Idea: a module implemented into major exchanges that can verify UST claims and calculate exact losses to the cent with one single click. Let me explain how (and why) I think this could work. (1/7)
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This would be a perfect way to verify exact losses that were inflicted on pre-depeg holders - both for people who held *and* people who sold. On-chain balances are easy to verify, so everything is sorted. Now, why the hell would exchanges do this? (4/7)
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They're being sued! Binance is being sued. OKX/Nexo will be sued. Who knows, maybe FTX will be sued. Exchanges retain liability based on the misrepresentations and risk disclosures (or lack thereof) made. One already refunded users out of fear of litigation & fines. (5/7)
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What if you told exchanges that for $50k in development costs, *other* people will help them make UST victims whole? It's a no-brainer - it reduces retail debt overhang, reduces the chances of litigation, helps the impoverished, and of course, looks amazing in the press. (6/7)
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Is it feasible? Yes - Do has exchange contacts and has likely put in place a special airdrop module for releasing vested LUNA over 2 years. This can totally happen if he hits up exchanges and outlines the benefits. A truly superior disbursement method for all stakeholders. (7/7)
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Binance sued?? Any Source?
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I have been made aware that filings are working their way up to the courts in Brazil, Turkey, and potentially Hong Kong, but these may take weeks to formally or publicly materialize - character limits are annoying
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Thanks. Twitter will use this to make your timeline better. UndoUndo
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