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TIP-121b: Rari Fuse Hack Payment TIP-121b: Rari Fuse Hack Payment If passed (i.e. “For” wins), this proposal would issue a payment to those affected by the Fuse Hack corresponding to the full amount stolen by the hacker. This on-chain vote follows from the snapshot vote: https://snapshot.org/#/fei.eth/proposal/0xd5359654b34bba833843fb64ad38e813b4ff6cc21e6f5ea323b704d2ceb25d96. The payment would be in FEI for end-users in return for the cTokens from the affected Fuse pools. Users would also have to sign a message releasing any liability. For the affected DAOs and smart contracts, there would be a direct payment in DAI. The total payment amount is ~12.68M FEI and ~26.61M DAI. Here is a spreadsheet detailing the payments per address: https://docs.google.com/spreadsheets/d/1h6VTKPyyA4FzB1yQNDniyROR4-FkGqYa8A97LWm8470/edit#gid=0
TIP-121a: Consolidation TIP-121a: Consolidation - Sell 22k WETH to DAI through a 2-day LBP auction on Balancer - Sell 18.7M LUSD to DAI through a 2-day LBP auction on Balancer - Move all protocol-owned DAI out of Compound - Finalize the deprecation of TRIBE buyback contracts - Move gOHM to an OTC contract where Olympus can get it back by returning TRIBE (FIP-108) - Withdraw as much as possible protocol FEI when liquidity available from various PCV deployments
Repay Fuse Bad Debt TIP-112: Fuse Repayment Summary: Whitelists the “Fuse Repayment Contract” as a safe PCV address for the Guardian to repay. Proposal: The community has signaled support for a PCV repayment of the Fuse exploit in a previous snapshot. This proposal provides some technical details and associated timelines. First, the strategy for repayment will be staged by asset. Repayment order will be assets currently in PCV first (RAI, DAI, FEI, ETH, LUSD), then external assets after associated conversions (USDC, USDT, FRAX). Both categories will be sorted by the smallest repayment amount first. For assets currently in PCV, the capital will be sourced from the most liquid deposit of that type. The proposal simply whitelists the repayment contract as a safe address for new PCV to be transferred in by the Guardian to repay. If any tokens remain in the contract after repayment, they can be withdrawn back into PCV. In terms of timelines, it would take 1-2 days to repay assets in PCV, and up to a week to source the non PCV assets from proposal execution. Voting options are YES, whitelist the fuse repayment contract and begin immediate full repayment, and NO, do not whitelist the fuse repayment contract and begin immediate full repayment.
FIP-99: Sell RAI Sell RAI to replenish DAI reserves and/or relieve upcoming peg pressure. Forum post: https://tribe.fei.money/t/fip-99-sell-rai/4120 Steps: - Withdraw 80% of the rai from fuse pool 9 and send to the aave rai pcv deposit - Call deposit() on the aave rai pcv deposit - Grant the PCV_CONTROLLER_ROLE to the rai pcv drip controller - Pause mint on the rai price-bound psm - Whitelist the fuse pool 9 rai pcv deposit on the pcv guardian, as well as the new rai psm and the aave rai pcv deposit - Add the rai price-bound psm to the collateralization oracle
FIP-87: PCV Sentinel Forum Discussion: https://tribe.fei.money/t/fip-87-pcv-sentinel/4018. The PCV Sentinel will be deployed and granted the role of “GUARDIAN” (the same role as the multisig guardian. The Tribe DAO authorizes the multisig guardian to add automated policies to the PCV Sentinel to protect the PCV, automate key protocol features such as the PSM, the collateralization oracle, and other system-critical components. Snapshot Link: https://snapshot.fei.money/#/proposal/0x28737bde7d4c72d9bac98eab158f5f288d475456833a8bd4f151fcc3b131b6f1
FIP-51: FeiRari Merger This proposal represents the Tribe half of the FeiRari merger code. It executes the following steps: 0. Check Rari vote executed first 1. Accept PegExchanger contract for swapping RGT to TRIBE at ~26.7 TRIBE per RGT exchange rate 2. Accept TRIBERagequit contract 3. Seed PegExchangerDripper with 170m TRIBE 4. Seed PegExchanger with 100m TRIBE 5. Grant FEI minting to TRIBERagequit 6. Send 315k FEI to GFX Ragequit details: - live until unix epoch 1640480400: Dec 26, 1am UTC - Intrinsic Value: $1.078903938 Rari forum: https://forums.rari.capital/d/177-feirari-token-merge/56 Tribe forum: https://tribe.fei.money/t/fip-51-fei-rari-token-merge/3642/105 Code: https://github.com/fei-protocol/fei-protocol-core/tree/develop/contracts/merger
FIP-37: TRIBE buybacks Summary: Initialize TRIBE buybacks on a continuous weekly basis at 20% APR of protcol equity. Proposal: Utilize new contracts to automatically and cyclically trigger auctions of newly minted FEI for TRIBE. The amount of FEI minted is calculated as 20% of protocol equity normalized to the period length of 1 week per year. The proposal initializes the collateralization oracle keeper and guardian. The former is used to keep the collateralization oracle up to date, and the latter allows for the guardian to pause and semi-manually override the cached values. It also seeds 111k FEI and 5k TRIBE for the first auction at a lower value as a capped launch. Forum discussion: https://tribe.fei.money/t/fip-37-fei-v2-tribe-buybacks/3571 Code: https://github.com/fei-protocol/fei-protocol-core/blob/develop/proposals/description/fip_37.ts
FIP-32: Pre-V2 Contract Upgrades Summary: Upgrades a few PCV contracts to be compatible with the V2 Collateralization oldRatioPCVController Motivation: Deploys the contracts we have to swap out: * ETH UniswapPCVDeposit * DPI UniswapPCVDeposit * ETH bonding curve * Ratio PCV controller Grants minter roles to the pcv deposits & the bonding curve, and pcv controller role to the ratio pcv controller. Sets bonding curve minting cap maximum for eth bonding curve, and updates the dpi bonding curve allocation. Finally, moves pcv from the old eth & dpi uni pcv deposits into the new ones. Uses some adapter contracts to move the PCV from the old ETH BondingCurve into Aave and Compound Forum Discussion: https://tribe.fei.money/t/fip-32-pre-v2-contract-upgrades/3538 Code: https://github.com/fei-protocol/fei-protocol-core/pull/219
allocate()setGenesisGroup(address)FIP-32: Pre-V2 Contract Upgrades Summary: Upgrades a few PCV contracts to be compatible with the V2 Collateralization oldRatioPCVController Motivation: Deploys the contracts we have to swap out: * ETH UniswapPCVDeposit * DPI UniswapPCVDeposit * ETH bonding curve * Ratio PCV controller Grants minter roles to the pcv deposits & the bonding curve, and pcv controller role to the ratio pcv controller. Sets bonding curve minting cap maximum for eth bonding curve, and updates the dpi bonding curve allocation. Finally, moves pcv from the old eth & dpi uni pcv deposits into the new ones. Uses some adapter contracts to move the PCV from the old ETH BondingCurve into Aave and Compound Forum Discussion: https://tribe.fei.money/t/fip-32-pre-v2-contract-upgrades/3538 Code: https://github.com/fei-protocol/fei-protocol-core/pull/219
allocate()setGenesisGroup(address)FIP-32: Pre-V2 Contract Upgrades Summary: Upgrades a few PCV contracts to be compatible with the V2 Collateralization oldRatioPCVController Motivation: Deploys the contracts we have to swap out: * ETH UniswapPCVDeposit * DPI UniswapPCVDeposit * ETH bonding curve * Ratio PCV controller Grants minter roles to the pcv deposits & the bonding curve, and pcv controller role to the ratio pcv controller. Sets bonding curve minting cap maximum for eth bonding curve, and updates the dpi bonding curve allocation. Finally, moves pcv from the old eth & dpi uni pcv deposits into the new ones. Uses some adapter contracts to move the PCV from the old ETH BondingCurve into Aave and Compound Forum Discussion: https://tribe.fei.money/t/fip-32-pre-v2-contract-upgrades/3538 Code: https://github.com/fei-protocol/fei-protocol-core/pull/219
FIP-28/29 FeiRari TRIBE and Optimistic Approval This proposal combines FIP-28 and FIP-29 related to Optimistic Approval and FeiRari TRIBE. Specifically it: * gives the OA timelock admin control of all FeiRari components and parameters * gives OA timelock admin of TribalChief and revokes old timelock * blocks TRIBE borrowing from the pool in anticipation of single-sided TRIBE staking rewards * mints 50M FEI to the OA timelock for future lending deployments * mints 1M FEI to seed Fuse pool 22 (BadgerDAO) FIP-28 forum post: https://tribe.fei.money/t/fip-28-feirari-tribe-updates/3515 FIP-29 forum post: https://tribe.fei.money/t/fip-29-oa-multisig-updates/3514 Code: https://github.com/fei-protocol/fei-protocol-core/pull/191
FIP-26 + FIP-27 Bonding Curve Cap and Spread Updates This proposal introduces a number of changes related to the FEI redemption spread and bonding curve parameters. Tightening FEI redemption spread to 0.5%: 1. Set Bonding Curve Buffer to 0.5% (from 1%) 2. Set Reserve Stabilzier price to $0.995 (from $0.99) Increasing Bonding Curve capacity: 1. Set DAI Mint Cap to 150M (from 50M) 2. Set DAI Scale to 100M (from 50M) 3. Set DAI Pre-Scale Discount to 0 4. Set DPI Mint Cap to 50M (from 10M) 5. Set RAI Mint Cap to 20M (from 10M) This proposal would further tighten the FEI peg and allow for additional diverisification through increased bonding curve caps. Forum Discussions: https://tribe.fei.money/t/fip-26-raise-reserve-stabilizer-backstop-to-0-995/3508 and https://tribe.fei.money/t/fip-27-revamp-fei-bonding-curves/3509 Code: https://github.com/fei-protocol/fei-protocol-core/pull/183
FIP-24 Gas Refund for TribalChief Transition FIP-24 Gas Refund for TribalChief Transition This proposal will provide gas refunds in the form of FEI to eligible addresses and fund the OA multisig with ETH to carry out the token multisend transactions. Eligibliity is defined as follows: A user must have >$1 worth of FEI-TRIBE LP tokens staked between August 1, 2021 and September 3, 2021. A user must have at least the same amount of FEI-TRIBE LP tokens staked in TribalChief on September 30 at 11:59PM PST. To account for dust and other inefficiencies, users will still be eligible if they have at least 98% of the same number of FEI-TRIBE LP tokens staked. Specifically, this proposal will: 1 - Mint 1 million FEI (the upper bound of possible eligible addresses) to the optimistic mulitisig (triblechief) timelock 2 - Withdraw 50 ETH from old ETH reserve stabilizer and send to OA multisig to pay for multisend gas fees and future operations 3 - Withdraw remaining eth in old reserve stabilizer and send to new reserve stabilizer Forum Thread https://tribe.fei.money/t/fip-24-gas-refund-for-tribal-chief-transition/3493 Snapshot Vote https://snapshot.fei.money/#/fei.eth/proposal/QmUXci4SffdLERxfaAU4Qm2ksSv9UE4fQ7squVMQVZrLcv
FIP-24 Gas Refund for TribalChief Transition FIP-24 Gas Refund for TribalChief Transition This proposal will provide gas refunds in the form of FEI to eligible addresses and fund the OA multisig with ETH to carry out the token multisend transactions. Eligibliity is defined as follows: A user must have >$1 worth of FEI-TRIBE LP tokens staked between August 1, 2021 and September 3, 2021. A user must have at least the same amount of FEI-TRIBE LP tokens staked in TribalChief on September 30 at 11:59PM PST. To account for dust and other inefficiencies, users will still be eligible if they have at least 98% of the same number of FEI-TRIBE LP tokens staked. Specifically, this proposal will: 1 - Mint 1 million FEI (the upper bound of possible eligible addresses) to the optimistic mulitisig (triblechief) timelock 2 - Withdraw 50 ETH from old ETH reserve stabilizer and send to OA multisig to pay for multisend gas fees and future operations 3 - Withdraw remaining eth in old reserve stabilizer and send to new reserve stabilizer Forum Thread https://tribe.fei.money/t/fip-24-gas-refund-for-tribal-chief-transition/3493 Snapshot Vote https://snapshot.fei.money/#/fei.eth/proposal/QmUXci4SffdLERxfaAU4Qm2ksSv9UE4fQ7squVMQVZrLcv