Thread by @i_am_jackis

My take on $LUNA 2.0 🧵

I don't know whether it's gonna be a failure or a success but as far as I understand it's not a re-creation of the same LUNA/UST mechanism as before but rather a new L1 without the $UST part & decent ecosystem

1/8

People might think if 1.0 failed why should 2.0 work?

Well as I said I don't know if it will work in the long run, but under certain circumstances, I can see it working if it's just L1.

After all, the old UI worked very smooth and the LUNA ecosystem got pretty big and solid

2/

We have seen this in the past.

Even #Ethereum has split into #ETH & #ETC and eventually has become 2nd biggest crypto coin by mcap

We have seen #Solana had their blockchain stopped several times and it's still going, trying to fix bugs and so on

3/

That said, it obviously faces a lot of obstacles atm and in the near future too.

Trust has been lost, many people are angry about Do Kwon and the majority will be dumping most of their newly airdropped LUNA to recover losses after the crash

4/

After all the selling pressure is gone, after the dust kinda settles, it's gonna be up to the market to find its true value

5/

The biggest value of LUNA is its ecosystem.

The biggest question to ask then is: How many projects will stay and how many will join after this debacle?

If the ecosystem can survive the next months of selling & bear market and start rebuilding I can see a future for LUNA 2.0

6/

There are still so many bright minds surrounding the LUNA eco, that I can see it work but yes, as I said, the question is if #Terra finds a way to keep these projects on their platform and attract new ones

7/

I wouldn't count on any quick riches though, except initial re-listing volatility.

This rebuild, if possible, will take at least a year but most likely years

Let me know what you think in the comments, what's your take & your story. Looking forward 👇

8/