Let's think about why the team proposed this

Ideas
1

Many TRIBE holders, especially people who preswapped 100%, are concerned that the proposal would drain PCV and lower the value of TRIBE.

But let’s ask ourselves: why did the team propose the bailout? Like people said on discord, we know that the team wants the proposal to pass, and with price $1. And it’s fair to say that the early investors are on board with this.

But these people have close to 300M TRIBE vesting to their wallets over the next few years. Surely they are interested in maximizing value of holding their TRIBE.

It’s hard to predict what may or may not happen after reserve stabilization. But we do know that the team believes relieving the sell pressure will help TRIBE holders in the long run. Some of us are angry because the launch has not been as smooth as we might have liked it to be. But this is a brand new project in a brand new sector called Defi, and we knew it wasn’t going to be easy. And if we don’t trust the team to bring the project to success, why are we holding TRIBE in the first place? I say we back Joey, Sebastian, and Brianna on this one and let their proposal pass.

3 Likes
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It’s just the right thing to do. Short term price doesn’t matter, it’s about reputation and how they handled a crisis. The amount of good will and trust a $1 redemption would gain is immeasurable.

4 Likes
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I agree. The most important thing for TRIBE holders (myself included) is to get this stable coin to a place where integration and partnership plans can move forward. That is the only logical way to create demand. No demand for FEI = no success for TRIBE. They know more than we do about what’s going on behind the scenes. Perhaps there are handshake agreements that if $1 can be pegged and held for a period of time then integrations will be greenlit. We need real (defi) world utility for FEI and we need it ASAP.