The 1$ redeem from PCV kind of made its way in my head, because I agree this is setting a shitty precedent not to allow FEI holders to exit at 1$. But then I saw these 2 messages from @joey on the Discord :
< 5 ETH | 80% preswap
5-50 ETH | 60% preswap
50-500 ETH | 33% preswap
500-5000 ETH | 18% preswap
+5000 ETH | 27% preswap
[…]
This is the first time I’ve seen it. It makes me consider who would actually benefit from FIP-1.
Allowing redeem at 1$ is essentially small investors bailing out large investors for a short term profit, and I don’t like it.
We are building a stablecoin product, so eventually everyone will be able to exit FEI at 1$ anyway, it’s just a matter of time.
Moreover, I think there is some risk with the proposed EthReserveStabilizer implementation, see the discussion here.
For all these reasons, I voted “no change” on the snapshot vote, and I encourage everyone to do the same. 1$ exit will get sorted out, but we need more time.