is it possible UST recovered ?
Impossible. Dev has tried his best for UST to recover, he even spent hundreds of thousands of bitcoin dollars for all bitcoins to ensure UST remains stable but can't make it return to all prices until the supply of LUNA and the LUNA-UST protocol is stopped and it has been abandoned by dev. They're about to start LUNA v2 but as for the fate of UST I think it will really disappear from existence.
What would they use as stablecoin in Luna v2? I did read some users talking that they will be using USDT as reserve to peg their stablecoin. Is it confirmed?
They are about to start it, I am thinking of getting in even just worth alittle amount grabbing 100K LUNA for the snap. If the price of v2 will be like $1, that's a very good profit. Its the possibility of it going to a $ will be doubted by many of the speculator.