Summary

This proposal would approve a FEI Savings Rate (FSR) on FEI held by Volt Protocol. The FSR would take effect immediately upon passing of this Snapshot vote.

Forum discussion : https://tribe.fei.money/t/fip-105-fei-savings-rate-for-volt/4220

Detail

Authorize the Tribal Council or Treasury Pod as relevant to distribute a 3% FSR to Volt Protocol on a monthly basis as described in the forum post, within five days of the end of the calendar month, based on Volt’s average FEI holdings over the month.

Once a VOLT-FEI Balancer pool is ready, direct 20% of veBAL voting weight to this pool. This may be adjusted upward to at most 50% by the Tribal Council or relevant pod. While the forum proposal suggests a 50-50 pool weighting, this and other pool details may be altered subject to the approval of the Tribal Council or relevant pod.

Once Volt DAO begins receiving BAL rewards, swap these for TRIBE on a monthly basis, with Tribe DAO receiving a 20% discount on the BAL.

Volt DAO commits not to deploy any PCV FEI into venues that create peg pressure, such as Aave or other lending markets, while contractionary monetary policy is in effect. The VOLT-FEI Balancer pool is expected to act as a FEI supply sink.