FIP-2 FEI Redemption + TRIBE staking rewards
AI summary
This proposal aims to stabilize the FEI stablecoin's value by allowing FEI holders to redeem their tokens for $0.95 worth of Ethereum (ETH). It allocates 300,000 ETH from the protocol's treasury for this purpose, distributed in hourly batches. Additionally, it seeks to boost engagement and demand for FEI by adding 100 million TRIBE tokens to the existing FEI-TRIBE staking pool, effectively doubling the rewards over two years.
If passed, FEI holders will gain a guaranteed redemption floor, increasing confidence in the stablecoin. TRIBE holders who stake will see significantly higher rewards, potentially attracting more stakers and increasing demand for FEI. The DAO will spend 300,000 ETH (approximately $1.1 billion at current prices) and 100 million TRIBE tokens from its treasury.
Voting results
🐳 Whale votes
0 votes > 5% VPFull proposal
Forum Discussion
https://tribe.fei.money/t/fip-2-fei-redemption-tribe-staking/3033
Basic Summary
This proposal aims to unify FEI and TRIBE holders around the common goal of FEI’s long-term stability and success by:
- Offering $0.95 redemption of FEI using 300k ETH from PCV, delivered in batches to the ReserveStabilizer contract in hourly batches of 5000 ETH
- Doubling staking rewards by allocating 100 million TRIBE to the existing FEI-TRIBE staking pool, linearly decreasing over two years
Motivation
This proposal aims to create strong peg support for FEI at a $0.95 floor. It create…