Fei Money

This is the non-binding snapshot vote for the Fuse Hack Payment part of TIP-121. (TIP-121b)

The mechanism for payment would be an exchange of cTokens from affected pools for FEI via trustless smart contract. The value of the FEI would equal the bad debt (effective losses) of each address at the specific block from roughly 24 hours before the DAO vote for Fuse Hack Payment. The price of non-usd pegged assets (ETH and RAI) would use a 7 day Time Weighted Average Price (TWAP) ending at that same specific block, for the purposes of calculating the total bad debt.

There are 4 options in the vote, each corresponding to how much to use for payment:

• 57.3M TRIBE
• 82.3M TRIBE and $4.6M USD of stablecoins
• Full payment
• No payment

Any addresses which received payment from insurance such as Nexus Mutual would be excluded from payment.

If options 1 or 2 wins, and an address has broken up their balances to seem smaller, these splits will also not be included and instead the original aggregated account will be used.

The EOA (user owned non-smart contract) addresses would need to sign and assent to a release waiver of liability to all TRIBE holders and Tribe DAO contributors in order to claim payment.

Any smart contract addresses which are Gnosis safes will have funds sent directly to the safes. This is because smart contracts are incapable of on or off-chain signatures on a technical level. Known DAOs can coordinate with the Tribe DAO to come up with a suitable address for funds to be sent to.

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Voting Rules

This is a non-binding approval style vote. The most approved option would be submitted for a yes/no DAO vote after the completion of security audits and test deployments. Any DAO vote would be announced 72 hours in advance.