The current FIP-2.0 propsal is heavily in favor of post-genesis speculators and accumulators of FEI/TRIBE at the cost of spending ETH generated from genesis investors.
The genesis investors especially pre-swappers invested with incomplete data regarding ICO cap , the vulnerabilities discovered and reweight mechanisms not working as intended because of heavy sell pressure.
The proposal: Instead of distributing the underlying PCV ETH to existing FEI supply accumulated by post-genesis speculators, allow genesis investors (0% to 100% pre-swappers etc) to redeem exact ETH invested during genesis pro-rata. This allows for a fair valuation of PCV that will comprise of post-genesis speculators, people who have capitulated already, the increase in ETH/USD pricing and any new investors who have a complete data regarding the project.
This act of allowing genesis investors has a positive feedback loop of:
- Removing FEI & TRIBE from circulating supply there by reducing sell pressure
- Allowing genesis-investors to invest back there by creating buy pressure (at the cost of speculators who dumped POST genesis)
- A stronger case against any lawsuits in the future.
- PCV will be distributed back to genesis investors instead of any participants who bought FEI after hand
- Possibly pushes FEI stablization back if the buy pressure from newly freed ETH is not invested back to buy FEI in circulation.
I think we can use this to create a snapshot depending on the reaction it gets from community.