UNDO button and its Repercussions

UNDO button sounds like a good option for FEI holders to exit at a fair price but Repercussions from such event could be the following

1) We are assuming every TRIBE holder is in it for the long run

2) FEI holders are basically getting a refund but what about those who preswapped for TRIBE, are they going to get an opportunity to exit if they want to ?

3) Let us consider if FEI price reaches $1 with the help of UNDO and TRIBE doesn’t recover (Unlikely but possible). Only losing side would be the preswappers.

4) Most of the TRIBE holders could be in for long haul but some might want to exit.

If UNDO button is a good option but not the best one. What do you all think is the best option.


I’m a pre-swap tribe holder, I hope to return my ETH. and the vote is the best exit way.
I think this UNDO solution is the best and will be agree by most of the members

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There is no best option, FEI need to peg to $1 as soon as possible. This should be the only goal, the longer we take, the less chance FEI/TRIBE can survive.

There have been multiple good options which the team can take, but they did not take it, waiting for the perfect “best” solution which does not exist.

FEI did not peg not due to the bug, it won’t peg well even without the bug. I think FEI team has thrown away the golden time to fix mess quick, it will be harder for FEI to shine even they fix the vulnerability, and come out with their solution that can possibly peg FEI, because after all any algo stablecoin require users to willing to bootstrap the network when it is below peg. Depending solely on PCV might not enough. They have lost all the trust and credibility, it is hard to peg when all FEI and TRIBE holders are thinking about exit.

Even if aave and compound support FEI/TRIBE now in their platform and FEI is > 0.95, I shall look for opportunity to quit as soon as possible, im sure many more think the same.


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