FEI and TRIBE redeem + TRIBE airdrop

The current vote proposal feels zero-sum in nature, leading to WIN-LOSE outcome for FEI/TRIBE holders one way or the other.

The proposal below seeks to find a WIN-WIN or at least “NO LOSE - NO LOSE” model where FEI holders and TRIBE holders who want to leave can be satisfied to eliminate the sell pressure, without TRIBE holders having to pay for it, and actually potentially making a profit.

The model is as follows:

  1. FEI holders can redeem the ETH they sent in, suffering a small loss (haircut)
  2. TRIBE holders can redeem the ETH they sent in, suffering a small loss too
  3. TRIBE holders who stay, receive all the TRIBE sent back in from redeemers in point 2.

In the spreadsheet below this is modelled.

Consider the scenario where FEI and TRIBE redeemers take a 5% haircut, and 80% of ETH is removed.

Making the simple assumption that TRIBE network value goes down also 80%, TRIBE holders end up 20% up from where they are now.

This feels like a situation where everyone “wins” relative to where we are now.

I would appreciate it if anyone who’s confident about the protocol’s figures could check the sheet and confirm/amend.


what if i wait to get more tribe and then dump on the market right after the event ?

fair point - someone suggested the same on discord. The airdrop would have to be time locked potentially. 3/6 months for example?

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good idea,just vote it

Smart idea and makes a lot of sense

The problem is that the team seems to want to trap Tribe holders with them and drag them to the ground

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I kinda like it. This proposition should be available to genesis members only. All the extra Tribe should also be returned (meaning all the airdrop tribe) So it would be the exect deal but backwards

Sounds like a good idea