After internal discussion by the Tribal Council, we are divided on the question of how much (if any) ETH should be sold to derisk PCV. There is consensus that stable backing of the entire “user FEI” supply as currently calculated would be more than needed.
As a first step, I would appreciate help calculating a “liquid FEI” supply that excludes:
- FEI held by Tribe DAO
- FEI held by FEI labs
- vesting FEI from Genesis
- FEI held by long term partners like Olympus, Frax, Volt, which can be considered substantially less likely to be redeemed vs FEI in incentivized liquidity pools, even if not explicitly locked.
Based on this new liquid FEI supply, here is a poll to assess community thoughts on an ETH sale. Targets are understood as estimates with some variance based on ETH price at time of sale and expansion or contraction in FEI supply.
This new FEI supply is probably already more than 50% stable backed, will appreciate help running the numbers on current % stable backing.
Should TRIBE DAO sell ETH to derisk the FEI backing?
- No, don’t sell any ETH
- Yes, sell enough ETH to back ~75% of “liquid FEI”
- Yes, sell enough ETH to back ~100% of “liquid FEI”
0 voters