I will vote for cause i want to see things moving…
But if i can do comments:
i’m not for forced repeg/redemption cause you have no idea how it will behave.
i’m ok with more staking rewards cause i’m part of the LPs
Like i said last time, i hope the next proposal with propose only one change at the time. Even if you think that the increase in rewards will cause fei to move up… it has to be seen. So next time, one proposal == one change
Ha and don’t say that you’ll vote for before actually do the vote
This community really need to look at what others are doing cause their is not much positive out come from all the threads in here
I think team will think, exlpain what’s post solution with the extra eth collection from genisess~40K (69K-25k), you can see so more person support this project, means so many people want to seee the success of stable coin, but obviously team let all disappoiont
This seems like a great solution but the full preswappers getting left out.
Instead of fully doubling the FEI-TRIBE staking rewards, can we allocate 1-2% (1-2 million TRIBE) as a single asset TRIBE staking pool offered in-house for 60 days? This will give some upside and take care of the preswappers. The advantage of this amendment is obviously for those who preswapped a larger amount of their ETH and also in that it is time limited.
However if this option is popular we can continue this single staking pool and have DAO votes to taper the FEI-TRIBE staking reward more steeply and to continue to fund this pool, but it must be stressed that FEI-TRIBE would get the lion’s share of the rewards.
Other than that, fully agree that things should get better from here. I believe though that an additional grant fund should be established immediately to discuss integrations / further community value-add and that the work should happen in parallel to make up in lost time.
This proposal is longterm in nature. Moving the project forward so the team can focus on integrations, and repairing the protocol is paramount to long term value. Creating more TRIBE also increases voting weight for users, giving them more power of governance.
Staking rewards will increase buying pressure for FEI, reducing the amount of PCV needed to restore the peg, increasing the collateralization of the protocol.
The impact in PCV is happening now. The increase in TRIBE Circulating is diluted during 2 years. This will allow to focus on integrations and the ratio of TRIBE Circulating / PCV may be better. The result is TRIBE price can have space to increase.
I STRONGLY suggest the redemption is limited to Genesis participants (at least to start) and possibly capped to allocated FEI. I agree that the protocol needs to prioritize meeting the peg as quickly as possible.
When the protocol distribute reward for staking TRIBE-FEI, it is encouraging the liquidity provision. It makes sense because liquidity is a key value for a token that want to be the currency of DeFi. This also create a buying pressure for FEI that is good to TRIBE because helps to preserve the PCV.
What is Fei? It is stablecoin ! The PCV is the soul and the ETH TVL is basis for fei!
Without ETH, fei will only become a Little-known project 。
Why keep it stable by proposal? Just reduce the “sell pressure” of the “Complaining woman”？
The team received too many error messages from the community, especially the Chinese channel.
The Chinese channel administrator even complained the team with users, so the administrator passed too many wrong messages for team.’
It is impossible for everyone to be satisfied. To do what you should do at this stage.
The staking reward of TRIBE will create buying pressure for FEI that will help to support the peg. Also, some FEI holder may wanna wait to sell when reweights are restored. $ 0.95 will be a floor price. If you observe the user circulating FEI, it is overcollateralized. And more, it is considering part of the FEI that are timelocked in the FEI-TRIBE pool, which will not be sold. This all contribute to less FEI selling pressure.
In the last vote community was divided between “no change” and “redemption by $ 1”. The current proposal of redemption by USD 0.95 plus increasing staking rewards seems to get the middle way to unite community. I see that the proposal was built considering last snapshot, but added an essential element that was increasing staking rewards that will help to increase FEI buying pressure, preserving the PCV and also benefiting TRIBE holder.
By encouraging the liquidity provision of FEI-TRIBE we can have a more united and aligned community.
the “edit” point is a good one, Tribal. Increasing staking rewards will increase the buying pressure not only for FEI but also for TRIBE. TRIBE will also benefit from a less sell pressure from FEI, as the PCV is saved from buying more FEI.
I think that one of the most telling aspects for a chance at positive, long-term results is the fact that the core team have remained courteous and thoughtful (on Twitter and Discord) while being subjected to, what I imagine is, a massive amount of negative feedback.
Investing is long term and generally just as much about the people behind the project as it is about the tech that’s being brought to market.
If you think that the team has merits, then stake in the LP, earn TRIBE rewards, HODL, and support their vision of the project, which is what I will do.
I understand this. But the issue seems to be: if speculators are going to be rewarded by allowing to cash off at $0,95, not following the protocol, all while keeping their TRIBE or having sold it for FEI, then the most affected users will be the TRIBE holders.
In order to get the additional rewards they would need to sell some of their TRIBE for FEI or increase their investment, all while risking IL if TRIBE eventually succeeds.
Given this extraordinary conditions, set up by a launch event with no cap, then I would rather have the protocol work as intended (without $0,95 redeem) or find a way to reward TRIBE holders not willing to provide liquidity.
Anyways, I’ll definitely vote against this proposal.
Staking rewards will increase buying pressure for FEI, reducing the amount of PCV needed to restore the peg, increasing the collateralization of the protocol. Staking rewards will also increase buying pressure for TRIBE as more people will look for staking.
So TRIBE benefit from saved PCV, buying pressure for TRIBE and relieving the sell pressure, which allow to integrations and increasing even more buying pressure for FEI.
This would increase technical complexity and would be a barrier to move forward. A floor price of USD 0.95 is a value we are providing to future FEI users. It is important to allow integrations with other DeFi platforms, which will contribute to increase FEI buying pressure.
I will be voting AGAINST this.
FEI should be set to $1.00. Not $0.95. Anything lower is greed and theft by the team looking to profit from selling us FEI at $1.01 and buying at $0.95.
From my calculations, the rewards will be much greater than the possible Impermanent loss if you are thinking in the mid long term. When I did this calcs I was considering the current reward.
I respect your vision, just trying to bring more elements and data to improve decision making from community.
Investing is always risky, and people should thoroughly research what they invest into. I did this, and despite what has happened, I fully believe the team and project will come out on top. I am staking FEI/TRIBE, and am happy with the yield.