Can I get some answers?

I had millions in m-assets on ethereum, are they now worthless? Is there a plan? What should I do? Can I help somehow?

No blogposts, tweets or any comment from anyone. In addition have both telegram and discord closed…

Hey mate!

Essentially, to calculate the USD value of your holdings you can do: qt mAsset * UST price * UST price in USD (currently 0.087 USD).

If you have not sold anything during the LUNA/UST crash last week, I am sorry to say that you may have lost 90%+ of the USD value of your investment. :confused:

and there is no plans going forward? So the recommendation is to attempt to sell?

I really need discord access.

The thing is, mAssets are priced in UST. They have lost their USD value not because of Mirror (they are still relatively priced at the same price they were 1.5 weeks ago in UST terms) but because of UST losing its peg.

Right now UST is less than 0.10 USD and looking at all the current proposals regarding the future of Terra, it seems to me that it will not recover its value (it might allow you to receive an airdrop for a potential LUNA fork but that’s it).

Hence, to make a call I recommend you read about Terra and its future and not about MIR.

The problem with all of these proposal seems to be (at least in my understanding) that they only consider people holding UST in their wallets or having it in Anchor (so basisally holding aUST), and the same story for LUNA. I’m pretty sure that these proposals would completely ignore anyone holding mAssets, UST locked in strange protocols, LUNA locked in strange protocols, people who are delta-neutral, people with positions in autocompounders and so on… Or maybe I’m mistaken, but whichever way it turns out, I really don’t see the new token gaining any traction anyway…

So basically we are f…

Yes, you should sell. I would not sell them on any eth market as you are going to be paying somebody to bring them to the mirror market place and burn them.

So I recommend,

  1. Get a terra wallet working
  2. transfer assets to terra. You can use https://www.portalbridge.com/
  3. sell them on https://mirrorprotocol.app/
  4. transfer ust back using https://www.portalbridge.com/
  5. sell ust