Fei Money

This snapshot is a non-binding signal vote for the “explore OTC options for remaining gov tokens” step of TIP-121a: Consolidation.

Of the DAO’s holdings of veBAL, FOX, LQTY, INDEX, vlAURA, and veANGLE, OTC quotes were made by various parties for all but LQTY and veANGLE. They are:

• 1,000,000 DAI for Tribe DAO’s 112k B-80BAL-20WETH (veBAL) by Aave DAO: https://tribe.fei.money/t/aave-companies-otc-proposal-for-tribe-dao-s-vebal/4544/2
• 200,000 USDC for 100,000 INDEX by Wintermute Trading: https://tribe.fei.money/t/wintermute-s-otc-proposal-for-tribe-dao-s-index/4538
• 94,000 DAI for 34,038.42 vlAURA by Fishy: https://tribe.fei.money/t/fishys-otc-proposal-for-tribe-daos-vlaura/4550
• 500,000 DAI for 15,316,691.9656 FOX by Shapeshift DAO: https://tribe.fei.money/t/shapeshift-dao-otc-proposal-for-tribe-s-fox/4548

The snapshot will be multiple choice with a binary option of OTC and either

• distribute pro rata for INDEX and FOX
• Assign to respective DAO for veBAL and vlAURA

For 1,101,298.80 LQTY (~$1m @ $0.9252/LQTY) the options will be distribute pro rata and discuss alternative options.

For 478,096.47 veANGLE (~$22k @ $0.046/ANGLE with lock expiry April 4, 2026) the options will be burn and discuss alternative options. Burning would be achieved by doing nothing and leaving the contract as-is, due to technical costs potentially exceeding any recovery value.

Voting rules:

This is a non-binding multiple-choice signal vote. Each of the binary keep/sell pairs above would be included. The larger option which also reaches 10M TRIBE quorum would proceed on-chain as outlined above in this snapshot proposal.

Each passing option would be submitted for its own DAO vote as soon as all governance and technical details have been completed for both parties of the transaction.