TIP-120: Return Unvested Tokens
TIP-120: Return Unvested Tokens
Fei Labs will stop participating in the Tribe DAO upon completion of the TIP-121 proposal here https://tribe.fei.money/t/tip-121-proposal-for-the-future-of-the-tribe-dao/4475. This DAO vote will only transfer any unvested Fei Labs tokens to the DAO and move TRIBE from the DAO timelock to the treasury, with no actions related to TIP-121.
There are two timelocks of such unvested tokens of note, the TRIBE timelock which has 88909000000000000000000000 (~88.9M) unvested TRIBE and the FEI-TRIBE LP Timelock which has 132453262024125114893965413 (~132.4M) unvested LP tokens. The end date for the vesting used is July 1, 2022. All of these tokens will be returned to the DAO by granting ownership of the timelocks to the DAO. The DAO could claim the tokens from the timelocks as needed or simply account for them as not in circulation.
Note the LP Timelock includes a portion 23996686013920804984559112 (~24M) LP tokens which are locked for Fei Labs early supporters. These will be transferred to a new timelock and remain as liquidity, after returning the team’s unvested LP tokens to the DAO.
The FEI-TRIBE LP Tokens which return to the DAO would be broken up into FEI, which would be burned, and TRIBE, which would be sent to the treasury. The benefit of breaking up these LP tokens is having certainty on the number of TRIBE in the treasury and FEI removed from circulation for accounting purposes.
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0x107D...435A43 | 10.002M | FOR |
 0x5eA4...70976F | 3.179M | FOR |
 0x6ef7...5C6148 | 3M | FOR |
 0x8639...e182F9 | 2.5M | FOR |
 0x64c4...359c5d | 2.5M | FOR |
VOTE POWER
Proposal Status
- Fri August 19 2022, 06:32 pmPublished Onchain0x64c4...359c5d
- Fri August 19 2022, 06:32 pmVoting Period Starts
- Sun August 21 2022, 07:49 pmEnd Voting Period
- Sun August 21 2022, 07:56 pmQueue Proposal
- Mon August 22 2022, 08:12 pmExecute Proposal
Current Results
1-FOR
29.692M
2-AGAINST
N/A Tokens
3-ABSTAIN
N/A Tokens