The snapshot vote is now live:
If approved, the Tribal Council will handle the logistics of repaying the assets on behalf of the hacker subject to the community’s veto. The Tribal Council will also execute approved transactions such as the Frax OTC once again subject to the community’s veto.
Given the market conditions it is likely many have been thinking about the health of the PCV. Below is a brief analysis of the PCV as it stands today on May 12 in the situations where the hack is repaid and is not repaid.
Tribe DAO is voting to repay $50M to impacted pools and absorb another $30M of direct losses and somehow, as a result, it will have higher stable backing, higher collateral ratio, and higher protocol equity
we should vote to repay $500M instead of $50M
TRIBE holders are overwhelmingly voting in support of this proposal and are putting a lot of trust in the Tribal Council’s magical powers
Given that vote passed, and it’s been more than two weeks since the hack happened, could we have an approximate timeline for the refunding of the pools?
The team seems dodging the question, and given the amounts missing, having a timeframe (or at least an acknowledgement of its absence) would greatly calm down users.