closedEnded 4 years ago · Snapshot (Offchain)
FIP-74: Buyback Adjustments
By 0xb81c...d5D8bFContinue Reading
Summary
This proposal seeks to get consensus on how (if at all) to adjust the Tribe Buybacks.
Forum Post: https://tribe.fei.money/t/fip-74-buyback-adjustments/3909
Motivation
Per FIP-73 we are now seeking to decrease circulating FEI in support of the peg as part of our Contractionary Monetary Policy.
One way to do this is to stop or decrease Tribe buyback amounts.
Currently we are buying-back with 20% of APR (calculated weekly) for Tribe. At the current protocol equity of ~300M, this is $1.15m of FEI being put into circulation per week.
((300m * 0.2) / 52) = $1.15m
As protocol equity lowers, so too do the buybacks, so there does exist some amount of scaling within the system as protocol health increases or decreases.
Voting
Voting is approval-style. You can select multiple options. The option with the highest result will be implemented.
- Keep buybacks at 20% APR of protocol equity
- Reduce buybacks to 10% APR of protocol equity
- Reduce buybacks to 5% APR of protocol equity
- Pause buybacks indefinitely
Connect Wallet to Add Note
0Votes 50
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0x6ef7...5C6148 | 3M | Reduce to 5% APR of equity, Pause buybacks |
 0x7E74...6001D2 | 2.514M | Keep at 20% APR of equity, Pause buybacks |
 0xf8D0...5a28Ee | 2.5M | Pause buybacks |
 0xb81c...d5D8bF | 2.5M | Reduce to 10% APR of equity, Reduce to 5% APR of equity |
 0x72b7...0683F3 | 2.115M | Pause buybacks |
VOTE POWER
0
Connect Wallet
Proposal Status
- Thu January 27 2022, 10:00 pmVoting Period Starts
- Sat January 29 2022, 10:00 pmEnd Voting Period
Current Results
1-Pause buybacks
13.553M
2-Reduce to 5% APR of equity
7.722M
3-Keep at 20% APR of equity
4.775M