I would request everyone to have a look at this and post your thoughts on the thread
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I’ve swapped over 85% to TRIBE and I’m holding it right now, so surely I need TRIBE price to go up! Anything good proposal to increase the value of TRIBE will be surported by me!
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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.
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Some of this seems over-engineered. In one of the threads, the initial proposition was outlined quite simply - FEI is the stable element (akin to debt) and TRIBE is the speculative one (akin to equity).
Genesis participants who have held or LP-ied thair FEI in the FEI/TRIBE pair get to sell at $1 against the PCV to the extend of their initial purchase if they choose to (whether they should burn or no the TRIBE airdrop is debatable). This will set free the Genesis participants who got euphoric and are now feeling trapped and potentially bitter towards to project. Obviously, the option should be ringfenced to Genesis participants to the extent of their initial purchase to mitigate the risk of exploits. Not sure how gas-heavy this endeavor would be though.
We who took the risk and potential upside of TRIBE should solder on.
In the spirit of what FEI stands for we should for sure give @oecan-x his lost FEI back through a vote.
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Aggree , as far as it’s good for Community 100% i’m aggree
We need something huge
you should totally mint max tribe dump it on market for ETH & burn all FEI & use all the ETH to compensate all genesis users, anything less is fraud imho;
if there is anything left in the PCV after this, it is from what you gained for your majority shareholders of tribe (yourself and VCs) from providing false security to individuals 
oh yeah all your vested tokens shouldn’t be able to be delegated to vote with, what a move dude.
My naive thought is that redeeming at 0.9 would be a good way to fairly exit non FEI believers (as they still benefit from the airdrop and break even) and would also show that people not buying back at this rate believe the peg will be restored at some point. To summarize, it fairly allows non believers to exit. All remaining FEI holders are believers
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This is short-sighted… do you think if you execute this buyback at $1, then FEI will just stay at $1?
How can we even answer this proposal without knowing that the stabilization mechanism will work to maintain the peg?
Tribe is valued off PCV. Why would you take PCV to buy back FEI from arbitrageurs buying here, when this doesn’t necessarily peg FEI? All it does is destroy value for Tribe holders.
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Thanks for your thoughtful note, I am 100% in Tribe and I am trying to figure out what happens to the price of Tribe if we pay out .90 or $1 - would really appreciate your thoughts on this.
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I am extremely confused by the end of this message. Was it not the whole idea of the project to have a PCV work directly to maintain the PEG? With the no-action option, you seem to entertain the idea that, now that the ETH is in, it belongs to tribe holders who can do whatever they wish with it and the team is willing to go along. This would be for all intent and purpose a rug pull with a blessing of the team, I do not remember reading anything about it before genesis.
If I am completely honest, I find that the options proposed by the team show a lack of leadership and contribute to pushing further the community into a civil war between tribe and fei holders. The fact that we were lucky to have the ETH move almost 10% in the right direction and you cannot come with a proposal that is close to satisfying all parties is disappointing
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Make a quick exit option for 0.9 per FEI, drop 0.1 FEI to TRIBE pre-swappers (who still hold this TRIBE). Those who wish a full exit will sell their TRIBE and pre-swappers will have FEI to purchase it from the market, so it will be balanced. Those who are fine to wait can make a proper exit from FEI when contracts are fixed and peg is restored.
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I vote for no auction.
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For anything community will choose to do related to this proposal. Community has to understand that any mecanism put in place to ease the exit should also directly benefits holders. In that sense i am not for ease of exits if holders are not rewarded equally. The fact that the price go up due to the peg … etc is not to be accounted.
So at least 50% of the buyback should be redistributed to holders while the remaining could be burned.
Also it’s unfortunate for ocean but i am against to reimburse this kind of thing
I am for a .90 and not 1 peg for 2 reasons:
- Sellers you assume a lost it is what it is
- We need to test if the protocole is fixed and able to return to 1$ By itself
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It should not be just for preswapper but for any holders
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This what happen to people that did not read the whitepaper you got rekt and so be it
I disagree with you on it being short sighted. It flushes out the remaining sell pressure from the system. Let’s say 300M of Fei is not redeemed for $1. Why wasn’t this amount redeemed? Because there is demand for that Fei from the remaining holders. What’s one of the issues right now? Lack of demand for Fei.
Integration plans are in the works per the core team on discord. These integrations will enable Fei holders who didn’t redeem to start putting that Fei to work. It also will help generate more demand from non-Fei holders to buy Fei because there will be more use cases popping up.
Yes, the PCV gets drained but it’s still enough to be a force. And as I said, I’d rather PCV scale as demand and use cases for Fei scales. My thought process is based on what I think is the best decision to maximize PCV over a 3-7 year period. Not to maximize PCV over a 1 week to 3 week period immediately after Genesis.
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I was thinking more about this execution and how it could be bad to Fei Protocol.
Exposing 75% of PCV seems to be a very risky approach. Someone could buy FEI in the market and sell to this contract just to drain PCV. We would be exposed to simple taking out of PCV without extra benefits for current FEI and TRIBE holders.
In the moment of the launch of this contract a bot could sell for this contract and then buy in the market at the same moment? I do not know. But I think we need to elaborate more the possible scenarios, bot strategies and how it could drain PCV without benefits.
If market reaches the equilibrium of, let say 0.9, why letting the PCV be drained by arbs that are trading around 0.9. So, another alternative would be to expose a smaller percentage of PCV, such as 25%. But the percentual needs more study.
The other approach is that people can just sell the amount they bought in Genesis. It seems to be more complex, but it is safer and fair. Good idea from @siddharth and @WallStreetQuant: The Undo Button Proposal
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I have both FEI and TRIBE, 50:50
I think it is fair to offer $1 if we can maintain the health of the PCV.
TRIBE is always the speculative one, and TRIBE can have the benefit of getting the revenue from PCV in future. Allow FEI redemption, reducing the circulating FEI would be benefit PCV, and thus TRIBE holders as well.
As a TRIBE holder, we can also swap to FEI, and get the redemption as well if we want. But I foresee after this redemption, FEI could take off, then we can vote with our TRIBE to get a share of revenue from the PCV.
I see this as a viable solution to move forward. It is absolutely better than current situation. No option is perfect, we need to take some and leave some. I think this is fair, and optimal given the current circumstances.
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That would be the easiest.
Can someone please explain why the following won’t happen:
- PCV buy-back of FEI (whatever price…it’s mostly irrelevant).
- Many arbitrageurs/ppl new to the project benefit from the FEI buy-back
- FEI drifts down again to 80c
This is why this will happen :
- the buyback in its current form is NOT designed to take out the selling pressure. It’s designed to profit any trader/FEI owner, irrespective of when they bought.
- Instead of instilling confidence, the buy-back leaves the project worse off, with a lower PCV and the same issue with FEI (ie no mechanism to keep its peg).
- Tribe will trade down as the PCV is far lower and the project has fewer bullets to address its issues.
Instead:
- Offer a LIMITED buyback, only to those 17k addresses who participated in Genesis.
- Only do this when the mechanism to keep FEI at its peg has been updated AND tested in various scenarios.
- 1 & 2 must be done together to ensure that the buyback result is supported by the peg mechanism. Otherwise FEI will just trade back down.
- Offer Tribe holders a dividend to reward their loyalty.
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