Finalize Fei-Rari merge by repaying the REPT-B debt, setting an expiration date of August 1st at midnight GMT for the RGT to TRIBE swap, and ending the RGT Sushiswap rewards.
The Fei-Rari merge promised a full repayment of the REPT-B debt within 90 days of the merge being executed. Now that we are a few weeks into the merge of both teams within the Tribe DAO, I would like to propose that we use a peg swap for REPT-B to FEI. Joey has written the code for this transaction and it will include REPT-B holders both on Ethereum and on Loopring.
The merge also outlined the swap for RGT to TRIBE and gave a window of at least 180 days for token holders to do so. We are currently working on code that would allow for a fRGT to fTRIBE migration (for Fuse users in pools that share both assets). There will be a series of announcements prior to this migration happening. I propose that we set an expiration date for the swap of RGT to TRIBE using the exchange rate outlined in the merger of 26.7:1 to end on August 1, 2022 at midnight GMT.
The Rari Capital DAO is currently incentivizing liquidity on Sushi as outlined in RIP-2 (RIP-2 Discussion - Rari Governance Forums). Now that the merge is complete, I propose that we sunset this program as the DAO is continuing to spend resources on a liquidity incentive program that is meaningless with RGT not being utilized anymore. I believe It’s important to leave enough RGT for 1 more week of rewards if this vote passes. This will ensure that all current Sushi LPs are properly incentivized and have the ability to claim rewards. Disclosure: If this pool begins to decline in liquidity, it will affect the Chainlink feed and TWAPs that use the RGT price as an oracle.
Create a hard stop for the RGT to TRIBE migration of August 1st at midnight GMT, which is at least 6 months from now.
Deploy the code necessary to allow REPT-B holders to redeem for FEI.
End Sushi Pool2 rewards program.
The proposal will be a yes/no vote for both proposals. The voting options will be as follows:
“YES pay the REPT-B debt, NO don’t do anything.”
“YES, end the swap period in August, NO don’t do anything.”
“YES, immediately stop Sushi incentives, NO don’t do anything.”
Non-binding signaling Snapshot vote. The options which pass both 10M TRIBE quorum and >50% approval will be enacted