FIP-29: OA Multisig Updates

Proposal: FIP-29
Status: Last-Call

Edit: increased FEI allocation from 10->50m

The 1 month trial for the OA multisig will be coming up in a bit over a week. So far the multisig has executed 1 action to add G-UNI with 3 more actions upcoming (fTRIBE, gas refund, and lower TRIBE emissions).

I think this has been a largely successful pilot, and propose to extend it until Jan 1 with a few modifications:

  • No more TRIBE payment, instead gas paid by DAO
  • Add FeiRari parameter tuning to OA powers
  • Add 50m FEI to be held and deployed according to FIP-13

Any existing signers can continue if they so choose, and we can evaluate adding new members if there are any open spots.

We’ve discussed the possibility of splitting OA multisigs by functionality. I think this only makes sense if the OA is ever given a specialized and looser charter. For now, all actions still need explicit DAO approval or they will be blocked by DAO/Guardian.

  • Yes as proposed (add FeiRari and FIP-13 funding)
  • Yes, more aggressive charter (more responsibility)
  • Yes, more conservative charter (fewer responsibility)
  • No

0 voters


@joey I’m interested in OA membership if a spot opens now or anytime in the future


I would like to continue and I agree with the addition on scope. I think we need more months of activity before giving more responsibility beyond the ones proposed.

Just to point, we need to foster somehow community engagement, I hope Fei labs grants program is helping on that. When we migrate to a community grant program, OA could be responsible for executing the decisions from a grant committee, for example.

It would be good to have some benchmarks of how could we foster more engagement from community.

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I agree with Bruno, let us continue as proposed.

This is one of the OAs that would make sense.
Currently the core team is still managing sending out the payments which is fair enough, because they are still using the 2% of total supply that was “dedicated to them” for sending out grants.
But if we fund grants with the DAO treasury, we would need to give this responsibility to the DAO (/an elected OA).

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You mean cancel Tr1k/signer and do just gas compensation?

UPD: I noticed that (probably you) transferred 50 ETH to the OA address.

This was part of the DAO proposal, and intended as gas funds. The 400 FEI rebate will be very expensive probably 10s of ETH.

The 7000 are still there to be split for month 1, but this proposal would remove that for the future.

This is a great idea for the future, I think grants are still premature to be fully handled by the DAO. Lets get a few more batches in.

@cryptozen glad to hear you are interested! I’ve noticed more engagement from you recently. Can you tell us more why you want to be on the multisig, why you would be a good fit, and more about yourself generally?

After the pilot with grants, we could separate the grants related to Technical Aspects/Research & Development of the protocol (Fei Labs) from others as Growth/Marketing/Analytics/Finance (community). As Fei Labs Grants is only in the beginning, the idea would be that these two grants programs could coexist in harmony.

I think a community led effort on Growth/Marketing for example could help to increase Fei awareness.

I also think something as a community grants program would help a lot to incentivize community engagement. It should start small, but start testing it would be a good thing.

Autonomy, budget and accountability is important for the attraction and retention of builders in the community.

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I believe Defi is a much needed solution for a large segment of the worlds’ population - who now have an exit ramp and no longer have to bear the burden of corrupt and incompetent governments. Decentralized stablecoins are a huge part of this change. I was drawn to FEI, participated in the token generation event, and remained part of the community (despite the TGE mishap) because of these values. Here is a post I made back then - though I’ve changed my mind on an item or so since then: Achieve Peg & Appease Both $TRIBE Pre-Swappers & $FEI Sellers (summary + my 0.02 FEI) - #2 by DFischer85 I’ve got skin-in-the-game and want to see and help FEI become the #1 stablecoin. I’ve submitted an FIP in collaboration with other community members, I just submitted a grant proposal, and in a week or 2 will be submitting another aimed at an education partnership between FEI and another DAO. In meatspace, I’m the founder of a lifestyle company and an active angel investor.


Thanks for sharing this context! Are there any DeFi communities you are particularly involved in?

Moving this proposal to last call, following discussion on FIP-28: FIP-28: FeiRari TRIBE Updates - #12 by joey I’ve bumped up the FEI allocation to 50m. Note this is still Timelocked and should be safe.

Uniswap, Chainlink, BanklessDAO, APY.Finance, Seed Club and more

I also think the net result - empowerment of the community by acknowledging them, as well as support from the protocol core team is essential. This is what builds and expands the moat.

Welcome to the community! I think integrations with other projects is our next frontier to raise awareness and utility of FEI.


I also want to propose something for governance to consider with the OA committee. In the interest of allowing more diverse perspectives and for a broader group of people to participate (if interested), I request that at least 3 members must be rotated out every 6 months (or introduce term limits for OA committee members), unless there was some issue that does not allow people to be rotated (eg nobody else suitable for this task). Otherwise the existing group is already doing extremely well at their roles and there would be no need to switch it up (nor it would not be wise to keep expanding the number of OA positions).

Also, there may be instances where multiple OA committees may be required, which can absorb everyone that wants to participate. I guess we can have that discussion when there is a need.

OA is a pretty serious responsibility. I don’t think it should be accommodating to “everyone who wants to participate” necessaily.

For now and for at least the next few months I imaging OA operating exclusively in an operational capacity, enacting TRIBE holder votes from snapshot. This doesn’t require special skills beyond basic DeFi operation and security practices and commitment/availability. It should have a bar of long-time community participation or reputation in broader DeFi.

We are working on a delegation policy to get more TRIBE in community hands, and I think rotation
and diverse perspectives make much more sense in that context.

Snapshot here: Snapshot

DAO vote queued!