Fei Money

Forum Thread https://tribe.fei.money/t/fip-43-tribe-reward-to-handle-fi-fuse-pool/3600

Summary

Allocate $TRIBE incentives to suppliers of $FOREX tokens in handle.fi 8 RARI FUSE Pool #72 (troopersGarage) to incentivise $FEI borrowing against $FOREX collateral. Handle are also allocating $FOREX incentives for $FEI suppliers to the pool. This will stimulate FEI circulation and diversify the community of governance token holders across both protocols.

Motivation

Handle is a decentralised multi currency stablecoin protocol allowing users to create and exchange multi-currency stablecoins as the global defi FX protocol for non-USD stables. $FOREX is the handle governance token.

Users of the handle.fi 8 protocol can:

• settle trades in their local currency, removing foreign currency risks;
• borrow against crypto assets in their local currency, reducing conversion fees and fx risks;
• convert between multi currency stablecoins efficiently;
• earn rewards for liquidity provision in trading and keeper pools in your local currency;
• earn arbitrage profit from 1:1 redemptions; and
• speculate on foreign exchange movements.

Handle has completed an audit with PeckShield and recently launched on Arbitrum mainnet. There is now a key opportunity to partner with decentralised USD-stablecoin protocols to provide a gateway into non-USD stables and the handle community propose to work together with FEI DAO.

Handle has a verified RARI FUSE Pool #72, troopersGarage, to allow the handle community of troopers to use $FOREX tokens as collateral to borrow against, and are currently allocating 10,000 $FOREX incentives per week to $FEI suppliers of this pool.

This proposal puts forward to the FEI DAO to allocate $TRIBE incentives to $FOREX suppliers to the pool. This will create shared incentives to increase the pool depth and increase $FEI circulation.

Benefits to the FEI DAO Tribe:

Additional utility and returns for $FEI and rewards for $FEI holders Strategic partnership with handleDAO and a cross-pollination of the handle community of troopers with the FEI tribe Alignment with an emerging theme for non-USD stablecoins

Specification

This proposal would allocate 10 Allocation Points (AP) of the $TRIBE rewards system per week from the DAO treasury for rewards to RARI FUSE Pool #72 - troopersGarage.

10AP $TRIBE tokens per week will be issued by FEI DAO to $FOREX suppliers to the pool.

Noting that ~13,700 $FOREX tokens are currently being issued by handle to $FEI suppliers. These incentives are roughly equal in terms of financial value at current market prices for the respective tokens.