Reserve Stabilization

I’m not for or against any of the proposals here but:

  1. Fei was never low-risk. 100% loss was advertised.
  2. Tribe has more risk, but the whole point of tribe is for governance - e.g. to vote on things like this.
20 Likes

$1 redeem would be a move of honesty and righteousness for Tribe holders. Only then, people can have faith in the stablization of Fei Protocol, and ensure long-term growth of the project

26 Likes

A redemption of $0.9 is the best

6 Likes

It’s a $1 USD stable coin and Genesis investors paid $1.01…$1 redemption is the only reasonable vote.

Vote to restore ocean-x’s FEI (please)

13 Likes

TRIBE pre-swappers are currently in the worst spot, with up to 65% loss from pre-swap price. The FEI mechanic was never guaranteed to be $1. It has always been an algo-coin, NOT a 1:1 pegged coin. 90 cents is a fair value for exiting with zero risk while TRIBE holders have to rebuild the protocol with a tarnished image to make money back.

28 Likes

I don’t hold any FEI but I think pass full redemtion at $1.00 would be a smart move since wil restore the faith on the project.

15 Likes

$1 redemption could give the whole protocol a new start.

18 Likes

100% in favour for using the PCV to buy fei at an agreed price to remove the FUD and negativity in the community and move forward with the updated mechanisms.

However, a full redemption just gives those who jumped in just for the airdrop a profit, and leaves Tribe holders and pre-swappers footing the bill (you will be making a profit as you also received the airdrop).

This penalises believers in the project and rewards the flippers who are creating this sell pressure.

I think a more fair balance would be to offer Fei at 0.90 - 0.95 for those that want to exit and allow Tribe holders to manage the remaining PCV. Those that aped will have a small ape tax, and those that believe will get the full $1 if fei eventually reaches the peg.

I also agree with returning Ocean-x’s lost fei.

27 Likes

Let’s be real, we’re all apes. :sweat_smile:

6 Likes

I fully support this as well.

8 Likes

Redemption at 0.95 is a better compromise since Tribe preswappers are actually effected the worst. This should be executed in tandem with airdrop for those who preswapped.

6 Likes

Faith is already lost, they didnt even wanted to test their product before mainnet, these problems might showed up back then. Now it will be throwing a life guard just to see if it works, not 100% guaranteed. But its the only thing we have in this short term so we have to cross fingers.

2 Likes

why not 0.95?
that will be much better.

after all FEI is desighed as a stablecoin peg to 1$, and it is overcollaterized.

why only allow .90 refund.

Tribe holders should not be forced to stake the Pair. Many pre-swapped 100%. If you force us to stake the pair to earn rewards you are forcing us to invest more money into the project to buy Fei, or swapping current Tribe at a disasterous loss in order to accumulate enough Fei to stake.

12 Likes

It sounds TRIBE people who believed in the vision get nothing.

The FEI people get their money back. They took zero risk but would have benefited if the project worked. I don’t think that’s morally correct and the FEI team should not have caved to mob pressure. I feel worse about the team now than before. If people don’t like FEI under $1 and don’t believe that it can come back, they should sell at a loss.

33 Likes

I do not agree with this proposal. Let me Explain why.

This caters to the people who participated in the GENESIS to gain the TRIBE airdrop just to dump it on the market.

The Non swap/pre-swap was ESTIMATE to 623,000 ETH no swap and 177,000 ETH swapped.

Clearly most of the people who participated, wanted to gain the TRIBE bonus and dump on the market which they did.

If we are going to propose a 1:1 FEI to eth swap. We must Propose something similar to the people who Pre-Swapped. It’s the only way that’s fair.

25 Likes

One thing to be aware of is due to the massive size of the Pcv right now, arbitrageur can buy massive sums of fei without raising the price and still make out with a profit at the time of redemption.
If whales swoop into FEI right at this moment, it will cause a huge loss to collateralization ratios for everybody else.

11 Likes

Persist in the $1 repurchase and airdrop 1:1 to pre ido users

Let me start by saying that FEI was always supposed to be lower risk, I don’t see why there should be such a huge penalty when the PCV is already in such a healthy state.

Even if there has to be a penalty, why not $0.95? I don’t think 0.9 was ever that popular an option. In all the discussions I’ve seen on discord 0.95 was always the price. If there’s no option for 0.95 I’m voting for 1.

Also, don’t forget that there are many people who bought fei at 0.97 with a small reward of under 5% in the early days trying to support the peg. These people who lose money at a liquidation price of $0.9, which would be an unjust punishment.

4 Likes