17:36
One GAIA
it already has unfortunately.
18:09
One GAIA
who runs this group? no such thing as too much transparency, especially at this time
18:36
Sergio 'Chinoman10' Rebelo
Nexus team together with other people (not sure who).
18:38
The User
I dropping this here but if you guys need on devs or else, let me know, I can forward resources and I have few available local nodes if needed for anything
19:29
n3mo
gm mewny, nice having you here
19:29
have some thoughts and will try pen down. happy to chat separately if more efficient
19:30
speed is intentional — of the essence to prevent dev, validator and ecosystem churn
19:31
Tundra V1
group of builders. Nexus, Prism, WhiteWhale, Angel Protocol + others
20:05
Do Kwon 🌖
How about we just double the dev alloc
20:06
THORchain BULL
That was my suggestion.
20:08
Vini
That would be good! The more we can protect devs and projects, the better. Doubling sounds about right to me.
20:09
Tundra V1
any logic for that?
20:11
I think we are gonna put some pen to paper actually. Feels like there are a couple pieces we'd like to tweak .
I can't speak to all the details right now, but allo for builders, whale cap, distro to post crash stakeholders, and lock up periods seem to be things where we would like to see changes on
20:12
Do Kwon 🌖
What should we cut?
20:13
THORchain BULL
A bit less community allocation for $ust / $luna
The devs are the value creators, the pie gets bigger and everyone ends up with more value
20:13
Tundra V1
These parts seem to be the things that the builders are calling out as issues. This piece should be very small according to some
20:13
Jack Zampolin
UST holders 🗡
20:13
THORchain BULL
Not a 0 sum game
20:14
Jack Zampolin
Y'all have to make a decision. Make the builders happy or make the UST (debt) holders happy
20:14
Vini
+1 to builders
20:14
Tundra V1
not much of a choice tbh
20:14
Jack Zampolin
anywhere in between is a losing proposition
20:15
Sergey Vasylchuk
Communism 2.0?
20:15
The User
What is qualified as an essential dev?
20:16
Jack Zampolin
This isn’t communism it’s smart business. Defaulting on debt is an age old tactic
20:16
Tundra V1
builders are gonna work on a proposed framework for distribution. Think it might be some combo of TVL, MC, # of users
20:16
THORchain BULL
No. Some of these people will want this project to succeed guys. The ust community is not a drag, community adds value to project.
It’s a huge community of 100 000s of holders. 1000s will stick around and end ip adding value
20:16
Sergey Vasylchuk
I remember crash of EOS , give a power to devs and let’s cut off whales.
Investors gone
20:17
Tundra V1
to be clear, not cut off whales. Just limit them in new structure
20:17
also, do not think thats a fair comparison considering the level of technical talent & traction we had in the builder community here vs there
20:18
THORchain BULL
Every single group is important there.
I wouldn’t cut off whales either, I’d just distribute as it was. There’s not a single big L1 without whales / vc funds.
20:18
Tundra V1
whale cap seems to make sense and is gathering consensus. People dont want the same ownership structure on the new chain I think
20:18
Jack Zampolin
Cosmos but I don’t think y’all like that example.
20:19
The User
I fear that the endgame will bring the same distribution where paper hand will eventually dump for whales hands
20:19
n3mo
Another angle to make UST holders whole — sell discounted bonds that can be reclaimed at par + % interest say a year from now (this assumes there’ll be a new stabelcoin in new terra network)
This has the outcome of raising capital too. While giving UST holders upside to regain their principal with a small down payment. Yet allows new chain to focus on builder sustainability. Nice balance of reinstating debt + raising capital + builder focus.
This is how governments bail out economic crises btw. Issue discounted t-bonds and market to central bank and instis.
20:20
The User
Many whales invested couple hundred of thousands since depeg. In a somewhat selfish way you’ll say, but they did where others just jump off and sold, if we could purchase that low, its because many decided to paperhand at some point.
I agree builder should have more. But I don’t think it should be at the « whales » detriment
20:21
Tundra V1
brb gonna be back later, going to work on the builder counter a bit
20:21
Sergey Vasylchuk
Just don’t try to prioritize some group for now , losing piece of participants will lead to misbalance.
20:21
Tundra V1
whales detriment, no not the way to look at it I think
20:21
The User
This is not a bad idea, that being said, UST is planning to be retired ahah
20:21
Sergey Vasylchuk
I’m on dev part , just FYI
20:22
n3mo
Then issue bonds on new Luna token if need be. Not a fan of that (would prefer par value bonds) but worst case gives room for consideration for UST holders
20:24
The User
Could it be a « USD » valued bonds, transferable in LUNA value at coupon payment date or terms ?
20:26
Frank Jia
I love the fact that we are focusing on empowering devs. Are there any plans to bring some sort of stable to Terra, whether it's terra native or encouraging bridging of other stables like USDC? A lot of crypto is centered around defi (which stables are a core of)
20:32
Vini
yes man, USDC/USDT via WH
20:32
its in the agora btw
20:33
Do Kwon 🌖
Working on it
0base.vc invited Ryan Jang
Ryan Jang invited BC Chang
20:41
THORchain BULL
Poor people always vote for high taxes on the rich. It’s a popular policy. The rich go somewhere else or have tax evasion strategy. It leads to brain drains etc
If you exclude whales, whales will exclude themselves in the future.
20:41
Caleb L. Power | AxB | D₀ | MD
Oo
20:42
Tundra V1
dont wanna exclude whales, just limit their ownership of the network relative to what it was before. A slight power lvl adjustment is called for I think
20:43
THORchain BULL
Just my 2 cents, I like free market principles. Whales create more value in an ecosystem.
I won’t bring that back again.
People will always vote themselves more alloc. Is it really fair to the guys who had the most skin in the game? They had the most risks.
Jump and Binance didn’t dump. They were one of the biggest net positive for the ecosystem.
Food for thought.
20:45
THORchain BULL
Terra was a whale tank.
20:45
The User
What I fear the most is paperhand at the hand, removing from whale hands for quick-profit-hands. But anyway, here is not the fight
20:45
Tundra V1
Some notes from our builder group convo:
"People don't want a VC chain - all UST pre Attack and LUNA pre Attack should have a "whale cap" to even out the ownership of this new chain, not setting it up to be massively controlled VC chain from the beginning. Protocol Treasuries should be excluded from this whale cap."
20:46
THORchain BULL
I think this is shortsighted. The restart of this bull run will come from VCs not retail.
20:46
Tundra V1
I will share all of your feedback
20:46
i think it is valuable
20:47
and i am not discrediting it
20:47
THORchain BULL
Jump just lost 2b protecting the peg. Why should they be penalized when they’re the hero of this story
20:48
Tundra V1
to be clear - we do not know what they did. There has been no audit on the activities of Jump, for all we know they open a big short as they knew the price of the assets were collapsing
20:48
would be a stretch to call anyone a hero right now
20:48
especially anyone who was in the war room in the critical moments
20:48
THORchain BULL
Right
20:49
Do Kwon 🌖
Station is shipping with launch
20:49
THORchain BULL
Amazing. Will it support both chains?
20:56
PFC
don't see why it wouldn't .. it can already support mainnet/bombay/add-your own
21:04
THORchain BULL
Is there a name for the new chain / token?
21:05
Do Kwon 🌖
Name seems less important
21:05
The name terra came bc i happened to be playing lots of sc back in the day
21:06
The earth moon thing came later
21:06
THORchain BULL
I like Remi’s suggestion
Terra Nova
Could be $nova or $terra
21:09
Interestingly the first chain has meme coin supply with solid infra and smart contract capabilities.
If Elon is right it will become money lol
21:09
It will be interesting to see what happens there
Vini invited Lumiere | spec.finance (won't DM, won't ask your 12 seeds)
21:11
Lumiere | spec.finance (won't DM, won't ask your 12 seeds)
👋
21:11
Do Kwon 🌖
U in sers?
21:13
Lumiere | spec.finance (won't DM, won't ask your 12 seeds)
We are always in, and would like to learn more details also.
21:20
BigB - Smart Stake Validator - Dont Trust DMs
someone in my group says
21:20
Do Kwon 🌖
Declare support on Twitter for the fork and we will add you to the list
21:21
BigB - Smart Stake Validator - Dont Trust DMs
same goes for smart stake for analytics/validator dashboards? 🤷♂️
21:21
Noted. Lesser of all evils though
Lumiere | spec.finance (won't DM, won't ask your 12 seeds) invited hikari042 (won't DM or ask 24 seeds)
Vini invited Spectrum Rhealward (won't DM you first, won't ask seed/private key)
21:35
BigB - Smart Stake Validator - Dont Trust DMs
Done.
Smart Stake has built several analytics dashboards for Terra in last 18 months and "commits to continue building dashboards on the forked chain" to educate community, provide visualizations for various aspects, build validator & network performance tools and increase transparency
https://twitter.com/SmartStake/status/1526389648775335938
21:49
BigB - Smart Stake Validator - Dont Trust DMs
@dokwon some of the community validators have repeatedly spoken about how several of the validators are what's called zombie validators. i guess doing any subjective equalized distribution is difficult given the tight timelines ....
but then i realized that some of the validators actually charge 100% commission. I wonder if this will lead to many validators setting high commission rates and milk the system because of the uniform distribution. it may be better to atleast include commission as an input in the uniform allocations (or perhaps limit to x% commission)
21:50
PFC
Ru referring to angel?
I'm not sure who else is on 100%
21:50
BigB - Smart Stake Validator - Dont Trust DMs
flipside
21:51
BigB - Smart Stake Validator - Dont Trust DMs
but what is stopping you or i from going to 100% or 50%
21:51
PFC
Lol.. mine has a max commission of 5% but I assume we could limit it
21:51
One GAIA
ok, but maybe that only starts counting above 10%? downward pressure on validator commission makes it unfeasible for smaller guys like us to keep proper infra profitably.
we've seen the 0% fee wars before.
21:51
PFC
Or redelegate after ?
21:53
BigB - Smart Stake Validator - Dont Trust DMs
not against 10% commission. just saying if commission is not a factor, you will see a race to 100%. i dont think everyone will redelegate quickly
21:54
PFC
Could weight allocation based on max commission settings of validator
21:54
BigB - Smart Stake Validator - Dont Trust DMs
100%
21:55
One GAIA
that isn't fair, because that parameter is immutable and ours was set very very high, back in 2018
21:55
PFC
This is for the gentx.. it'll be a new node
21:56
Vini
max_daily_change
21:56
One GAIA
vals charging above 10%
21:56
yep, we have that at 1%
21:57
meaning, i can jumo 1% until i reach the max of 20%
21:57
this is immutable once you set up
21:57
PFC
Right.. were talking about the 'max'
21:58
BigB - Smart Stake Validator - Dont Trust DMs
max daily change aint that helpful for this. staking is long term game n many wont redelegate. max daily commission is good. most projects that do this kind of delegation use a max %. e.g. TDP had 10% cap. Angel is a special one obviously
21:58
Vini
some can go to 100% in a day
21:59
THORchain BULL
You guys think the original chain will die? I bet it’s a $1b+ chain.
I’m going to validate both
21:59
PFC
Right.
And I'm saying they should get less allocation (the max amount not the daily change)
22:00
BigB - Smart Stake Validator - Dont Trust DMs
i will be on both chains as long as there is a practical reason to keep it up
22:00
Vini
i agree, we should define default validators paramaters across the set on the new chain
HyunCheol Park | Mosaic invited Park Jooyoung
22:08
Zak| EZStaking.io (Will never DM you first)
which list?
22:13
Chauncey St. John 🌔😇 | Angel Protocol
Done 💪
22:48
Do Kwon 🌖
how about only validators with max 10% commission will be delegated to at genesis
22:49
BigB - Smart Stake Validator - Dont Trust DMs
that is reasonable imo. also ok with bit here and there in terms of the exact value.
22:49
Alex Ast | stakesystems.io
Please add us to the list, we advertised our support on Twitter
22:50
Chauncey St. John 🌔😇 | Angel Protocol
22:50
Do Kwon 🌖
@terran_2 can you keep track of validators that will be coming back?
22:50
One GAIA
Looking forward to announcing it, but how are ppl going to know which chain are we reffering to given the multiple proposals?
22:53
David Koh
Not sure why it needs to be max 10%. Ideallty it's just people who are at 10% currently. The max % is something validators have set long ago and won't even be able to change it now.
22:53
Jared | TFL
yes. Have a list going now.
Folks, if you plan to validate on the new chain please send me a DM so I can get a tally going.
We are working on the details of how in the next couple days. When we have them settled we will instruct on how to create, and then collect gentx.
22:54
Mr. K you are on the list. 🙂
22:54
Claudiu Nae | 01node.com
We will support it too :)
22:54
PFC
I tweeted support a while back
22:55
Jared | TFL
excellent ty!
22:55
Shupcode
@terran_2 (samwise | Galactic Lounge) here we will be willing to help validate in both the old/new
22:55
Michael Ng
Dm-ed,
stakewith.us will be validating on both chains too.
22:55
Jared | TFL
got it down
22:56
Jared | TFL
man I wish emoji reactions were enabled in here
22:56
Jared | TFL
got it!
22:58
BigB - Smart Stake Validator - Dont Trust DMs
can someone enable emoji's/reactions?
22:58
w
Terrans - can you fwd to Telegram and Discord groups you are a part of with active builders? We are collecting info of projects we can best help onboard to the new network.
---
Hi all, during these difficult times we'd like to get a pulse for how you are approaching the next few months so we can be most helpful. We know you've been reached out from multiple angles, having a central place with your contact info and needs will help us coordinate with you as best we can.
Please fill out the attached form with your details to support the new network launch.
https://forms.gle/ixrqMt6YrUKhkYJM7
22:59
Jared | TFL
happy to have you ser, recorded
23:00
Jared | TFL
got it, got you in
23:01
Mr.K
How about setting the default commission settings all the same to 10% and making sure they don't change? It looks like we can get rid of commission competition.
23:02
Do Kwon 🌖
i think just insisting that all validators set a max_commission of 0.1 should be enough
23:02
over time people should be able to charge higher comission etc
23:02
esp if they dont want other people delegating
23:06
THORchain BULL
When are we re enabling delegation on the original chain?
23:07
Jared | TFL
Up to the group.
Personal thought: post fork
23:10
BigB - Smart Stake Validator - Dont Trust DMs
i dont think it should be done till the fork ... i could be wrong but it feels like there is a tsunami of meme coin hunters that have invaded ... i have never seen most of them before ... all just chanting burn tx fees and dont fork ... they dont appear to be the lunatics we had ... and they likely all have millions luna picked in few dollars
23:13
Tundra V1
You're moving forward without getting clear alignment from builders
23:13
this is a big mistake imo
23:18
BigB - Smart Stake Validator - Dont Trust DMs
What is the relation between TBA and the discord rebuilders group? Or are you different?
23:18
Tundra V1
different
23:18
Do Kwon 🌖
I thought you were setting up a call for us?
23:20
Marius Abalaru
Hey guys. Any idea what will happen with the Osmosis UST?
23:20
Tundra V1
I thought you were going to wait to talk to us before asking people to push out more comms. I'm trying to organize a call now, this is sensitive at this point.
23:21
Do Kwon 🌖
I'm just doing RTs
23:21
Not sure what I did wrong to offend
0base.vc invited J | WeStaking
23:23
Tundra V1
This whole thing is moving too fast, and builders are not aligned with the current allo / distribution. If you're gonna ask more people to RT the current proposal, or voice their support without gaining better alignment w core group of current builders then Im not sure what we're doing
23:26
Calin Chitu
Kytzu supports the fork too, I will post on twitter also
23:31
Vasiliy
Lido will run gov discussion + vote re: supporting the fork. No immediate position for us
23:34
jiyun | DSRV
dsrv also no position. cuz there is no officiall governance. but still support only lunatics not tfl
23:34
HyunCheol Park | Mosaic
@terran_2 I've DM'ed you.
23:35
Bogdan A.
Will you accept new validators for terra2? Let pe know if I can apply.
23:36
Do Kwon 🌖
sounds reasonable
@terran_2 >?
23:37
BigB - Smart Stake Validator - Dont Trust DMs
I am in support of a whale cap or a tapering mechanism. All for builders too but not at any significant expense of luna or ust holders (ideally pre depeg)
23:37
Jared | TFL
agreed. We will need backups. Keeping a list of them as well.
23:39
ust and marginal luna side needs whale caps
23:39
rumors of massive buyers
23:39
but hard to verify bc most of that supply is in exchanges
23:40
BigB - Smart Stake Validator - Dont Trust DMs
There's an army of them responding on every tweet and every forum
23:40
Do Kwon 🌖
but with the original luna portion everyone is already massivley diluted from their portion & largest whale (TFL) is being blacklisted so i think we should refrain from more cuts
23:40
BigB - Smart Stake Validator - Dont Trust DMs
Traders... Probably some whales too
23:43
Do Kwon 🌖
well luckily theres so much UST out there that i dont think its possible for anyone in that category to own too much
23:47
Jared | TFL
36 validators already signed up. in only 56 minutes.
love it.
Keep it coming 🙂
23:47
PFC
So if you don't get 130 are you opening it up to others?
23:48
Or just give original set more of a position?
23:48
Dan - ChainofSecrets.org
Where do we sign up
23:51
Jared | TFL
Right here!
You in?
23:52
Cory moonshot
Sent DM
@terran_2. Will validate whatever fork proposal passes governance
23:52
Dan - ChainofSecrets.org
Yes DMd you too
23:52
Jared | TFL
got it!
23:58
CalvinCrypto (Never DM first)
DMed
@terran_2, RockX will validate the new chain, please make it happen! 💪
00:00
Jared | TFL
excellent!
00:03
Zak| EZStaking.io (Will never DM you first)
hi jared, DM sent
00:08
James Parillo
Same for figment- no position at this time but will review once a governance proposal is submitted
00:16
Aries @SynergyNodes
Hey Jared, I have sent you the DM.
00:16
We will validate on the new chain
00:19
Jared | TFL
gotcha!
00:24
Aries @SynergyNodes
Does this include those who are in the process of UNBONDING at Anchor Protocol (bLUNA to LUNA) ?
00:26
Yasha
The numbers for the total supply are taken from the coingecko, for the total LUNA supply it is a rough estimate (based on the 350m LUNA in circulation prior to depeg), if anyone has more accurate information on the total supplies of the tokens let me know and I'll update the spreadsheet
00:28
Calin Chitu
Is the osmo/ust LP also considered? Most of my ust are there
00:30
I mean if they will be taken into the account of the new chain economics
00:31
Dan - ChainofSecrets.org
What about luna & UST that was sitting on exchanges pre depeg?
00:46
THORchain BULL
Just so I understand proprely, I should reset my max validator fee to 10% on the current chain to be able to get the 2nd one ?
I've never charged a fee at all to delegators.
00:48
Aries @SynergyNodes
Sorry, where did you get this info? Does all the validators on the current chain has to increase commision to 10% ?
00:49
George Bunea | Syncnode
done. We suport the fork
Caleb L. Power | AxB | D₀ | MD invited Jayant Ramanand
00:52
Jared | TFL
We will collect a custom file which will set this on the new chain. Nothing needs to be donw at this second.
S Z invited CK | DeFiance
01:09
Roman
an important question, will the leading exchanges support our fork and new network? there is some confirmation, Kraken agrees, if I understand correctly, but what about the others?
George Bunea | Syncnode invited Tibi K. | moonlet.io
01:17
NGINE | BlockNgine Validators
George Bunea | Syncnode invited Cosmin | Syncnode
01:51
Lumiere | spec.finance (won't DM, won't ask your 12 seeds)
Hi, for the new chain, it is fork right? Does this mean all existing contracts still live? Or we need to set zero everything?
Claudiu Nae | 01node.com invited Tayo | 01node
02:08
Ilhan | Staker Space
Hi
@terran_2 ,
I have dm’ed you, we will validator the new and old chain.
02:09
Seb
If the USP is so massive , you should run a 100% commission validator on the new chain me thinks
02:10
Who is “us”
@tundraV1 ?
Just trying to get clarity here
02:14
Guy Zyskind | SCRT Labs
@dokwon DM when you get the chance
02:35
Dan - ChainofSecrets.org
02:55
Papi
Exisiting projects would need to be ported over. The new chain will be an L1 without a native stablecoin .
03:03
Ilhan | Staker Space
03:41
Do Kwon 🌖
No just the max commission - so any commission under that amount should be fine
04:27
Do Kwon 🌖
Can we use the rebirth channel?
04:27
George Bunea | Syncnode
Where is that?
04:27
Spaydh 🌘💧
No the discord one i think
04:30
Liviu | Easy2Stake.com
Move to another discord?
04:31
Do Kwon 🌖
there is a rebirth discord
04:33
Konstantin | BTC.Secure
Zhuling Chen | RockX invited Shawn
Zhuling Chen | RockX invited Alberto
Zhuling Chen | RockX invited 🌻
05:41
Sergio 'Chinoman10' Rebelo
what counter?
05:45
Is actively being discussed on the Discord server, join the conversation if you want.
05:46
Spaydh 🌘💧
Can I get a link pls?
05:47
Sergio 'Chinoman10' Rebelo
sending you DM
05:49
JiuKelo | 01node.com
Can i also get an invite?
05:50
Bogdan A.
Can you send me the discord link? Thank you
05:51
George Bunea | Syncnode
I would need an invite as well. Thanks!
05:54
Liviu | Easy2Stake.com
Can you share the invite link?
05:56
Mihai
I would also need an invite. Cheers!
06:00
Evgeniy
resend plz, dm’ed you before, still can’t join
06:01
Sergio 'Chinoman10' Rebelo
(fellas, I'm still reading this chat and the DM's. Please give me a few minutes, I'm not forgetting anyone (as long as you have DM'ed me already)
06:21
Calin Chitu
I would also need an invite. Thanks
06:21
Liviu | Easy2Stake.com
Why don't we have a shared link here?
06:21
Seems there are a lot of people that are not there
06:34
Sergio 'Chinoman10' Rebelo
Some people that Nexus rallied under a group with the same name of an already existing collective (Terra Builders Alliance). Not sure if it was intentional to cause confusion or just not knowing of its existence 🤷
But either way there is a consensus that everyone should rally under the same place (which isn't "TBA v2"), so that everyone can voice their opinion in front of all the relevant eyeballs and ears.
The "Rebuilding Terra" Discord server is so far the elected channel of comms for validators + founders. Whoever says otherwise is just trying to split the community even further to be honest 🤷
Yesterday a meeting with >40 relevant people (validators, founders, TFL, etc.) already happened. The recording has been been put up online on the Shared Drive (that all founders have access to). These will continue happening every day so we can coordinate as a group and make faster decisions. These will also start happening on multiple timezones. There's entire teams dedicated to facilitating all the comms and Ops (both internal and external).
06:34
Because they get leaked.
etienne | Setten invited Luc | Orne.io
07:20
Jared | TFL
I will get a new one up with Chinoman today.
07:24
@Chinoman10 will DM. The discord we make today will be focused solely on the technical aspects of the launch for now. We can open up more after fork.
For more general "rebuilding" or "philisophical" discussions about the terra ecosystem I still recomend this chat or the rebuilders discord.
We need a place where the validators can share technical information without the general noise for now.
We will onboard people who have signed up for validating on the new chain as soon as we get the server live.
07:33
Sergio 'Chinoman10' Rebelo
We can just use the validators exclusive chat, no?
07:34
Only 1 person per validator has access to that chat.
07:34
Do Kwon 🌖
may need to do a bit more than that
07:34
Sergio 'Chinoman10' Rebelo
We can make it so that multiple people can access but only one rep can vote on things (on Discord).
07:34
Do Kwon 🌖
some validators have multiple ppl
07:35
Sergio 'Chinoman10' Rebelo
Indeed, hence my 2nd option.
07:35
etienne | Setten
yeah agreed, need at least several channels. it's too tiring to have notifications on one general channel
07:36
Sergio 'Chinoman10' Rebelo
@terran_2 you've been managing Validator comms for as long as I remember, so in the end I let you make the call, I'm just giving general advice.
We are available to help in any way we can.
07:36
You can tailor notifications on a per channel (and server) basis.
07:37
etienne | Setten
yes yes, that's what I meant :) -> need at least several channels for validators coordination.
minimum would be two. one for important notices (notifications on) and one for general chat (notifications off)
07:37
Tayo | 01node
Can I get an invite as well
07:38
Sergio 'Chinoman10' Rebelo
Ah, well we can use the announcements on the builders category (or the "semi-public" one 🤷♂️), and just tag Validators whenever it's important info for Validators.
I'm a big advocate of only pinging relevant people for different announcements.
07:40
I'm having lunch now.. Give me a few minutes and I'll get back to it 👌
In the meantime send me a DM with your Discord username (so that I can tell it's you when joining), and I'll send you the invite as soon as possible (less than an hour).
07:42
There's also no problem in creating a dedicated category for Validators (ones are read-only (announcements) and others are free chatting).
My point in continue using this server is that we already have a lot of validators inside.
Creating a new server and resending invites would be a lot of double work, that's all.
07:44
etienne | Setten
yep, I agree! I was splitting hair about chan organisation :p
07:49
Claudiu Nae | 01node.com
Invite me as well please
07:50
I don t know who is in charge for this
07:53
Aries @SynergyNodes
08:19
Alex Ast | stakesystems.io
No invite yet
08:34
Roman
Please invite for RomanS | Luna Station 88#8757
Jared | TFL invited Amack
09:24
Tibi K. | moonlet.io
can I get an invite also, please
Tibi K. |
moonlet.io#6120
09:30
Jared | TFL
right on
09:42
Alex Ast | stakesystems.io
Can someone please fix the invite thing? I don't like having to beg random people for invites. I understand that there are other channel(s) than this one where matters are discussed. Can someone make sure that everyone is in the loop by giving invites to everyone involved?
09:57
Roman
I don’t understand this either, they wanted support from validators, but not all validators even participate. or it's some private party and not everyone was invited, sad to see what is happening
09:57
Thomas | Reality Flux | Orbital Command
i sent a dm
10:00
MT
Hi, I am Terence from Forbole. Can the admin enable the chat history?
10:04
Cory moonshot
@Chinoman10 sent you a dm yesterday. Think it got lost.
Cory | moonshot#4268
10:04
curlycrypto | StakeWith.Us
10:05
Peter Chainlayer
Whats the idea behind a new discord btw? I mean we managed to successfully halt and restart the whole chain in this TG channel and there already is a Terra Discord, why do we need a second one and who owns it?
10:12
We'll manage it. Previous discord will be for old chain.
This group has a lot of non-validators in it. We will need to coordinate things like gentx, specs, etc. Need a format better than telegram to coordinate the moving pieces.
10:14
Sergio 'Chinoman10' Rebelo
I'm going through my DM's once again to distribute invites to the "Rebuilding Terra" Discord server.
This Discord server is more for community decisions, and not technology steps specifically for Validators.
You can DM me for an invite (if you haven't yet). I still have a list of ~30 DM's to sort through, so please give me a few minutes, I'll go through them after sending this message.
There will also be a new Validators server, where
@Jared_TFL will manage the invites and verifications.
10:15
Peter Chainlayer
Wait so theres a “rebuild terra” discord and there’s going to be another one from Jared?
10:17
Sergio 'Chinoman10' Rebelo
The one managed by Jared will be similar to the old "Terra Validators" server that lasted more than a year.
10:17
It is exclusive to validators.
10:17
"Rebuilding Terra" is lead by the community, and so it has founders from every team and also several validators (30-40 so far).
10:18
Peter Chainlayer
Gotcha, thanks for the explanation
10:18
Sergio 'Chinoman10' Rebelo
Alright... I'll go through my DM's now. 🙏
10:30
BigB - Smart Stake Validator - Dont Trust DMs
@dokwon @bk2111 - a validator posted a note about legal aspects of hard fork. Is TFL able to position it as their own decision to hard fork and inviting existing validators. Community validators interests are in doing what's best for the community. Most of the community validators don't have legal counsel. Is it fair to rely on TFL/you in ensuring that there is no liability coming towards node operators?
Tibi K. | moonlet.io invited Adrian I.
10:35
Tibi K. | moonlet.io
11:22
Terra Dactyl
I want to suggest that there be genesis incentives not just for builders to declare support but also for exchanges. Public confidence in the existence of liquidity will be crucial to regaining confidence in the future of Terra
11:25
Spaydh 🌘💧
Good luck getting Binance’s ^^’
11:25
Do Kwon 🌖
I think we can get it
11:25
ok will get exchanges to declare public support
11:26
Spaydh 🌘💧
Wow, ok, that’ll help with legitimacy
11:36
One GAIA
that's 80% of the road to legitimacy... if there is liquidity, they will come.
12:04
Dervish
How about people who put their UST in Luna dapps pools?
12:07
Sergio 'Chinoman10' Rebelo
A bit fat majority of my Luna's pre-crash were on a 1-year lockup on Astroport's Luna-bluna LP.
12:08
I'm pretty certain that is lost for good (I mean, they are still there, but... right now I have 300x bigger quantity since I bought the dip and invested just a fraction).
12:08
Anyway... let's discuss these things on the Discord server, yes?
12:08
Whoever isn't in it yet, please send me a DM.
12:08
I'm finally caught up with them.
12:08
Claudiu Nae | 01node.com
Where is the invite?
12:10
Sergio 'Chinoman10' Rebelo
sent in private on a case-by-case basis.
Links aren't shared in groups to avoid leaking.
12:10
schultzie | Lavender.Five Nodes
can I get an invite as well please?
13:05
Jared | TFL
@ChaunceyStJohn and
@Sunslinger Have their commissions at 100% due to their business models.
What are people thoughts on how we would distribute staked tokens to them at fork genesis?
Should they have the same split as everyone else?
10% of the average stake?
I know some people were against any validators having a max commission above 10%
BigB - Smart Stake Validator - Dont Trust DMs invited Sebastian J
13:14
BigB - Smart Stake Validator - Dont Trust DMs
dont know what sunslinger does but for Angel, ok with an exception
13:14
Sergio 'Chinoman10' Rebelo
"sunslinger" is GJ from Flipside.
13:15
Jared | TFL
Aye, flipside used their validator income to fund bounty programs.
We’ve seen some interesting projects come out of their programs.
13:15
Sergio 'Chinoman10' Rebelo
You already joined :)
13:16
We've been talking about the "Lunatic Score" the last few days for example.
13:16
THORchain BULL
Just to understand, what will be theses staked tokens? The unvested ones?
13:17
Jared | TFL
Staked from what I understand in the proposal.
13:21
BigB - Smart Stake Validator - Dont Trust DMs
is it not for profit i.e. they had 0 profit? i know the bounties ran into some amounts here n there but their commissions were much higher as well. i have nothing against a not for profit organization taking 100%
13:23
Hello
@dokwon,
@tundraV1,
@MrRefractor,
@Sebastian_Jer - seeing that two factions are emerging on how new chain should be launched and there is a public difference of opinion/stand
- also seeing that lot of community members (new/old/whatever) are against a hard fork
- assuming that the current chain has the least chance of making holders whole and a hard fork is the best way forward in the interest of community, network, builders
- can you guys please work collaboratively and come to the same page
- also seeing that lot of chains are reaching out to individual terra projects and vice-versa and goodies/support are being offered with lot of mutual respect (even i have connected a couple of them when requested).
- there is also lot of negative vibes about TFL proposing or doing a hard fork, since the broader builders group are going to be the custodians of the chain anyways, may be let them assess it and run with it as appropriate (not suggesting that the ones named above have to do it)
since time is of essence, hoping that you all the visionaries will find a way forward in the path to recovery that best serves the community and builders
13:56
GJ Flannery
@Jared_TFL looping in Dave (CEO) who can speak with most authority about how it’s set up
GJ Flannery invited Dave Balter
14:30
Marius Abalaru
Hello, can I please get the invite for the discord channel ?
14:58
mr smith
@bigb4ever I'm sure everyone who bought millions of luna at $0.0001 is against a fork, but should we care about them?
14:58
Frank Jia
We're going to put the Terra V2 proposal to decide whether Galactic Punks will validate. Can we confirm the nodes we need to run for the migration?
15:01
Jared | TFL
It will be a new chain, so none of your previous nodes will be relevant.
Let me know when y'all decide if you want to validate on the new one or not.
15:05
BigB - Smart Stake Validator - Dont Trust DMs
The only meaning of that statement is that you already have lot of people standing against the fork, Terra leaders divided over how to fork n having 2 proposals weakens their position significantly
15:10
mr smith
yup, i get it... the different financial positions of participants is forming groups... can't blame ppl for arguing in their own interests i guess.... makes it hard to move forward as one 😔☺️
15:10
Roman
Why 2 proposals? did I miss something?
15:11
mr smith
Read the comments under Do's proposal thread, a lot of people simply do not want a fork... to fork or not to fork, that is the question.
15:13
The User
You shouldn’t be that sure imho.
Most of the remaining community did and are simply not all positionned
15:14
and human is good at being against something and those people are always doing the most noise.
15:15
and I don’t think 5000 people represent the whole LUNA community 😉 ahah
15:31
Sergio 'Chinoman10' Rebelo
I'm coordinating accesses by DM's if you don't mind... I can't easily make invites now as I'm at a family event, so I'll just run through my DM's when I get back home.
15:31
Frank Jia
So just a single node on the new chain?
15:32
The User
ideally testnet/mainnet for new chain but some were planning to have all 4 nodes
15:34
Jared | TFL
testnet/mainnet will definitly be in everyone's best interest as a minimum.
15:35
Frank Jia
Sounds good, thanks all
15:43
Hyperion
Thanks - I think there is some very positive momentum on Terra V2 and a unique opportunity to start a brand new L1 with an existing community and existing dapps.
18:10
This is a general meeting for rebuilders to address points of discussion or any action items.
Moving forward, we will be running meetings in a way that covers action items and discussion topics submitted by all contributors and validators.
Until we have as close to consensus as possible in-terms of how to forge ahead, I believe that these sessions can serve to create a solid base of information sharing and high-level discussion that will allow our people to make the right decisions for their individual projects.
18:18
Frank Jia
We'll be putting up an on chain proposal tomorrow so hopefully will have a definitive answer soon
Caleb L. Power | AxB | D₀ | MD invited Rodrigo Quan
19:00
Reflecting on this medium article I firmly believe this was a necessary moment for Terra. We had to become zero to become infinite.
19:02
At this juncture the entire world has been informed of what Terra is/was/will become again.
19:02
The proposed fork would provide 35% of all LUNA to LUNAC and UST holders at the time of the launch snapshot.
19:02
The fork represents an opportunity for anyone and everyone to obtain material stake in the future of the chain at a nominal cost by purchasing LUNAC or UST before the launch snapshot.
19:03
24-hour trading volume of LUNAC was over $1.5B
19:03
And yesterday LUNAC volume exceeded $3B
19:03
UST and LUNAC both remain Billion-dollar assets in defiance of what has already happened and in anticipation of what lies ahead.
19:03
People are taking the opportunity to join.
19:03
The number of wallets has never been higher.
19:03
This moment is the most egalitarian moment in the history of crypto since the original launch of Bitcoin.
19:04
The network effects after the fork will be something to behold.
19:04
The future of money is just beginning.
19:04
I like the sound of that
19:08
Aquila (9R)
Any notes/minutes from the meeting? Thanks in advance.
19:24
Iron Star Finance
"[Bitcoin] was strategically released into the wild (into an online group of cryptographers) at a time when no comparative technology existed. Bitcoin’s organic adoption path and mining network expansion are a non-repeatable sequence of events."
19:24
feels simliar to where Terra is today
20:25
Jason Stallings (octalmage) 🌖
Can anyone interested in building on the fork please DM me any questions you have? Working on an FAQ and migration guide for developers.
Thanks!
20:29
William Chen | TERRAN.ONE
20:30
BigB - Smart Stake Validator - Dont Trust DMs
@Jared_TFL - please update my validator position on v2 participation as "no position".
23:34
PFC
out of curiosity how many accounts actually have more than 1M luna in them?
I was curious to know how much would be repaid if we used a lower cap.. say 100k luna
23:34
(the difference between ~$80m vs $8m)
23:34
David Koh
I like this idea. I feel the whale cap can definitely be lowered.
23:44
BC Chang
Hi, can I get an invite to the discord plz?
@Chinoman10 sent you a DMa while back~ plz and thank you
02:03
t kr
Team,
Is there a new DISCORD channel that I can be added to. We run validators, wondering if there is a new one which has discussion for the new terra chain launch dicussion?
03:29
Most of the notable teams in terra are signatories, the TBA should be issuing a tweet shortly as well as from TFL
03:29
we should be able to put this to a governance vote today
03:32
CK | DeFiance
looks good, everyone gets something that should help community morale.
it will help the dapps if there is a stablecoin available (USDC/USDT/BUSD) asap in LUNA 2 btw, stablecoin is crucial to most current dapps
03:33
Do Kwon 🌖
We have bridges committing, and Tether native still slated to launch
03:33
stablecoin support should not take long
03:33
CK | DeFiance
got it. will there be an 'official' one? if more clearly communicated, will help minimize changes required to dApps seeing UST as official stable
03:34
Do Kwon 🌖
Still negotiating, will have visibility shortly
03:34
CK | DeFiance
will CEXs support airdropping vested tokens btw? may be bit messy
03:37
Zon
can we ask circle as well
03:37
usdc is more defi vibes innit
03:38
Do Kwon 🌖
it is what it is
03:38
can you connect with Sam N?
03:40
Dan - ChainofSecrets.org
Good question
03:41
Do Kwon 🌖
we've been coordinating, and i think most will.
03:41
we will be reaching out to exchanges to get their public support as well.
03:41
CK | DeFiance
sounds good
03:42
Dan - ChainofSecrets.org
Ok great thanks
06:37
Tayo | 01node
I guess this will be a great one, if we can get their support
Binance in particular cos they have been quite vocal in all these
06:40
Sergio 'Chinoman10' Rebelo
They've been recorded too.
07:08
Daniel Pratte
Quick question: if a validator plan on validating on both networn (the legacy terra and the new one, how would that work? should we prepare a second validator before the fork, one would fork and one would continue?
07:10
Do Kwon 🌖
Yes. two validators
07:10
hopefully both networks are running for some time
07:11
Daniel Pratte
So, how do we chose witch one to fork or not?! One will have all the staking, and one wont even be in the activeset
07:14
Do Kwon 🌖
i dont follow the question
07:15
Daniel Pratte
I have 1 validator, staked in the activeset (top 130). If I do a second validator (one for the legacy terra, one for the new fork), I dont have 2 validator in the activeset…
07:15
Jared | TFL
you will have one validator in each set. They are seperate chains.
07:16
Daniel Pratte
So the end result will be to setup a 2nd validator using the same keys on a different chain?
07:16
Jared | TFL
you can use new keys.
We will coordinate all this in more detail in discord.
07:18
The User
@dokwon NFT-wise, they will be duplicate by the fork. Are you planning to set some conversations with project leaders around the coming issue coming up ?
07:20
Do Kwon 🌖
wdym? can you explain more?
07:24
The User
when the chain will fork, everything will be duplicate. LUNA/UST/Apollo/Astro, LP, etc. everything.
07:24
Just like it's going to be the case for NFTs.
07:25
my question is; for any team not aware of that principle with fork. At what moment do you consider best for you to alert them haha
07:29
Seb
Has any Oracle service expressed interest in participating in the new chain ?
It would be great to add the Chainlink BD here (
@CL_ChrisC @CL_Johann)
07:36
Alex Ast | stakesystems.io
07:36
Claudiu Nae | 01node.com
We can t keep up with messages like this anymore :)
07:36
Alex Ast | stakesystems.io
Just to remind you all when you vote or decide stuff, that there are human lives at stake
07:39
Roman
the problem is that there is no money, and the result of the vote is not important per se, as long as someone does not buy the old token, or buy a new token, there is no money.
07:43
Even more so if there are two chains, it will be even less money. Only one chain should be, imho
08:05
Do Kwon 🌖
no, its not really a fork, its a new network. WASM slate will be clean at block 0
08:05
so everything needs to redeployed
08:20
Vini
It would be a good idea to use the latest CW sdk (1.0), Tendermint (0.35 mempool prioritization) and IBC 3! I'm sure we will all be going to discuss new chain specifics later.
08:21
Do Kwon 🌖
yes, thats the plan
08:23
Jason Stallings (octalmage) 🌖
Band works over IBC, I’m working on a guide for this.
08:23
The others I’m not sure about but I’ll find out.
08:27
The User
okay, gotcha !
09:24
Spaydh 🌘💧
Does this include bLUNA/stLuna/LunaX/cLuna etc?
09:25
Jason Stallings (octalmage) 🌖
yes!
09:26
Spaydh 🌘💧
Thanks for the quick reply Jason :)
09:26
Iron Star Finance
Does the snapshot have the ability to capture liquid staked tokens that were in the process of unbonding?
09:27
Hyung@crescent
sorry guys i have been missing info here but does Terra have plan to re-open the IBC so that Luna holders in other blockchains can transfer back to Terra before snapshot?
09:27
Jason Stallings (octalmage) 🌖
yes! Gov proposal is in progress
09:27
that I'm not sure about, will find out.
09:28
Hyung@crescent
thank you we will vote soon.
09:28
Iron Star Finance
Thanks!
09:29
Spaydh 🌘💧
Please tag me too once you’ve got the answer :)
09:29
Iron Star Finance
Voted!
09:33
Jason Stallings (octalmage) 🌖
yeah you are right, will figure this out as well.
09:47
Hyung@crescent
so from this, i can see that enabling IBC does not allow Luna holders in Osmosis/Crescent to bring back their assets to Terra.
10:02
Evgeniy
how projects will manage airdrop in a new chain? e.g. astroport luna pools?
10:03
Hyung@crescent
also Osmosis/Crescent Luna pools.
10:04
Jess
we're working on snapshot taking mech. astroport pools that have UST/LUNA/bLUNA are covered, and will be credited back to the liquidity providers
10:05
i believe closing IBC channels to certain IBC networks were voted upon in this chat?
10:05
Daniel Pratte
Same for ThorChain LP ? :)
10:06
Jason Stallings (octalmage) 🌖
it was, but now people want to reverse
10:06
Jess
i guess if the prop passes what we'd need to do is rollback the code part for hard block then
10:07
Jason Stallings (octalmage) 🌖
right, another quick fork
10:08
Hyung@crescent
how about “Pre-attack LUNA holders: 35%” ? some Luna were in Osmosis/Crescent LP back in 5/7
10:08
Jess
but as we all know gov prop takes time. if it deems, let's try and come to an agreement in this chat
10:09
Spaydh 🌘💧
I believe it was really important to Sunny, to protect Osmosis from the repercussions of the depeg (as Terra assets were pooled and bonded with OSMO).
10:10
Chauncey St. John 🌔😇 | Angel Protocol
What’s the main rationale for aUST pre-peg snapshot but not UST?
10:11
There was a big ecosystem push towards encouraging off-chain UST liquidity
10:11
BigB - Smart Stake Validator - Dont Trust DMs
and its equally important for terra community to have access to their coins and as Loop mentioned, there are ATOM, SCRT, other assets that need to go back to their respective chains.
10:12
Spaydh 🌘💧
I understand that perfectly. I am not arguing for or against the reversal of the channel closure, simply providing context for why the changes where made in the first place.
10:27
THORchain BULL
Way better proposal. I like it.
10:39
There was about 150m in liquidity on tc, I can work with the team if you want a snapshot
10:40
LPs are still stuck there while we figure out asymetrical withdrawals into sym
10:45
Alex Ast | stakesystems.io
Any ideas why the previous proposals vanished?
10:46
There was a proposal on increasing the fees and burning them, I think we should take this into consideration
10:47
And also maybe add this to the master plan
10:48
Jess
it was becoming a rant board, and we decided to whitelist visibility on station
10:49
i'm afraid snapshot exporter should solely be computed from onchain data, at least technically. will bring this in our daily in hours tho..
10:50
GJ Flannery
@kjessec LMK if Flipside can help support here
10:51
Jess
thanks! one of our analytics manager is camping on flipside 24/7 all the time chooching some metrics already
10:54
One GAIA
pls pls pls get kucoin in this, Do
10:58
THORchain BULL
They can export on chain records from lps. LMK how you need it
11:07
Aleksandr Bezobchuk
Question, does "staking derivatives" include LPs on IBC connected chains such as Osmosis?
11:07
or are LPs screwed?
11:16
Could we move over to discord, where the conversation can be segmented, and have a room where the governance that DOES need our attention (such as 1299 and 1623) can be pinned?
12:06
Jack Zampolin
one note on changing the denom from the old chain
12:06
this will likely break IBC
12:42
Jason Stallings (octalmage) 🌖
may be more of a marketing thing
12:42
than an actual code change
13:29
One GAIA
Pre-attack aUST holders 500K whale cap:
Does this exclude wallets over 500k or every wallet gets something, up to the first 500k ?
13:41
luigi1111
surely has to be the latter
13:47
The User
Think its up to 500k
13:48
One GAIA
that's also my understanding... but worth double checking
13:48
The User
@dokwon can you validate this ?
13:51
One GAIA
also for "Post-attack UST holders: 20%: 15% unlocked at genesis; 85% vested over 2 years thereafter with 6 month cliff"
for all UST one holds as of may 27th seems like buying into TerraV2, but the funds are not going into Terrav2 but into the hands of the gamblers trading UST until the launch
14:32
Ignacio - Stakely
That proposal has no sense, it won't work
14:33
Viktor Bunin
Then it could be voted down, no?
14:33
How many others are missing?
14:43
Jared | TFL
It’s a txt proposal…
It literally won’t work.
Not passing any judgement. Just advising on how governance works.
As a txt proposal it can’t change the market module.
14:44
Viktor Bunin
I understand, thank you. The point is that it's not being shown at all despite having 70m votes, and it's not clear how many other proposals are not being shown.
14:44
Alex Ast | stakesystems.io
I don't agree with not showing proposals
14:45
It looks fishy from the outside
14:45
And the same with the Terra 2 announcement on the website
14:45
etienne | Setten
it's available on other front ends tho:
https://ping.pub/terra-luna/govbut agree, there could be some more elegant way to do this probably
14:45
Alex Ast | stakesystems.io
Before the vote ended
14:46
Recent events don't look pretty, I have a bad feeling about this
14:46
Claudiu Nae | 01node.com
Why we have consorship on governance?
14:47
Alex Ast | stakesystems.io
Because there are people who can do stuff behind the curtains
14:47
I am reconsidering my vote
14:47
Zion | TFL | OC
We needed to prevent spam and scam proposals that were being put up that could phish users or prevent people from voting on viable props due to all of the noise. We’re currently working on releasing some comms around this and whitelisting viable props again. Please stay patient with us.
14:47
Claudiu Nae | 01node.com
This is not right :)
14:47
Jared | TFL
Have you looked at is uncensored?
14:48
People can't find proposals that are legit and not just spam
14:48
Alex Ast | stakesystems.io
Bullshit
Park | Pan | Figment invited Elizabeth | Figment
14:48
etienne | Setten
maybe there could be a button like "show all proposals"
14:49
Alex Ast | stakesystems.io
This is not how on chain governance works, mate
14:49
etienne | Setten
well, it's a centralised front end
14:50
Konstantin | BTC.Secure
This is good option.
14:50
Jared | TFL
I don't think everyone needs to vote on something like this...
etienne | Setten invited AtoZ (Will not DM first)
14:50
etienne | Setten
@atozborg would you have some spare time for a PR ser? 🙏
14:51
Zion | TFL | OC
The decline in LUNA’s price completely eliminated any barrier to anyone posting proposals. Bad actors (along with spammers) were just taking advantage of this by buying luna cheap and then posting phishing props. I agree with Etienne that we could have a “show all proposals” button for full transparency, but that would include all of the phishing props as well unfortunately…
14:51
Alex Ast | stakesystems.io
You clearly do not understand what is at stake, and try to cut corners to justify your position.
14:51
AtoZ (Will not DM first)
I don't have access to message's history
14:51
etienne | Setten
oh, adding a "show all proposals" button on station governance
14:51
AtoZ (Will not DM first)
On it.
14:52
Jared | TFL
I didn't make this change. I am speaking as a user. It is hard to tell what isn't spam.
14:52
AtoZ (Will not DM first)
Note that they are taking 8 hours+ to merge a one-line PR. Not sure it will be accepted.
14:52
Jared | TFL
There are also proposals that are strait scams saying "terra 2 is here click this link"
14:52
etienne | Setten
im sure
@Jared_TFL will pass the word
14:52
Alex Ast | stakesystems.io
Instead of hiding them, a minimum cap on voting power is way better
14:53
Park | Pan | Figment
This is a good approach, raising the min posting req
14:54
Alex Ast | stakesystems.io
There was also a proposal of raising the min req. to post a proposal to ~ 500 USD
14:54
Jared | TFL
we are merging now.
14:54
I didn't have access to that repo. I found someone to merge now.
14:54
etienne | Setten
oh someone made that pr already?
14:54
it takes a long time to pass
14:55
Jared | TFL
for 1273 specifically, that's the PR
14:55
etienne | Setten
ah I was talking a pr to add a "show all proposals" button
14:55
I think it would be a good middleground
14:56
Zion | TFL | OC
@Mother0x @alexandruast The problem with raising the
$LUNA cost to post is that the price of LUNA is volatile right now, so the price to post a prop could fluctuate dramatically.
14:56
Jared | TFL
If that is PRd we will merge that too.
14:56
etienne | Setten
awesome
15:00
Zion | TFL | OC
The fluctuation could end up rendering posting a proposal economically prohibitive
15:02
Jared | TFL
This proposal is now displayed if you refresh your governance page.
15:02
Park | Pan | Figment
How dynamically can you adjust the parameter?
15:02
Jared | TFL
It takes a governance vote to change.
15:03
Park | Pan | Figment
So we'd have to adjust the parameter to protect gov proposal spam with a continuous gov proposal that accounts for price
15:03
AtoZ (Will not DM first)
Working on it
15:04
Mr.K
The current governance list is like a trash can. It's too cluttered to make a distinction between necessary governance. I think it's a very useful feature from a user's point of view to show meaningful governance by whitelisting it.
15:05
etienne | Setten
proposals are quite laggy, imo the current situation: no staking allowed, low initial cost is good
15:05
except from the front end spamming problem
15:05
Alex Ast | stakesystems.io
The problem is that this approach opens the can of worms
15:09
Alexander Kondakov
I agree with Alex. Leave as be and promote direct links on other resources, pin the important proposals to the top etc. - this would be useful. The current version looks very bad from the outside.
15:29
Zion | TFL | OC
The problem here is the same as one would need to determine what an “important” proposal is.
15:30
It also doesn’t help with scams as those would still be showing up along with all of the rest of the proposals
15:30
Jack Zampolin
some of the proposals are literal phishing sites
15:33
Jared | TFL
literally. We are going to harm users by displaying them.
15:33
Alex Ast | stakesystems.io
It's unfortunate that no one saw it coming. At the current price, one could spam millions of proposals and potentially crashing the network.
15:40
Jason Stallings (octalmage) 🌖
Will get an answer to that tonight
15:42
Sunny Aggarwal 🧿
Ok
15:42
Osmosis LPs were doubly rekt because not only did they have their LUNA go to 0, they lost all their OSMO to IL
15:42
And they were 2 week bonded just like Terra stakers, long term committed
15:44
Jack Zampolin
And the cosmos eco has really leaned in here
15:44
Telling that community that you don't care about them is a quick way to lose a major ally
15:45
Jared | TFL
we are reviewing. We want to make it come in line at least a bit with the current conventions in that repo.
It won't be long. Standby please.
15:57
We are going to wait on guidance from upper leadership. Please standby a couple hours.
There are a lot of concerns around both paths of actoin at the moment.
15:59
Jack Zampolin
Hey Terra peeps, the cosmos community has come to help y'all repeatedly both during this crisis and before during others. Continuing to ignore us is a terrible idea.
16:01
Jason Stallings (octalmage) 🌖
16:02
BigB - Smart Stake Validator - Dont Trust DMs
100% with you on this
16:03
Jack Zampolin
I know you personally aren't but you also understand better than most the history here. Cosmos has always been treated as an afterthought
16:03
Many of our community bought into the terra vision
16:04
and we pooled our assests with ust
16:04
those funds are now completely down to 0
16:04
and we have jumped in and helped as much as we can fight the technical fires
16:05
Jason Stallings (octalmage) 🌖
Totally understand and appreciate that. At this point I think it’s more of a technical issue. Do we have an idea for how this could work? Basically get a snapshot of holders, produce their Terra addresses with bech32, and add to genesis?
16:06
please work with sunny on this
16:06
Alex Ast | stakesystems.io
What about the pools?
16:06
etienne | Setten
Sure, thank you Jared!
16:06
Jason Stallings (octalmage) 🌖
Sunny said they’ll be included in the snapshot.
16:07
Alex Ast | stakesystems.io
Awesome
16:07
Zion | TFL | OC
TFL would be in a difficult legal situation if we were to knowingly display scam sites to users. We’ll have to discuss this internally and decide if this makes the most sense. After thinking this through, I’m not sure it makes sense. We should instead probably focus on getting all viable proposals whitelisted for people to vote on and continue protecting users from scam sites. To your knowledge, have all viable proposals been whitelisted at this point?
16:08
AtoZ (Will not DM first)
It took 8 hours to whitelist one proposal. I don't believe it is a solution.
People are taking this "whitelist" as censorship and fraud. It is not better in my opinion.
Instead, we could add a disclaimer when clicking the checkbox.
16:10
etienne | Setten
I understand, it’s completely fine to me. There are other fontends
16:16
Zion | TFL | OC
I definetly understand where you’re coming from ser. We’ll discuss this internally today and determine the best course of action moving forward. We appreciate all of your feedback!
16:25
AtoZ (Will not DM first)
22:13
Frank Jia
It's looking like GP will be validating Terra V2.
@Jared_TFL @Chinoman10 can you add me to the necessary Discord? frankfka#6780
22:30
Jared | TFL
yep yep, dm
22:44
MC — Marte Cloud Validator
Jared can you add us as well
23:15
Jared | TFL
For sure, are you going to validate on the new network?
23:17
BigB - Smart Stake Validator - Dont Trust DMs
23:23
Todd [ block pane ]
I contract for the Aardvark team to run their nodes. Aardvark is 100% for submitting a gentx on a new network too. So many messages to read here, not even sure who to tag for getting in correct chats…
23:23
BigB - Smart Stake Validator - Dont Trust DMs
23:28
Claudiu Nae | 01node.com
@Jared_TFL there are 2new discords?
23:30
Jared | TFL
There is one for validators who are going to validate the new chain.
23:31
There are like... I dno how many for people who just want to talk about proposals and the future.
23:32
A lot of people splintered off since this telegram group was formed. I'm not keeping track. Having to focus on the task at hand.
@Chinoman10 is in one of them, he can send invites to that one.... (sorry Chinoman, I don't know who else can do that if you want to tag them in)
23:58
Claudiu Nae | 01node.com
Got it
00:15
Alex Ast | stakesystems.io
I don't agree with how events unfolded recently, so
#no_with_veto from us.
01:37
Neece | SolidStake
So did we.
The enthusiasm to continue is great to see, however the solution doesnt rectify the problem or address the communities concerns, of which there are many. This just seems like a way to ignore all of that and pass the buck to the community.
What is being proposed is nothing short of demeaning. What is terra without stables, it's nothing. I understand the need to focus on saving the Devs but most apps focussed around the UST stable, so if that's not there then this point is bollocks.
The focus should be on the investors who lost all their UST and Luna value and transparency on the events that unfolded. Simple. Until that is the focus, we vote no with veto to these shameful proposals.
01:38
Mr.K
There are many validators on the v2 validator list that have not declared support for forks on Twitter. Is this optional?
01:48
I think validators who will participate in v2 should participate in all of this together.
01:49
Roman
where can i see this list? we have not yet decided whether we can qualitatively maintain two validators or not
01:51
Can you provide more details on what exactly led you to this decision?
01:52
Aries @SynergyNodes
I think Twitter post in support of v2 is not mandatory. Its only to public declare that they support the new chain. If many validators are arleady there on v2 list and not yet posted a twitter, most likely they are going to validate on new chain.
01:52
etienne | Setten
yeah interested too
01:52
Aries @SynergyNodes
+1
01:57
Alex Ast | stakesystems.io
stake.systems is a community validator, we don't have any foundation delegations, our stake is organically grown by the community, so we must listen to the community. The community is against the fork.
01:57
etienne | Setten
What metrics are you using to claim that the community is against the fork?
01:58
AtoZ (Will not DM first)
Interested to know that too.
01:58
Alex Ast | stakesystems.io
I have my own telegram channel with my stakers
01:58
etienne | Setten
Personally all the people I know that are involved or invested in the ecosystem for a really long time are for the fork
01:59
And all the arguments I receive against the fork are always this kind of broken data:
01:59
ok makes sense then
01:59
Aries @SynergyNodes
ok. But, did you explain your personal opinion too? Cause, most of them may be influenced by outside noise.
01:59
Roman
Please share it. If possible
01:59
etienne | Setten
such as these kind of stuff that are spammed beyond reason
02:00
AtoZ (Will not DM first)
How can you ensure that people who joined are really your stakers? We are all raided.
02:00
Alex Ast | stakesystems.io
I expressed my opinion, but after I saw how things evolve, I don't want to be part of this
02:00
Most of my community is 2 years old
02:00
I have members there since the beginning
02:00
Aries @SynergyNodes
This is being used in wrong way. You cannot trust that poll.
02:01
etienne | Setten
sure, that's what I meant
02:01
Calin Chitu
I still support the fork, I hope it will happen asap, as I’m getting tired of this organised spam protest
02:01
etienne | Setten
not a single of this data point makes sense. it's more like the BSC luna flipper army opinion
02:02
Alex Ast | stakesystems.io
I fail to understand how the majority of my channel members could organize themselves and be against this if it's soo good
02:02
AtoZ (Will not DM first)
Do they understand than they can still activate a burn on LUNC even after the hardfork?
02:02
Alex Ast | stakesystems.io
I also have some points against it, given the recent events. I don't like it.
02:02
Roman
we haven't voted yet, but we're leaning more and more towards the ABSTAIN option. Our task as a validator is to ensure the operation of the network, but what the network should be like, how it should develop, is not up to us, but to the delegates, we are trying to convey this to them, but our telegram channels and twitter do not have a large audience
02:02
Alex Ast | stakesystems.io
Yes
02:03
Aries @SynergyNodes
Its easy, they are being influenced by the twitter noise. Well, in your case, you cant do anything.
02:03
etienne | Setten
what's the "recent envents" you mention often?
02:03
Alex Ast | stakesystems.io
Hiding the proposals with the reasoning that they are spam
02:03
etienne | Setten
I don't think anyone is saying that, I respect your choice, just interested in the reasons
02:03
Alex Ast | stakesystems.io
Do not stepping off the Terra2 initiative
02:03
Aries @SynergyNodes
yes, I too belive so. We have to focus on important things now. Burn on LUNC can be done later.
02:04
etienne | Setten
ah damn, because of this?
02:04
Aries @SynergyNodes
ya, this is a valid reason. However, it may be necessary becasue of too mush spam. May be - as someone pointed out, we need to have a button saying - show all proposals.
02:05
Alex Ast | stakesystems.io
Assets being moved from Terra1 to Terra2 - which by all means is kinda taking the stuff from business 1 and moving them to business 2 just because business 1 is bankrupt. It's kinda stealing, you know...
02:05
etienne | Setten
I think it's good to remember that terra station, while being the most used wallet out there is a centralized service owned by TFL. It's open source, anybody is free to host it on its own or use a different client (they actually are other front ends with all the polls displayed).
Decentralization on the front end comes from the fact that you can run MANY front ends on top of decentralized blockchain technology
02:05
front ends will never be decetralized with current web tech
02:05
Calin Chitu
Why do we need proposals to launch a new chain in the first place?
02:05
etienne | Setten
and will always be owned and subject to legal considerations by a single party
02:06
Seb
Which assets are going to be moved ?
02:06
Alex Ast | stakesystems.io
Because assets need to be taken from Terra 1
02:06
Aries @SynergyNodes
As i understand, its a new chain. Not a fork. And, projects have to decide if they want to remain in the current chain or move to new chain.
02:07
Calin Chitu
What? They can’t be “taken”. There are two diferent chains
02:07
AtoZ (Will not DM first)
It is a new chain/hardfork, no asset will be moved.
02:07
etienne | Setten
(and also I think it makes sense to hide literal scam proposals when thousands of new retail investors are flooding on ecosystem)
02:07
Jason Stallings (octalmage) 🌖
for sure, it's clear there's some misunderstands happening.
02:08
Jason Stallings (octalmage) 🌖
I'll see if we can put together some docs that better describe the process.
02:08
etienne | Setten
I'd like to ask you to reconsider
02:08
Alex Ast | stakesystems.io
Some of you here clearly don't have any knowledge of economics.
An asset is anything that brings or lower the economic value of an entity.
02:09
Jason Stallings (octalmage) 🌖
and you voted yes for the burn proposal?
02:09
etienne | Setten
If we can skip the ad hominem that'd be cool :)
02:10
Seb
Maybe you can be more specific about which assets will be stripped away from the current chain and ported over to the new chain in that case
02:10
Aries @SynergyNodes
who posted yes for the burn proposal? Does people not know that 99% of the volume is on CEX and NOT on chain? The proposal does not make any sense at all.
02:10
Jason Stallings (octalmage) 🌖
bingo
02:10
Zon
You can browse all voting proposals by clicking the voting tab already
02:11
etienne | Setten
oh, didn't even know that, nice
02:11
PFC
Sigh.. 1692 should be disabled as it's illegal
02:13
etienne | Setten
yeah, literal death threat
02:13
Lists and instructions on how one person can email all of you at once are being circulated.
02:14
PFC
Do you have a link to the sheet?
02:14
AtoZ (Will not DM first)
02:15
Alex Ast | stakesystems.io
I personally don't want to be part of a chain that thinks it's ok to just take software, developers and everything Terra 1 had and move them to Terra 2. In the past, everyone just pushed this idea that a blockchain IS an entity. Well, how is Terra 1 compensated for this? All development happened on Terra 1 until now.
02:15
AtoZ (Will not DM first)
Report it as "Spam"
02:17
Jason Stallings (octalmage) 🌖
so what's your suggestion? Burn proposal?
02:19
Alex Ast | stakesystems.io
I stated my suggestions before:
1. Terra 2 must be without DoKwon
2. Terra 2 must start from scratch without taking any property from Terra 1
3. Terra 2 must have completely new leadership
02:20
Basically, I just agreed for a fork, not for a takeover
02:21
What's stopping this from happening?
02:22
Roman
we all know that crypto in its current form is a zero-sum game. when someone wins, someone loses.
02:22
Alex Ast | stakesystems.io
Well, tell that to the millions who lost their life savings.
02:23
Do Kwon 🌖
Not sure what to do guys - if i dont do or say anything, they say im deserting the community
If I try to find a solution they say I should step down
02:24
Alex Ast | stakesystems.io
I personally have nothing against you, Do. You did everything in goodwill.
02:24
George Bunea | Syncnode
you can make your own fork, there can be hundreds of forks, the majority will decide where they want to adhere or not. Also all the noise is mainly caused by the people that have no idea how things work, they didn't even understand how UST was desigend. Their missunderstanding that the burning will lead to UST peg being restored is completly wrong. They are simply hanging to a hope with little understanding
02:24
AtoZ (Will not DM first)
It is really sad for them, we have all lost a lot. But I don't believe we should be responsible for people putting their life saving on a crypto market.
02:24
etienne | Setten
+++
02:24
I think my main thing is that this will not happen
02:24
Alex Ast | stakesystems.io
But the project failed. In business, when this happens, the leadership resigns.
02:25
David Koh
Please try to find a solution sir. Definitely think that TFL still has a part to play in the Terra comback, although it cannot be the dominant driver but be more community driven.
02:25
George Bunea | Syncnode
I would always preffer to take the road with a man that failed and still tries instead with someone that has no track record. Failure is one of the situation where you learn the most valuable lessons
02:26
Roman
terra 2 starts from scratch, as far as I know, each delegator from the old network will get a proportional share in the new network, the old network can continue to exist, am I right?
02:26
etienne | Setten
I think TFL funds being excluded from the fork is a good step in that direction
02:27
Alex Ast | stakesystems.io
this is true, but the main concerns, at least in my community, is that everything terra 1 had is being taken away without their consent. They feel like they are being robbed.
02:28
What people feel is the ultimate important thing
02:28
George Bunea | Syncnode
but terra 1 remains, nobody is takin anything from anyone. Now most of the people are biased and we can't rely on their feelings
02:28
etienne | Setten
so projects should not be able to willingfully migrate to terra v2? or am I misunderstanding?
02:29
AtoZ (Will not DM first)
I believe there is a misunderstanding here. Nothing is taken from Terra 1. Project leave or migrate if they want to.
02:29
If Terra 2 does not exist, those projects would leave to Juno or Osmosis or any other chain if they want.
02:30
George Bunea | Syncnode
exactly
02:30
etienne | Setten
yep
02:31
Peter Chainlayer
To me ultimately the current Terra chain is unusable (376.69 M (0.01%) staking ratio). burning that amount of tokens is simply impossible, there are probably accounts that have billions of tokens, all they have to do is not spend it until they have a majority of tokens (if they haven't already). I haven't seen a single proposal that would actually fix the current chain (even if I received 100+ emails and loads of msgs in our TG as well implying it can be fixed)
02:32
I don't know if terra2 will fix it, but at least its a viable option
02:33
AtoZ (Will not DM first)
Yes, the current chain would be tough to fix and maintain since, like everyone like to say, it is built on a stablecoin - which failed.
The only viable option is to move ahead and create a new chain, saving all the project that does not rely on UST, and start building from there.
02:34
NGINE | BlockNgine Validators
We should probably commit to adding a burn to Terra Classic after the launch of Terra(when there is spare bandwidth) just to make people happy
02:35
Peter Chainlayer
aside from that the only people with a vote at the moment on Terra (in onchain governance) are people that had Luna at the time of the first chain halt since we removed staking then. So we can't really go on any percentage there if you ask me, UST owners don't get a vote here either, for all we know all UST owners might be in favor of a Terra2
02:38
George Bunea | Syncnode
a solution might be denomination, but that's another story. Considering the amount of LUNA that was accesible for pennies, I 100% share your point of view.
02:38
Peter Chainlayer
Also, if anyone has a simple idea of doing that, I'd be interested in seeing the vote tally of both 1623/1273 if you leave the validators out of the voting (both in stake weight and in # of people). That would actually give a good indication of where the community really stands perhaps
02:39
(gonna try to whip that up myself using the LCD)
02:42
15311 votes for 1623 and 1808 for 1273
02:42
Alex Ast | stakesystems.io
It's like saying that it is ok to hire people from a failed company 1 to build company 2 because, if not, they will be hired by other companies, anyway. While company 1 is still owned by stakeholders.
You can get very nasty charges for that, for further economically crashing the entity.
It is not important what the final result is, as long as the community trust is lost.
Luna cannot exist without community.
Luna2 must have nothing to do with Luna1, zero interference.
Thus, Luna2 proposal on Luna1 governance board is a moot point.
Let the team decide individually what they want to do.
If the result is a chain governed by some centralised elite, then I am out of it.
02:42
Peter Chainlayer
thats pretty telling I guess
02:46
not looking at stake weight:
"VOTE_OPTION_ABSTAIN"
1623: 112
1273: 15
"VOTE_OPTION_NO"
1623: 1533
1273: 32
"VOTE_OPTION_NO_WITH_VETO"
1623: 2521
1273: 25
"VOTE_OPTION_YES"
1623: 11171
1273: 1736
02:49
Alex Ast | stakesystems.io
That "Terra 2.0 is Nearly Here" on the
https://www.terra.money/ website, before the end vote date, was a very bad move imo. It destroys trust by creating narratives that the thing was planned before (even if it wasn't).
02:51
etienne | Setten
They are free to go wherever they'd like. if they prefer going to company 2 rather another company, I think it's saying enough
02:53
Peter Chainlayer
I think 11171 people might disagree with that 🤷♂️its as Do states, if you don't do that people complain why nothing is happening, if you do put it on people make a narrative. It looks to me like the people in favor of terra2 are just not complaining about the burn proposal (but just ignore it or not care) whereas people in favor of the burn proposal have a strong sentiment against a Terra2. That doesn't make either option wrong, as NGINE pointed out, we can still do the burn proposal on Terra1 if people so please
02:53
(however, someone needs to code that up and so far I haven't seen much developers on Twitter/TG. the current proposal isn't really executable afaict)
02:58
Jason Stallings (octalmage) 🌖
that's 11171 individual wallets?
03:02
Peter Chainlayer
yeah it should be
03:02
used /cosmos/gov/v1beta1/proposals/1623/votes?pagination.limit=10000
03:02
Jason Stallings (octalmage) 🌖
that's great data, thanks for pulling that!
03:03
Peter Chainlayer
doesn't show vote weight unfortunately, but number of wallets is already a nice metric if you ask me
04:19
Do Kwon 🌖
swap fees went up a lot, and its coming out as staking rewards
04:26
Evgeniy
thx for clarifying!
05:24
Sergio 'Chinoman10' Rebelo
FYI the new Discord isn't just for people who are in agreement with the last proposal.
It's literally a place for all founders and validators to join and have a voice for the many different topics that need discussing.
05:27
somethingelse (not sure what his TG handle is), and GJ from Flipside (also not sure on the handle) can create invites as they are Mods.
Any TFL member can also make them, and last but not least... the Ops team can as well. On that team there's Trevor Ogata (TIX/Angel/TBA (original, not the fake one)), Jeff from the original TBA as well, and one or two other people from Intern Capital.
06:43
BigB - Smart Stake Validator - Dont Trust DMs
@Somethingelse0 - not in this group though
06:50
Wanted to get a sanity check on an amendment
06:50
- Builder Alignment Program - distributed by 30 day moving average from pre-depeg of the protocol project's market cap, not TVL. This is to accommodate feedback that TVL outcome is vastly different depending on the nature of the protocol, while marketcap is a rough proxy of the "usefulness" of the protocol.
- 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 1 year 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 supply.
06:50
How does everyone feel about these changes?
06:51
Spaydh 🌘💧
How do you calculate the share of Lido on Terra in Lido’s MC though?
06:52
Chauncey St. John 🌔😇 | Angel Protocol
I agree with these changes but will plead again that the 5% gets added to pre-peg UST allocation
06:52
Do Kwon 🌖
has lido committed?
06:53
Chauncey St. John 🌔😇 | Angel Protocol
I’d love 1% staked for social impact to build a giving pledge into Terra 2.0s core but understand this is unlikely (will again make the point that PR is important here tho)
06:53
Do Kwon 🌖
Could we make a gov proposal from the community pool once the network goes live?
06:53
I will draft it together with you 🙂
06:53
Spaydh 🌘💧
We need the DAO’s approval since it’ll be a different chain, the proposal should go live today.
06:53
Chauncey St. John 🌔😇 | Angel Protocol
Great call, thank you 🙏
07:07
Roman
why are we making changes if there is already a vote going on?
07:07
Do Kwon 🌖
We could make an amendment
07:07
and ask people to change their vote if they disagree with changes
07:07
I feel that in the grand scheme of things these changes don't really change much
07:08
but many people feel strongly
07:08
The User
I wold go in the same sense as
@ChaunceyStJohn I’d add it to ust prepeg
07:09
But if we changes proposal now, I feel like people vision will mostly go toward « at the middle of things, the give us less and take more for them as community pool »
07:10
Roman
I agree that this can be done, but it looks like that the current proposal was offered in a hurry and then even more people will be nervous
07:11
The User
People are already irritated that their post depeg worth almost nothing, not sure removing a 5% will help to the cause.
I’ve been making what I could to explain with more details the situation on twitter and bring people on board, but I wont be able to pass an amendment
07:12
Do Kwon 🌖
Ok - do you guys suggest we just leave it alone?
07:13
The User
That’s what I’d suggest to be fair.
Only thing that could go along is the 15->30% as it is beneficial for everyone
07:13
But changing allocation in itself sounds dangerous
07:14
But would need to make sure everybody knows it has changed
07:19
Roman
I would leave the current proposal as it is until the end of the vote and would launch a separate vote to correct certain points of the proposal. the iterative process is good, it is impossible to think through everything in one go
07:21
Hyperion
Vote isn't binding anyway as this is just a fork but in the interests of time an amendment is probably better
07:34
CK | DeFiance
Agree with
@RomanSvet, better launch a separate vote at the end of the current proposal so things seem less hectic.
07:35
Agreed on this point. Changing allocation again is reopening the Pandora's box.
The debate on if late buyers are 'speculators' or 'people saving the peg/LUNA price' will never end.
07:35
Do Kwon 🌖
How about just increasing float
07:35
Not controversial at all
07:35
CK | DeFiance
this is totally right way to go
07:35
else the chart will look like most alts now lol
07:36
down only after initial pump
07:36
Do Kwon 🌖
By how much do you think
07:39
never did simulation, need to ask experts on how much liquidity there will be to absorb initial selling pressure
07:39
Do Kwon 🌖
By 50%, or 15–>50
07:39
CK | DeFiance
latter
07:39
CK | DeFiance
but just an arbitrary number now, never run the maths
07:39
you want people to focus on the projects not the initial Luna price movements basically
07:41
allocating tokens to project by a blend of TVL and market cap should also not be controversial
08:19
Sergio 'Chinoman10' Rebelo
Many essential projects/teams didn't have TVL. That metric is heavily biased.
Yield Aggregators, DEX's and borrowing/lending like Apollo DAO, Spectrum, Astroport, Mars Protocol, Loop, Anchor, etc. were the "blackholes" of TVL, but what about Coinhall, Smartstake,
Terrasco.pe (what happened to it btw?), Apeboard, GraviDAO (Lunar Assistant), Yield Foundry, and others?
08:27
CK | DeFiance
yes I agree, saying blend of TVL/market cap just to avoid total change from original proposal
08:48
Joe | Coinhall
+1. Same argument for Smartstake, coinhall that have tens of thousands of users, high traffic but no token hence no marketcap
08:51
Frank Jia
Sure, can you add me?
08:52
Sergio 'Chinoman10' Rebelo
Thought you were already in.
Sending a DM.
09:30
MC — Marte Cloud Validator
yeah 🙂
09:48
Jared | TFL
❤️ Will coordinate in DM, happy to have you.
10:21
Yeon
Terraswap has TVL. but no marketcap.
11:38
Chauncey St. John 🌔😇 | Angel Protocol
@Jared_TFL Angel Protocol will continue to validate old and new chains
11:39
Jared | TFL
Excellent. Good to have you, will connect in DM
11:39
(Check discord pls ser)
SJ Park 🌖 invited Chris Amani | Terra
12:05
Hero is building an IBC NFT bridge. And enable Terra NFT owners to bridge their Terra NFTs to Terra 2.0 chain
12:05
Currently trying to figure out if there is a way to get any financial support anywhere in Cosmos for this
13:32
schultzie | Lavender.Five Nodes
I may have missed it, but has the new github repo been created yet?
13:33
let's get this party started with gentx, etc.
14:13
Dan - ChainofSecrets.org
We’re you guys also part of the active set pre depeg
14:24
Jason Stallings (octalmage) 🌖
not live yet, but soon!
14:40
Does anyone know how this would work? Someone just reached out to:
“Yo! Never really reached out to you or established rapport…saw the size of your loss and I’m in the same boat. Wiped out a decade of grinding in this space. Condolences bro.
That’s not why I’m writing tho. Wanted to get your thoughts on my linked tweet. Am I tripping or what??? Do you know the edge team? Not as concerned about everyone else as I am about them as they have deleted their discord. A little clarity and communication is needed given the amount of capital involved and that is now up for grabs
https://twitter.com/chadilac0x/status/1527347639766831110?s=21&t=HHA5od3kSvdsgoYWcB4P_QWhat say you Tundra? Pretty sure TFL is working on an index to sort it out but idk. Should I just chill or keep pressing the issue? Any insights?
https://twitter.com/Chadilac0x/status/1527347639766831110”
14:40
Any ideas on how this would be accounted for in the new network?
15:11
Chauncey St. John 🌔😇 | Angel Protocol
Would ask the question to Do. People have been pushing for pre-peg to include UST and he’s said a couple times that’s going to be difficult to track in all its different locations
15:11
I’ll reach out to Edge now
15:59
Evgeniy
We should count locked aUst for sure if possible. Btw is there any plans to migrate Mirror on a new chain?
15:59
Tundra V1
okay, thank you sir
16:08
Tundra V1
I'd rather see these changes get implemented.
Even if it shows that there is some uncertainty about the design of the new network, I think that it's very important that the tokenomics are setup the right way with the right float, otherwise down only risk can kill any new momentum.
I think it would be wise to go in front of the community and talk about these changes / see what the feedback is. If it gets "good feels" from people (which I think it will) maybe raise this fwd as an amendment. I would suggest not waiting until the vote window closes to do this as it's just wasted time.
16:24
Chauncey St. John 🌔😇 | Angel Protocol
+1
16:37
Evgeniy
Is there any chance for bridged luna holders at pre-attack snapshot in chains like solana, aurora etc. to get new tokens?
18:07
MC — Marte Cloud Validator
Amazing! DM anytime 😍
19:27
Will submit this amendment today if there is broad consensus
19:28
THORchain BULL
This is better
19:29
The User
I have a few question for you about LPs. I don’t know if the question is for you or
@dokwon though.
Will LUNAs in LPs be rewarded by the airdrop? Specifically on THORChain
19:30
Do Kwon 🌖
i think the consensus is that its impossible to index all the crosschain luna ... it was bridged to too many chains
19:30
The User
So what will happen with that supply ? Removed from eligible claims ?
19:31
Do Kwon 🌖
i need to understand how the thorchain bridge works
19:31
if it locks Luna up on the terra chain
19:31
and issues a synthetic
19:31
then the thorchain team can simply elect to distribute the airdrop themselves
19:31
The User
That was a bit of my question. If you need me on analytics let me know
19:40
Btw, when should we know if we are eligible for funding ? (I remember filling a form for that posted here or new discord)
20:10
Sunny Aggarwal 🧿
Osmosis community will provide a snapshot of LUNA and UST on Osmosis
20:10
Do Kwon 🌖
can you coordinate with Jason from our team?
20:11
Jason Stallings (octalmage) 🌖
I'll get a room going!
20:12
Jason Stallings (octalmage) 🌖
for sure!
20:14
Sunny Aggarwal 🧿
Sg thanks
20:22
THORchain BULL
Can we do this with thorchain plz? I’l get the snapshot from core team
20:58
Put out the amendments
20:59
Announcement should be going live shortly
20:59
ill speak to JP and see what i can do
21:08
THORchain BULL
Thanks
23:32
NGINE | BlockNgine Validators
I cannot believe how many people are asking me everyday to vote against fork and add burn.
Would it be possible to make a public commitment to adding the burn after the new chain launches when there is bandwidth
and make it more clear both Terra2 and Terra Classic can run in parallel
just to show them we do listen and care about their opinions
maybe we can even ask CZ to send their attention towards him
23:41
Dan - ChainofSecrets.org
Does this snapshot include exchange wallets? Luna & UST?
23:42
Jason Stallings (octalmage) 🌖
I’ve seen a script going around that will email all validators automagically.
23:43
Calin Chitu
Some of them ar funny (some conspiracy theories you can't imagine). I started to read them :))
23:43
Jason Stallings (octalmage) 🌖
Pretty annoying since none of them actually have staked balances. I think anyone can work on the burn, or will likely invoke another fork of the chain and coordination with the validators.
23:43
Dan - ChainofSecrets.org
Thanks 🙏
23:46
Hall Architect | Coinhall
Yea can confirm, we're getting bombarded with emails 🤣
23:47
Aries @SynergyNodes
ya, we too are getting too many emails. I just ignore them. Not even open them.
23:47
NGINE | BlockNgine Validators
I keep trying to tell them and explain why it can't practically work
23:47
but they are so insistent
23:49
Aries @SynergyNodes
Ya, same here too. Someone joined our telegram channel and started posting some info like support the burn and dont support the fork etc etc. I tried to explain to them that it wont practically work and they dont accept. I stopped explaining anymore.
23:55
Spaydh 🌘💧
Hey
@MoonMidas, how are you holding up?
00:02
Midas
Who kicked me out?
James Parillo invited AIRTX
01:30
James Parillo
This is correct. And was by design, no?
02:48
Hi
@dokwon or a tfl member, Is it possible to post the transaction hash of the btc lfg used in defending ust.
Users are hysteric at this point and I feel it is extremely important we try to dispel rumours as much as we can.
Let’s show the community that their voices are heard and all we are doing is in their best interest.
02:48
I really do hope you don’t ignore this
02:51
Ilhan | Staker Space
same here, getting flooded with requests to vote against it. Not sure always how to respond to it and also not sure if they are delegators of our validator. But trying to understand what they are hoping for.
02:51
Claudiu Nae | 01node.com
we as well
02:51
Ilhan | Staker Space
yeah man, never had this kind of pressure as a node-operator
03:13
Tayo | 01node
It’s a whole lot
03:14
Roman
I tell them to vote themselves to override my vote
03:15
but most don't get it
03:17
Claudiu Nae | 01node.com
they do, but they lack the voting power we have 🙂
03:17
AtoZ (Will not DM first)
Most can't, because they are new buyers
03:17
Claudiu Nae | 01node.com
it s mostly small fishes
03:17
AtoZ (Will not DM first)
We are raided from BSC people since CZ tweeted about Luna
03:17
Claudiu Nae | 01node.com
they probably not even staked
03:20
Roman
maybe we should allow delegation, everyone will rush to buy the Luna to express their position and voila, the price of the Luna will go up
03:20
Karma
We are all getting bombarded with requests and demands and It's really just a question of mental health at this point to select what to engage with. If a person can't be bothered to research and know they can override the vote they don't agree with - it is not worth our time to step in as educators in these circumstances. Applaud everyone's perseverance 👏
03:21
Aries @SynergyNodes
delegation on current chain? Thats a bad idea. Cause, its very easy to buy a lot of LUNA and hijack the chain with voting power.
03:21
Roman
So what? You buy, they buy. Market will decide who will own the network
03:23
if the network continues to exist we will have to allow delegations
03:24
Aries @SynergyNodes
ya ya, this will happen. I mean, this should happen. But, when it does happen, we need to make sure that the trusted validators should have enough voting power. I think this can be done if TFL has got all those trillions of LUNA minted.
03:25
But, enabling delegation now, is a bad idea. My personal opinion.
03:28
Chee How
I've a friend who bought the dip, thinking that LUNA would go up. In the end he got 4 million for just a few thousand dollars. I'm sure there are others who have a lot more. How much money do we have to put in to make sure that the chain isn't controlled by an adversary?
03:29
It's probably better at this point to let the dust settle and see how things transpire before restoring delegations.
03:36
Roman
I speak as a validator. I don't care who controls the chain. if someone wants to control it, let him buy and let him stake on the validator. I am sure that there will be many who want to be the king of the network and they will compete with each other, even I will buy Luna to strengthen my position in the network (probably) This struggle will lead to the stabilization of the network. Nobody is interested in investing a lot of money to kill the network.
03:37
Ilhan | Staker Space
Is the goal to stabilize the current Terra Network with V2 in the making ?
03:38
Roman
otherwise I don't understand the point of keeping the network alive. i say why we will be forced to enable delegation back
03:40
Aries @SynergyNodes
Well, I think the plan is to start the new chain, and after that, re-enable the delegation on Terra Classic chain.
03:41
Ilhan | Staker Space
Well I think the network should stay alive right, there are other assets on it and currently this can bemonitored. Also a lot of DAPP coins such as Astro, ANC etc.
What does enabling delegation give you ? It’s just going to be more of a shit-show most likely.
03:44
Roman
well, at least those who bought later but did not delegate do not decide the fate of the network. it was just the fear of losing the network that led to the decision to disable delegation. but in fact there is not much difference, the market would decide what will happen to the network
03:45
it's just my thoughts, after the dust settled and I had time to think
09:14
quick question maybe u guys can help answer for me. my luna and bluna were in astro luna-bluna pool. those count to my luna v2 airdrop right?
13:02
One GAIA
will CEXs that use a single address for deposits be treated as > 10k LUNA or < 10K LUNA?
14:20
Jordan
What will be the airdrop status of UST held hostage within protocol lockdrops?
(Like Kinetic Money for example)
15:50
Jack Zampolin
Congrats
15:51
This echos my concerns
15:54
Jared | TFL
We already worked this out.
Other Mike invited Sturdy
18:35
Trev TIX - Angel - Angel Alliance - TeFi Alpha
Would we want input from a community lead like Cephii?
18:36
He's got some ideas on how to make the new chain successful or at least set us up for success out the gate.
Trev TIX - Angel - Angel Alliance - TeFi Alpha invited Cephii
18:46
Trev TIX - Angel - Angel Alliance - TeFi Alpha
Adding
@EnergyIntensive. (Cephii)
18:47
Vlad
Welcome brother
18:48
Cephii
Hey hey, just need to get history to show
18:52
Cephii
Still can’t see it but it’s ok. My main focus is to build utility for Luna2. We need at least 10 reasons to hold it. Projects using it as a DCA mechanism for users to buy alts using the yield is one thing all projects should consider to drive value into their systems. a dashboard to show all the projects and their staked luna2. So you “stake” your luna2 with projects just like you stake with validators.
18:59
Luna2: collateral, staking yield, utility in dapps, possibly build it into NFT’s, governance, higher yield for longer term holders, rapid unstake (with 10% of luna burned as a penalty), liquid staking derivative built into the core protocol.
19:19
The User
@EnergyIntensive if I can say one thing, I’m so fucking glad to see you in here
19:27
Trev TIX - Angel - Angel Alliance - TeFi Alpha
@TheUserYouKnow we nee all the firepower we got.
19:28
Vlad
Try leaving and rejoining
19:28
Setting has been changed
21:17
Trev TIX - Angel - Angel Alliance - TeFi Alpha
Meeting is done after general updates. There is a proposal in the prop channel in discord so please take a look at that revolving around general framework and process.
If you need help getting into the discord, please talk to
@Chinoman10.
Please make sure to take time for your mental and physical health; I know many of us (me included) have been going days without sleep or ample rest.
Hyperion invited Jimmy Le
Hyperion invited Ryan Lion
07:11
4484
(not sure this been discussed or not cuz I can't see history)
one thing that maybe is not core to the rebirth but still important is the visual representations of Luna Classic vs Luna 2.0.
There needs to be agreement on universal icons. Maybe the blue terra (I see ftx using this for UST now) for old and the yellow for the new? or a totally new icon?
07:30
James Parillo
So we change proposals mid-vote now?
07:30
BigB - Smart Stake Validator - Dont Trust DMs
Different colour is not enough
07:31
Park | Pan | Figment
+1