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So basically the numbers don't add up from LFG's sale of assets to "defend" the peg and their fork really isn't a fork but really a new chain with "intrinsic capital" from the old chain. The need for transparency is precisely what a BK Trustee would do to protect UST holders.
Yeah - creditors need protection *now*, and if we factor in all the debts, TFL is effectively (but not formally) insolvent. What do you mean about intrinsic capital from the old chain? Curious to know more about that line; I see Terra 2 as a totally fresh thing
Yeah, probably better to say "implied equity". Intrinsic value wasn't the best term. Taking LUNA 1.0 tokens and rolling them into LUNA 2.0 tokens at whatever value you / they think they're worth. The re-pricing of tokens in the reorg.
New debts should now include Kwon's personal liability to the tax authority et al since UST holders will look to him personally.
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