This proposal is quite dense and I want to make sure the decisions being proposed are well understood and that it is clear where Tribe holders and Fuse hack victims will be left if all of the above is executed. The distribution of the PCV is entirely in the hands of Tribe holders. Tribe holders have the power to decide which assets and how many assets are used for a hack reimbursement and what is to be distributed to Tribe holders.
The proposed reimbursement distributes the 7 day time weighted intrinsic value of 57m Tribe following all clawbacks to hack victims. The funds will be distributed equally to each affected address capped at the dollar value lost. Given the way this is structured and the current value of the assets in the PCV, almost all addresses will be made whole but a handful of the larger victims will only be partially reimbursed. Given the volatility of PCV assets, the exact numbers cannot be calculated until a time weighted price of Tribe is locked in. All outstanding FEI will become redeemable for 1 DAI and the remainder of the assets in the PCV will be distributed to Tribe holders.
The proposal currently does not consider the ~1.7m in accrued Fuse fees. Tribe holders can elect to use these however they like. We continue to think it is appropriate to use these funds to further reimburse hack victims. To that same end, we would also like to continue to encourage discussion around a complete reimbursement for all Fuse exploit victims.
Much like Fei Labs, the Rari Capital team will no longer be contributing following the outcome and execution of this proposal. Because of this, we support executing a clawback on the current Tribe and FEI vesting to the Rari Capital team. The Tribal Council has the authority to do this. We will also be giving back 30% of the unvested contributor Tribe to the DAO treasury. The remainder will be used for administrative and other costs necessary to wind down Rari Capital operations.