You may have forgotten its debt
3 Likes
I think rai does not have the conditions to merge with fei. A rai that has debts and is overvalued, has any bargaining chip to “merge” with fei, tribe is an undervalued token. This kind of merger is very illogical. Even the acquisition of Rai has to disclose his financial debts, and then talk about the specific details.
And I think the team is abusing its power. Almost all the proposals passed so far are the result of the team’s overwhelming vote. If this is beneficial to the development of fei, of course, there is no problem, but it is not the best choice to discuss the merger with rai so easily. And why use pvc and tribe to merge?
If the team feels that rai is valuable, why not use the tribe that locks the position by itself to exchange the rights and interests of the rai team? The issuance of tribe for no reason is a dilution of the holder’s rights, and the rai team and users have not brought rights to fej and tribe in the past, why should we sacrifice our own interests to save them, or the fei team is using various methods Transfer diluted pvc.
6 Likes
I don’t like buying rari capital.
Its capitalization is $ 400 million, which is a lot.
This is not why I invested in TRIBE in order to spend PCV on overvalued assets.
7 Likes
I think rai does not have the conditions to merge with fei. A rai that has debts and is overvalued, has any bargaining chip to “merge” with fei, tribe is an undervalued token. This kind of merger is very illogical. Even the acquisition of Rai has to disclose his financial debts, and then talk about the specific details.
And I think the team is abusing its power. Almost all the proposals passed so far are the result of the team’s overwhelming vote. If this is beneficial to the development of fei, of course, there is no problem, but it is not the best choice to discuss the merger with rai so easily. And why use pvc and tribe to merge?
If the team feels that rai is valuable, why not use the tribe that locks the position by itself to exchange the rights and interests of the rai team? The issuance of tribe for no reason is a dilution of the holder’s rights, and the rai team and users have not brought rights to fej and tribe in the past, why should we sacrifice our own interests to save them, or the fei team is using various methods Transfer diluted pvc.
2 Likes
I believe that the current consensus does not incentivise RGT holders to accept any movement in such a merger.
Instead of having a merger, why isn’t TRIBE using their treasuries to buy a majority of RGT tokens and using their majority holding to veto a vote in RGT’s governance for an acquisition? I believe this purchase can be done via a general offer to the first x% of RGT’s supply at a fixed price (probably above current market price).
I have written extensively about how DAOs can replicate tradfi M&As, and I hope this can benefit both the RGT and TRIBE holders in executing such a transaction. Do feel free to drop me a DM on twitter!
1 Like
Exciting times for both Fei and Rari! The Rari team has achieved a lot with the resources they’ve had and have shown a drive towards innovation in the space. I like Rari and have been using them in various capacities.
However as already mentioned by others, a $1:$1 TRIBE:RARI swap doesn’t make sense in the eyes of TRIBE holders. If we consider TRIBE PCV with all that it entails, TRIBE is undervalued. If we consider the Rari debt from the previous hack, then it is an assumption of liability (and history) that may not be beneficial for TRIBE holders. Also if we consider what @fei.saver mentioned regarding 400M for a lending platform, the price does seem quite high. (What if we had a grant of 100M for a lending platform built on top of Fei? 
)
Having said all that, I’m not against a token merge. I am against the current valuation of the token merge, so it should be fleshed out a bit more considering the above.
3 Likes
First of all, as a community user, I object. Because it’s not a good deal. Rai has entered a recession period of rapid growth, which is a process that every loan agreement has to go through. And it is currently seriously overvalued. Fei has real PVC, which TVL can’t do. Tribe is now in the stage of value recovery. I think it is unreasonable to issue additional shares and acquire a highly valued lending platform, and it also has debt. As a team member of Fei, why do you avoid the important and take the light.
This behavior is more like intentional theft of PVC assets. It is more like relying on overvalued acquisition to achieve the purpose of asset transfer, which is not uncommon in listed companies.
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I don’t agree with the valuation of Rai. You once said that TVL is not equal to the value of ownership, remember?
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Rai should repay its debts and ensure that it has net assets.
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If it does, it can take shares in the Fei agreement according to the ratio of its net assets to Fei PVC. If it cannot do so, it must accept the undervalued value, because Rai does not have the conditions for equal negotiation.
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Fei cannot complete the acquisition by issuing additional tribe. Because the issuance of additional tribe does not comply with the rules. Diluting the rights and interests of users and voting rights in disguised form, so that the agreement is completely controlled by the team until PVC is used up.
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The Fei agreement is just on track. We should build our own ecology more conservatively. Before V2 is officially released, we plan to use a large number of PVC to complete the negative premium acquisition, which is not in line with common sense. Or does the team have other intentions?
Finally, I hope the team will not forget that the current PVC is not earned by us, but donated by countless loss making users in history. Before we do not rely on the agreement to make profits on a large scale, please do your own work well. PVC is a bloody chip. Don’t waste it easily.
I’ve been following Fei and tribe since creation. I have participated in all your interactions, including the recent tribe repo and lusd swap. I don’t think these opportunities for arbitragers have brought positive feedback to the Fei community, although I have traded dozens of transactions in the middle and got some returns. So I think I am qualified to stand up and tell you the truth. Our PVC is losing unreasonably in various ways. These lost PVC have not brought much benefit to the users of tribe. Instead, speculators, arbitragers and teams
Including Rai are trying to occupy PVC. If not, then why not use the team lock-in tribe to call Rai, but choose to issue additional shares to dilute everyone and let everyone bear the debt. Therefore, on behalf of myself, I oppose this proposal with ulterior motives.
I hope the Fei team will not forget its original intention. In the bull market, we have always held tribe. Although its performance is very bad and does not make us make money, we have an agreement and a future.
7 Likes
Even if Rai is an excellent product, it’s incredible that you and your team can achieve a valuation of $400 million in debt. Because PVC is not your asset, you will not cherish it. On the contrary, I think you are trying to accelerate the consumption of it. It is incorrect to channel benefits to your ‘partners’. Although you have almost absolute voting rights, and only you will participate in the voting of each proposal, please don’t forget that the greater the power, the greater the responsibility.
3 Likes
Although most users don’t speak for this, the market has given you the answer, hasn’t it? Tribe is falling, and our long-term growth lock-in TVL suddenly drops. Don’t tell me it’s accidental and caused by market behavior. Because everyone lost confidence in you for the second time. disappointment
3 Likes
Fei Protocol has a PCV of $ 1.1 billion. That’s a lot of money!
In my hometown, where I live, for that kind of money, you can hire all the programmers to develop new DeFi for the Fei Protocol community throughout their lives.
And the Fei team for $ 400 million (1/3 PCV) wants to buy an overvalued asset, which has risen in price 100 times in a year.
This is sheer madness! Why can’t you allocate some of the money from PCV to create your own analogue from scratch?
I am a member of Genesis and I have been a TRIBE holder from the very beginning.
I invested my ETH in TRIBE and got multiplied by 0.15. By the way, the team did not compensate for the losses to the ICO participants in any way, but simply spat on them.
Despite this, not so long ago I began to believe in the long-term success of the project, but after such a statement, it seems that the team is playing a dirty game and does not care about the value of the project at all.
I suggest you think carefully about this and give up this venture! I am totally against this purchase!
4 Likes
Taking into account the impending crisis in 2022-2023, the DAO Fei Protocol should preserve PCV as much as possible and, preferably, fix most of it in stables.
I also believe that centralized stables such as USDT and USDC should be added to PCV and should refrain from risky purchases such as Rari Capital.
2 Likes
The only thing that is going good for TRIBE is the war chest ETH that all preswapper donated and got rekt for. Whether this deal involves minting FEI or diluting tribe, this does not benefits TRIBE or FEI at this time. The sudden drop in TRIBE staking on RARI confirms this. Everyone is spooked. Let RARI be FEIDAO partner and build the empire FEI and RARI are thinking about without the merger. Lets see some products released together and see how much attention it gets and once TRIBE also has multiple x of growth in price, then we can revisit the merger. Keep in mind, RARI has already done 100X. My suggestion would be to “SAVE THE ETH” and partner with RARI without the merger and build new products utilizing FEI and show both the communities how the actually merger in future might benefit us both. I do believe the RARI and FEI have good synergies to work together and I think the idea of a merger is absolutely great but the timing is not right. Let RARI first show the FEI community the power of this merger by utilizing FEI stable coin in all their pools to increase adoption and FEIDAO can provide liquidity.
5 Likes
From the Llama team (Shreyas, @green, @mason, @yuan-han-li):
The Fei x Rari proposal is an important moment in DAO-to-DAO collaboration. Joey and Jai left room for the community to give feedback on how the pricing should be modeled and the hack repayment conducted. Llama would love to work on a pricing model that ensures long-term alignment between TRIBE and RGT. While we are still working on this, we wanted to indicate our interest early on.
Does the merger make sense?
We believe a correctly structured merger between Fei and Rari will be a positive sum outcome for both communities and the entire DAO ecosystem. By deepening the relationship with Rari, FEI can further cement itself as the stablecoin for DAOs. Fei will be the default source of liquidity for DAOs looking to provide borrowing against their native tokens. Rari’s Fuse pools can benefit from bootstrapping initial liquidity and ensuring manipulation resistent oracles for long-tail assets. Fei can become the unit of account for manipulation resistant oracles due to the capital efficient nature of the Fei/Ondo product. We expect the shared roadmap to only become more exciting from here as the protocols break down barriers between each other.
Background on Llama
Llama has a community of DeFi contributors who have created detailed treasury proposals, analytics dashboards, financial reports, led grants programs and designed liquidity incentives for projects such as Aave, Uniswap, Gitcoin, PoolTogether, Index Coop, Radicle, FWB, Harvest Finance and ARCx.
1 Like
We may have cooperation, but not the purchase of Rari.
1 Like
Thank you everyone for all the discussions so far, expect more details soon here is a summary of what I plan on getting specific on:
3 Likes
On the contrary, I think a merger would be a negative sum for FEI / Tribe. A merger isn’t necessary to utilize FEI. FEI has already stabilized itself prior to RARI being in the picture.
It seems like the “important” people are neglecting to answer the questions regarding RARI’s fluffed up price / market cap, DEBT on the books AND a hack issues in the past. I hope those get addressed and not simply… “This is what we will be doing even though a large group do not want it based solely on tribe amounts rather than consideration of others.” Alas, do we really want a team that was taken advantage of to be partially in charge of an actual PCV upwards of 1 billion dollars? I would rather not.
Nothing said above requires a merger. It is a far bigger benefit for RARI to utilize FEI at this point than for FEI to take on this merger at the current time.
Lastly… Tribe is still in price discovery after a terrible launch and year. Why would you ruin the potential gains for our DAO to benefit RARI?
4 Likes
What you said is very empty and does not have substance. As a normal investor, I don’t think it’s worth exchanging $400 million worth of PVC for an unexpected future cooperation. Please explain whether Rai has such value instead of conjecture and hypothesis. If it really has such value, you and your team can use your own tribe or personal assets to acquire rai. Fei and tribe community can consider giving Rai some handling fees or commissions in future cooperation. If not,Please don’t tell us stories.
1 Like
Take a look at your wording, we believe, we expect, and so on. These are unilateral storytelling. A few lines of phrases and a few expectations for the future will take away hundreds of millions of dollars of PVC? Don’t try to divest PVC assets against the community. We are sober
1 Like
What are the obstacles to cooperation between the two sides? Is there a lack of cooperation in the existing cooperation, or does it require more incentives?
Why do we need to merge to achieve better collaboration?
The current feedback from the communities and token prices of the two parties illustrates this point, that is the agreement merger is actually very funny.
1 Like
Honestly, this proposal is full of optimistic attitude. We have not calculated in how to deal with bearish market At that time, PCV will lose and destroy our fundamental part rapidly. How to keep value and development with two projects? internal priority ? so many questions
2 Likes