URGENT: Amendment to Extend Merger Timeline by ~4 Days

Proposals
1

Authors: @alesco, @winning

(Note: This post has been cross-posted between RGT and TRIBE forums)

Executive Summary

We are putting forth an urgent amendment that would delay the merger timeline in order to ensure that community members have enough time to analyze & comment on the outstanding amendments to the merger proposal and to leave open a reasonable window for a snapshot vote after the final call. As such, we would like to push the “Amendments Last Call” deadline to Thurs. Dec. 16 and “Close Amendment Voting” to Sunday Dec. 19.

Our goal is to avoid a repeat of the previous merger snapshot vote, which was rushed through without fully following governance protocol. We also believe the outstanding open amendments are critical to the merger, particularly given the potential economic impact to various parties, and hence deserve the proper attention of all community members during this busy holiday season.

This amendment proposal will move to snapshot immediately in order to meet current timeline obligations.

Please vote here: Tribe DAO proposal: Extend Merger Timeline by ~4 Days to Allow for Sufficient Discussion and Voting of Amendments (snapshot.org)

Context & Rationale For This Extension

On December 9, Joey posted a “Merger Quick Eli5” on Discord and [the TRIBE forum that called for amendments to the merger proposal and laid out the merger timeline. In particular, the post noted that last call for amendments would be on Dec. 13 (4 days after the post) and amendment voting close on Dec. 15 (2 days thereafter), among other steps in the merger process.

We understand that there is excitement around the deal and that all parties would like to have the merger consummated as soon as possible ahead of Christmas; however, we believe it is in everyone’s best interest to move at a reasonable pace without sacrificing quality and integrity.

An extension is warranted for the following reasons:

  • The original timeline only offered 4 days between calling for amendments and last call; it is unreasonable to expect a fulsome discussion during this short window, especially when it relates to nuanced & complicated merger topics

  • There was no vote on the original timeline, which was presented as a given to the community

  • Prior to the last snapshot, certain community members voiced their concerns that important points were left unaddressed in the merger thread and that the vote was premature; we would like to avoid a repeat of the same scenario where a vote is rushed without an adequate discussion period

  • Since we are approaching the holiday season, more time is warranted as community members may have other competing obligations

  • Finally, there are still ongoing discussions around the ragequit option and the appropriate exchange rate, both of which are critical topics that could impact the economics of various parties. As such, these amendment proposals deserve the full attention of all community members.

Proposal

Extend merger timeline such that:

  • “Amendments Last Call” deadline moves to Thurs. Dec. 16 (from Mon. Dec 13)
  • “Close Amendment Voting” deadline moves to Sunday Dec. 19 (from Wed Dec 15)

Both deadlines should end no later than 11:59 PM ET on their respective dates.

If this amendment passes, a new timeline for the remaining steps (e.g., DAO on-chain voting) will be provided after consultation with the dev team.

Voting Options

  • In Favor of the above proposal
  • Against this proposal and maintain status quo timeline
2

Cool to see community posting amendments here after our discussions. I won’t be voting and will support the community decision here. You could consider posting a snapshot for Exchange Rate Amendment to the RGT/TRIBE Merger Proposal - #3 by andy in case the above doesn’t pass.

3

against the proposal

4

Tribe,

I feel uncomfortable that there is an unspoken urgency and pressure to move to vote to merge ASAP. I feel that it is questionable that Fei Labs wants to launch V2 and conduct the Rari merge at roughly the same time, both immense undertakings which should be vetted upon independently.

I ask that Fei Labs clarify their reasoning for this and whether there is any internal and/or external pressure for this urgency; while also clarifying whether there is an economic and/or other conflicts of interest to conduct these 2 activities together in good faith to release themselves from further doubt by the community at large (remember that Fei Protocol will now need to answer to both the Fei and Rari communities).

Next, I would request to restructure the merger timeline in the following way to retain an orderly fashion of procedure. In any case,

  1. Allow a final call and last reminder of whether anyone wants to put forward to table to the community within 48 hours. After this - no more amendments are allowed.
  2. Allow all current discussion regarding ragequit mechanics and valuation of RGT to be satisfactorily resolved (ie snapshots for proposals to be voted on and closed so that no more open topics exist) within a 96-hour window, to be run in parallel with #1 above.
  3. Once #1 & 2 above is complete, move to official process of merger voting.

For posterity, all current open items as amendments as of this writing are below:
Amendment A
Amendment B
Amendment C
Amendment D

5

@arcology I am concerned that running (1) and (2) in parallel will provide only 48 hours for the communities to learn about the potential amendments, review them and vote on them. In addition, it’ll open up the possibility that community members vote early (which is a great habit!), but then miss later amendments.

If we move to such a structure, would you be amendable to completing (1) and (2) sequentially instead of in parallel?