a lot of us know we can’t know every single thing about a project. this is why we listen to david and ryan on bankless and listen to influencers on crypto twitter. i thought this was going to be a good team, I did not expect
This seems like a good idea on first thought, but then you consider the actual economics of what is happening. If you use TRIBE as collateral, and the team is releasing a massive amount of TRIBE, as you farm, price will go down quickly since supply is inflated, and soon, you’re liquidated. Maybe the team will recommend it, but please, do so with caution.
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What exactly did you expect?? You’d preswap and be rich in 2 weeks? You’re a gambler not an investor. Hold and be rewarded which was a part of their reward structure from the beginning or sell and miss out for being impatient
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to set the rules directly against those who wanted to invest in the team/vision is just cruel.
Works for ETH. Supply is irrelevant for price action
If you invested for those reasons then surely you plan to hold longer than a few weeks and consider this an opportunity to accumulate
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Are you saying that you want to reinvest your entire asset in a 1% deposit and borrow 40% with more than 10% APY? That doesn’t seem to be a good way to invest. I just want a policy that has a small advantage for TRIBE Genesis participants who are losing more than 50%. Is this very greedy?
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Please clarify what you mean
I’m not advocating doing that, I was just saying it is a way to stake that currently exists.
BTFD is essentially what I’m saying
Good point, what about a SUSHI-like model where farmed tokens are partially time-locked and vested over time?
Any farming is prone to pump and dump schemes - with another tranche of TRIBE in the rewards, we should look for ways to mitigate this risk.
Hey guys, I get that you want to resolve this issue with the least complication possible, but I feel like you are throwing TRIBE holders under the bus here. We know you have enough TRIBE to swing this vote in the direction you choose but please consider the effect of this strategy on participants who swapped the majority of their funds for TRIBE (same group who are the most ardent supporters of the project).
In order to benefit from this proposal, you will either have to:
- Sell some of your TRIBE at a huge loss
- Or buy more FEI
Neither of those options seems particularly attractive considering the fact that you would also have to take on the additional risk of impermanent loss. Meanwhile, other participants that swapped little to no FEI for tribe and have most likely dumped all free TRIBE walk away with profits or at the very least break even.
Perhaps you can take a look at Barnbridge as an example, they run several incentive programs including an LP pool like you are suggesting, but they also run a pool where BOND holders can stake their BOND (by itself) in return for a good APY. Why can’t we just direct the additional 100 million into a single token pool for TRIBE?
Don’t burn your most ardent supporters.
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Down the road doesn´t do it for me; Come up with a realistic proposal that takes into account the TRIBE only holders also and maybe it will be passed; Otherwise it´s a definite NO!!!
Definitely voting with NO on this proposal, here is why:
-
You are basically allowing anybody who buys FEI at a discount on the secondary markets to make a quick buck by draining the PCV.
Solution: Limit the FEI redemption at 0.95$ ONLY to Genesis participants. Just make a snapshot of all the ETH addresses who participated in the Genesis event and in the redemption process check if the ETH address trying to redeem FEI at 0.95$ is part of those addresses. If not, the transaction should fail and not be executed. Doesn’t sound too complicated, does it? -
People who pre-swapped in the Genesis event are basically screwed as we bought at 3.20$ and TRIBE price now is 1.30$. Remember, these people are the hard fans of the project, not the ones who did not preswap and just wanted to get a free airdrop for contributing ETH for FEI. Increasing the LP rewards is only for people who hold FEI as well, so I don’t see anything positive for just TRIBE holders in this proposal.
Solution: Airdrop TRIBE to people who pre-swapped in order to compensate the loss from 3.20$ to 1.30$.
Remember, you are throwing your precious ETH from the PCV out of the window and giving it to arbitrageurs who buy FEI now and redeem in a few days for a quick profit. These same people did not contribute in any way to bootstrapping your project and the PCV. So why reward them and not us, the people who were part of the Genesis event and helped you raise funds to bootstrap the project?
TLDR: Vote NO on FIP-2
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Hmm… Where’s @Eswak when we need him the most? 
Perhaps he can’t type at the moment because his popcorn fingers are too buttery.
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I will vote against it.
This proposal is seriously unfair to trbie holders, especially for thos who pre-swapped 100% . Doubling staking rewards by allocating 100 million TRIBE (1/4 of the Fei DAO Treasury) to the existing FEI-TRIBE staking pool. But the question is, 100% pre-swappers have no FEI. Now, they take a 66% loss, suffered the most, but they cannot benefit from this proposal.
In my opion, give tribe holders who join the pre-swapped an undo button, allow them to redeem at least 50% of their funds, so they can jion FEI-TRIBE staking
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What double stacking??? Just airdrop TRIBE for 100% genesis preswappers!!!
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If there such strong oppounities for the PCV growth, why slash it in third for a short-term solution while the only real long-term solution is to fix your product (the algo…)
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You don’t have FEI? It doesn’t matter, they will tell you to go to Rari’s No. 8 pool to borrow FEI. How is it perfect?？ 
exactly, airdroping Tribe to Genesis swapers at least seems fair.
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