Ethereum founder Vitalik Buterin said Terra should prioritize the small investor in any repayment plan.
Another comment about the LUNA and UST event that shook the crypto money world came from Vitalik Buterin, one of the founders of Ethereum. In a tweet shared on his Twitter account, Buterin said he “absolutely supports”, quoting a user who defended this proposal.
Strongly support this. Coordinated sympathy and relief for the average UST smallholder who got told something dumb about "20% interest rates on the US dollar" by an influencer, personal responsibility and SFYL for the wealthy. https://t.co/YfNlpvAizg
— vitalik.eth (@VitalikButerin) May 14, 2022
Buterin says that there are stronger regulations for low-income workers, while for wealthy people there is “a way out yourself.” He cited Singapore’s labor law, which takes the ‘find it’ approach, and said things like this are ‘good hybrid formulas’.
The obvious precedent is FDIC insurance (up to $250k per person)
An interesting unrelated one is Singapore employment law. Stronger regulation for low-earning employees, and a more figure-it-out-yourself approach for the wealthier.
IMO things like this are good hybrid formulas. pic.twitter.com/25XkfE8UVc
— vitalik.eth (@VitalikButerin) May 14, 2022
As it is known, the world of cryptocurrencies recently, the deterioration of the UST’s constant and then between UST-LUNA She had been in for a shock as the increased supply of LUNA due to the relationship put her in a death spiral. Now the Terra team is looking for ways to bring the project back to life.
