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:
- FEI holders can redeem the ETH they sent in, suffering a small loss (haircut)
- TRIBE holders can redeem the ETH they sent in, suffering a small loss too
- 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.