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FatManTerra's profile
FatMan
FatMan
FatMan
@FatManTerra

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FatMan

@FatManTerra

FatMan from the Terra Research Forum I provide research, updates, and analysis on the Terra situation as it unfolds. Views are my own opinions.

fatmanterra.eth
Joined May 2022

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    1. FatMan‏ @FatManTerra May 21

      Quite a few people are asking, so here's my long-form opinion on why both UST holders who sold at a loss and people who are still holding UST deserve full restitution. This probably won't interest most of you, but it needs to be explained to those doubting it. (1/8)

      92 replies 118 retweets 638 likes
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    2. FatMan‏ @FatManTerra May 21

      Firstly, the stakeholder groups are massive. 63.4% are still holding and 36.6% sold at least a portion. By alienating one group, you are cutting out a massive portion of the community who suffered just as much as the other group. Keep in mind - most people sold quite low. (2/8)pic.twitter.com/t68a4JNfrI

      7 replies 9 retweets 139 likes
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    3. FatMan‏ @FatManTerra May 21

      Next comes conflicting information. In the face of a crisis (where you're watching your life savings slowly drain away), there's a lot of pressure, and it's not easy to put emotion aside, especially with all of the rampant misinformation and panic present everywhere you go. (3/8)

      2 replies 7 retweets 127 likes
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    4. FatMan‏ @FatManTerra May 21

      Reasonable response #1: you see Do Kwon's tweet about collateralization and hold, but soon, panic sets in. You are losing thousands every hour. LUNA is asymptotically crashing to zero. Smart people are telling you that UST will soon follow: Terra has entered a death spiral. (4/8)

      3 replies 6 retweets 133 likes
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    5. FatMan‏ @FatManTerra May 21

      You've already lost a lot, but there's still some left. What if they're right and UST goes to $0? Though you're owed $1 per UST, you try to salvage what's left in lieu of potentially losing it all. You sell at $0.30 and have realized a 70% loss on everything you worked for. (5/8)

      5 replies 6 retweets 137 likes
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    6. FatMan‏ @FatManTerra May 21

      Reasonable response #2: Do Kwon is deploying capital. It's just a temporary depeg. It's much worse than anything we've ever seen, but he wouldn't brazenly lie on Twitter about reducing debt overhang and repegging UST, right? You can't sell now and lock in a massive loss. (6/8)

      6 replies 7 retweets 154 likes
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    7. FatMan‏ @FatManTerra May 21

      If you sell now, you admit defeat. What if UST suddenly repegs after this 'capital deployment'? That would be terrible and you'd lose everything you worked for for sure. It's better to hold: the repeg is coming any moment now. LFG is deploying capital to defend the peg. (7/8)

      6 replies 8 retweets 182 likes
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      FatMan‏ @FatManTerra May 21

      And, scene. Both of these are completely rational responses to the crisis. Both groups lost too much. I believe both should be taken into consideration and should be refunded *exactly* what they lost pro rata. Did you sell at $0.30? $0.70 refund. Did you hold? Full refund. (8/8)

      11:37 AM - 21 May 2022
      • 18 Retweets
      • 287 Likes
      • UnstableKwon ilmakio.eth Игорь Тимониченко kostas theodorakopoulos fractoshi.eth Spooky Dhan 0xTerraNullius reign
      15 replies 18 retweets 287 likes
        1. FatMan‏ @FatManTerra May 21

          PS. Ethically, our first priority should be pre-depeg savers who bought UST at $1 (they paid $1 and expected nothing more than $1 back per token). Speculators who bought UST (a now suddenly speculative & volatile asset with a fresh risk profile) at $0.30 can take a backseat.

          49 replies 29 retweets 407 likes
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        1. xChadMuska‏ @xChadMuska May 21
          Replying to @FatManTerra

          But isn't it impossible to see how much someone sold for, if it goes from a terra address to a CEX address surely the trail is broken without manually verifying each transaction?

          0 replies 0 retweets 4 likes
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        1. TokToken‏ @Giannip7Tok May 21
          Replying to @FatManTerra

          Totally agreed..T2 plan doesn't consider this, but can be done for ust refund. The question is: assuming that they are able to identify the 3 categories of ust holders you mentioned and considering let say only wallets <50k pre-depeg, is the residual fund enough? I guess not

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        1. Daniel‏ @Daniel43272732 May 21
          Replying to @FatManTerra

          Will they be able to work this out? It would be a waste of funds to fully refund people that sold, so I couldn’t agree more with your proposal. A simple snapshot of all holders pre de pegging would greatly benefit those who sold, and those who have held would suffer!

          1 reply 0 retweets 0 likes
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        1. Sir CRypTO‏ @SirCRypTO14 May 21
          Replying to @FatManTerra

          Of course both of them must be refunded accordingly. Panicking is natural, and everybody reacts differently. But, if we want necessarily to talk about priority, to be honest only one of the two groups contributed to the bank run and $UST collapse, so this should be considered.

          0 replies 0 retweets 2 likes
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        1. Sea Horse of DeFi‏ @SeaDefi May 21
          Replying to @FatManTerra

          Pro rata , ofc... Wise words, Bravo :)

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        1. Shuvo.ETH‏Verified account @BTC_NFT May 21
          Replying to @FatManTerra

          Totally agree with you 💯

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        1. xeirrow‏ @xeirrow May 21
          Replying to @FatManTerra

          This idea is so simple but perfect. I think this is the right path forward. But, it’s probably too late for reconsideration.

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        1. Twidder Ⓜ️‏ @Trump17181596 May 21
          Replying to @FatManTerra

          first, you need attention from @stablekwon

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        1. Sacha (Ø)  📹‏ @SachaDefi May 21
          Replying to @FatManTerra

          Agree 100%

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