FIP-28 Disable TRIBE borrowing and Add TRIBE to Snapshot
Forum Discussion: https://tribe.fei.money/t/fip-28-feirari-tribe-updates/3515
Summary:
Disable TRIBE borrowing on FeiRari (Pool 8) and allow Rari TRIBE to vote on snapshot.
Motivation:
Single-sided TRIBE staking rewards will be coming to FeiRari next week. This will represent a substantial amount of rewards, and likely drive over 50m TVL to the FeiRari pool.
This change will lead to some interesting behavior, such as making TRIBE cheap to borrow while subsidizing lending. This could lead to dangerous recursive leverage which reduces rewards for average users.
Proposal:
- Make TRIBE unborrowable on FeiRari
- Allow fTRIBE (FeiRari TRIBE) to vote on snapshot
These two changes will mitigate any risky behavior brought about by these new incentives, and simultaneously increase governance participation through snapshot.
Voting rules:
This is a non-binding single choice vote lasting 48 hours with the following options:
- Yes, disable TRIBE borrowing and enable voting
- No, do nothing
Quorum is 10M TRIBE. If the vote passes, fTRIBE snapshot voting will be enabled immediately, and disabling TRIBE will be sent to the DAO.
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0x70b6...ddeCA9 | 5.114M | Yes, disable borrow + add voting |
 0x7E74...6001D2 | 2.521M | Yes, disable borrow + add voting |
 0x6ef7...5C6148 | 2.5M | Yes, disable borrow + add voting |
 0xb81c...d5D8bF | 2.5M | Yes, disable borrow + add voting |
 0xC64E...A5a484 | 2.5M | Yes, disable borrow + add voting |
VOTE POWER
Proposal Status
- Fri September 24 2021, 06:00 pmVoting Period Starts
- Sun September 26 2021, 06:00 pmEnd Voting Period
Current Results
1-Yes, disable borrow + add voting
16.306M