Leo
Let's vote NO for the terra Labs proposal then. It...

LUNA is what gives you voting rights, UST or other coins don't have any voting power.

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24.05.2022

V.Leo Автор вопроса

Cal
Yes I have already voted! It is under the governan...

Not yet. I won't trust this project anymore.

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24.05.2022

V.Leo Автор вопроса

Kristian
LUNA is what gives you voting rights, UST or other...

👍

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24.05.2022

Cal

Kristian
LUNA is what gives you voting rights, UST or other...

I was able to cast a vote with about $0.25 UST, even if it is small vote, I could cast mine?

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24.05.2022

Kristian

Pretty sure anyone can cast their vote (as long as they have money for the transaction fee), but that does not mean you have any voting power. Only people with staked LUNA has voting power, and 10 votes with 1 staked LUNA each will be worth the same as a single vote with 10 staked LUNA.

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24.05.2022

Cal

Kristian
Pretty sure anyone can cast their vote (as long as...

Ah right I see, yeah probably a waste of transaction fees then! The Terra whales win then?!

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24.05.2022

Kristian

Cal
Ah right I see, yeah probably a waste of transacti...

Well, that is how PoS and governance works. The whales always win.

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24.05.2022

V.Leo Автор вопроса

Kristian
LUNA is what gives you voting rights, UST or other...

I'll convert some ust to Luna and vote NO.

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24.05.2022

Kristian

V.Leo
I'll convert some ust to Luna and vote NO.

As mentioned you can’t do that. The staking mechanism is disabled.

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24.05.2022

Cal · Accepted Answer

Cal

Same as me but my thinking is if Nexo allow the airdrop then we would get pre attack but if they don’t the we would only get post attack so fingers crossed they allow it

0

24.05.2022

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I held UST before the attack. Does it matter then?

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