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0x107d…5a43

All memos sent from and to 0x107d…5a43.
0x107d1c9e…5a43sent to0xe087f94c…579b·#12,827,608·0x2018511a…28e922
FIP-11: Re-Parametrize Rari 8 Pool This proposal would have FEI DAO alter the existing parameters of the FeiRari Fuse Pool. The goal is to tweak the parameters to attract borrowers. The FeiRari pool’s existing parameters are relatively conservative and not friendly enough to be competitive in terms of borrowing. We have analyzed the various parameters and come to the conclusion that to make the pool more efficient, we must propose some changes. The plan is to make them more aggressive in order to attract borrowers, as the DAO can supply FEI to bootstrap the market. We will also take advantage of this opportunity to tune the parameters of the other three assets in the pool. We have seen the performance of the pool over two weeks and now we are ready to update the parameters to drive higher volume to it. The DAO has already supplied 10M FEI upon taking over the pool and it is possible it supplies even more FEI in the future. This makes this parameter tuning exercise more focused on attracting FEI borrowers. Snapshot Vote: https://snapshot.fei.money/#/fei.eth/proposal/QmdYwG49xzEFYRQu38yDaSrRtwuT6rPPGcnaAnCQYiHjGY
0x107d1c9e…5a43sent to0xe087f94c…579b·#12,827,605·0x51afd92e…962e5e
FIP-11: Re-Parametrize Rari 8 Pool This proposal would have FEI DAO alter the existing parameters of the FeiRari Fuse Pool. The goal is to tweak the parameters to attract borrowers. The FeiRari pool’s existing parameters are relatively conservative and not friendly enough to be competitive in terms of borrowing. We have analyzed the various parameters and come to the conclusion that to make the pool more efficient, we must propose some changes. The plan is to make them more aggressive in order to attract borrowers, as the DAO can supply FEI to bootstrap the market. We will also take advantage of this opportunity to tune the parameters of the other three assets in the pool. We have seen the performance of the pool over two weeks and now we are ready to update the parameters to drive higher volume to it. The DAO has already supplied 10M FEI upon taking over the pool and it is possible it supplies even more FEI in the future. This makes this parameter tuning exercise more focused on attracting FEI borrowers. Snapshot Vote: https://snapshot.fei.money/#/fei.eth/proposal/QmdYwG49xzEFYRQu38yDaSrRtwuT6rPPGcnaAnCQYiHjGY
0x107d1c9e…5a43sent to0xe087f94c…579b·#12,640,272·0xb8e53002…88bd9c
FIP-8: Use Chainlink Oracle This proposal switches the primary ETH-USD oracle to Chainlink from the ETH-USDC TWAP currently used. This would enhance accuracy, reduce manipulation resistance and reduce reliance on USDC. Chainlink has a robust oracle network, which leverages data from both on- and off-chain sources. Many other Ethereum projects use and collectively support the Chainlink ETH/USD oracle, including Synthetix, Aave, Set Protocol, Loopring, and many more. Because it uses a 50bps deviation threshold as trigger rather than a static TWAP, the Chainlink oracle responds faster to market volatility. This would help enhance the peg and protocol mechanisms. Currently the protocol use oracles in determining: The bonding curve purchase price for FEI The reserve stabilizer sale price for FEI The price to reweight to The slippage tolerance on Uniswap swaps and liquidity provision Additionally, upgrading to chainlink would save gas for users during oracle updates in FEI swaps on Uniswap and other protocol flows. The oracle to be used is the ChainlinkOracleWrapper written by @eswak here: https://github.com/fei-protocol/fei-protocol-core/pull/100 Forum Discussion: https://tribe.fei.money/t/chainlink-oracle-integration-discussion/3316
0x107d1c9e…5a43sent to0xe087f94c…579b·#12,633,793·0x76702d8a…5b6c94
FIP-7: Rari Integration This proposal transfers admin control of the Rari Fuse pool 8 currently called "Tetranode's Flavor of the month” to Fei DAO. It includes a 10 million FEI deployment into the pool to bootstrap liquidity for borrowers. Lending is a key use case for stablecoins and Rari Capital Fuse was the first lending integration for FEI. Fuse allows users to control the assets and interest rate parameters in a Compound-like pool. The current pool holds FEI, TRIBE, ETH and DAI. If this proposal passes, Fei Protocol could add future PCV assets to provide a native way to get leverage and yield using FEI and protocol-owned liquidity. Additionally, by supplying 10M FEI to the pool the Fei Protocol would be subsidizing borrowing rates and earning yield off of the early market formation. This could bootstrap future yield for FEI holders, drive FEI utility, and cash flow for TRIBE. Rari DAO has agreed to reduce the admin fee from 10% to 6% with a $10M TVL commitment for at least 9 months. This further tightens the spread to make interest rates as competitive as possible. This implementation would mark the first instance of the DAO itself minting FEI to provide liquidity in another protocol. This pattern does not need code changes, as the DAO itself will be the holder and owner of the position. Snapshot Vote: https://snapshot.fei.money/#/fei.eth/proposal/QmX9nKQiGdk58CyaQrm9uwhbUsHS5PtWNo5ASoYpRCS8gX Tribe forum post: https://tribe.fei.money/t/fei-rari-integration/3314 Rari forum post: https://forums.rari.capital/d/87-fei-lending-partnership
0x107d1c9e…5a43sent to0xe087f94c…579b·#12,633,783·0xd67c889e…d6b316
FIP-7: Rari Integration This proposal transfers admin control of the Rari Fuse pool 8 currently called "Tetranode's Flavor of the month” to Fei DAO. It includes a 10 million FEI deployment into the pool to bootstrap liquidity for borrowers. Lending is a key use case for stablecoins and Rari Capital Fuse was the first lending integration for FEI. Fuse allows users to control the assets and interest rate parameters in a Compound-like pool. The current pool holds FEI, TRIBE, ETH and DAI. If this proposal passes, Fei Protocol could add future PCV assets to provide a native way to get leverage and yield using FEI and protocol-owned liquidity. Additionally, by supplying 10M FEI to the pool the Fei Protocol would be subsidizing borrowing rates and earning yield off of the early market formation. This could bootstrap future yield for FEI holders, drive FEI utility, and cash flow for TRIBE. Rari DAO has agreed to reduce the admin fee from 10% to 6% with a $10M TVL commitment for at least 9 months. This further tightens the spread to make interest rates as competitive as possible. This implementation would mark the first instance of the DAO itself minting FEI to provide liquidity in another protocol. This pattern does not need code changes, as the DAO itself will be the holder and owner of the position. Snapshot Vote: https://snapshot.fei.money/#/fei.eth/proposal/QmX9nKQiGdk58CyaQrm9uwhbUsHS5PtWNo5ASoYpRCS8gX Tribe forum post: https://tribe.fei.money/t/fei-rari-integration/3314 Rari forum post: https://forums.rari.capital/d/87-fei-lending-partnership