Status: Last Call
Fei Protocol to backstop RGT auction and purchase between 1-5m FEI worth if auction denominated in FEI
Framework has proposed a treasury diversification on Rari Capital here: Proposal for Strategic Treasury Diversification via RGT Public Batch Auction - Rari Governance Forums
Their proposal would be to auction RGT for around $5.5m worth of stablecoins.
Fei Protocol and Rari Capital have an incredible partneship, with FEI being in almost all of the top 10 Fuse pools (#3 being FeiRari with over 100m TVL) and many more.
It would be natural for Rari Capital to want to hold FEI given its decentralized nature, solid backing of over 350% collateralization, and deep integration with Fuse.
If the Rari community is excited about the general RGT auction proposal, and extends it to denominate in FEI, then Fei Protocol would contribute in the auction. Specifically:
- Backstop RGT price at the same value as Framework based on 30 day rolling average
- Commit to participating with 1m-5m FEI up to some maximum price
- Participate at 5m FEI
- Participate at 2.5m FEI
- Participate at 1m FEI
- Do not participate