I am really impressed by the creative power of this community. The discussions we are having here increase my confidence in a more decentralized future, where many perspectives can be considered. Glad to be participating in such an innovative effort. 
Despite the emotions involved in the decision making right now, I propose a rational and data-based analysis considering two points:
1. What is “fair” for Genesis participants?
2. What is good for the long-term perspective of FEI Protocol?
Although all the warnings that the ETH was not redeemable and the inherent risk about a new algo stablecoin, people invested large sums of money. This created an unusual sell pressure that is important to solve.
It does not seem fair to give a quick short-term profit for FEI investors. The essence of the peg is to keep your value constant, receiving the same amount of the money you spent.
If we offer to buy Fei for $ 1, FEI investors would have a 10% short-term profit considering the TRIBE bonus at the current price. If their bonus TRIBE was sold days before the profit would be even higher.
If we offer to buy FEI for $ 0.9, FEI investors selling their TRIBE now would receive the same amount they spent. You can see the calculations and the spreadsheet below:
Source: Genesis Results - Google Sheets
Considering the above rationale and thinking in the long term, I would not go for the option 1. I think we need to aim to reach the peg $1, but in a sustainable way.
I am not certain about options 2 and 3 and think we need some more calculations about the impact on Fei Protocol in the long term. I will do that and invite others that want to discuss it.
To reach a sustainable Peg we need a redesigned and improved peg mechanism considering these first lessons learned. From the discussions with @Matthew_Graham and the community, I think the dutch auction is a good option to be tested together with other demand-generating mechanisms.
Hope that many of the people discussing here stay in the community. So valuable ideas. With this creative power, we can go far. We can fix the problems and build the future.
P.S.: I also agree with returning @oecan-x lost FEI.