Tribe-Fei is Suspect Of Stopping Refunding Damages To Users

After being involved in a controversial drama with the team of Rari Capital, Tribe-Fei continued to face a lot of criticism after the proposal to “stop refunding damages to users”.

At the end of last week (June 12), the CEO of Rari Capital announced that he would resign. This move not only left a shortage of personnel, and a broken relationship but also left Tribe a great loss after Rari Fuse was attacked.

The above loss was estimated at about $80 million at the time Rari Fuse (the product segment of Rari) was attacked by hackers.

On June 8, Longarzo – a representative from Rari – posted a proposal for TIP-112, which is a step to recover outstanding debts, including specific assets and numbers.

Accordingly, the reimbursement plan will be for assets in the PCV portfolio (RAI, DAI, FEI, ETH, LUSD) first, and then for external assets such as USDC, USDT, and FRAX.

Almost immediately, however, the team deployed an earlier TIP-112 proposed veto proposal.

At the present time, after the Tribe team left open the possibility of “refunding”, the majority of votes have since moved in this direction.

Now, the DAO seems to be voting *against* repaying the debt, in contrast to the previous vote from May.

The vote titles and proposal pairs do not match, so it’s kind of hard to even tell what specifically anyone is even voting on anymore. pic.twitter.com/Ac221LSJeA

— Cobie (@cobie) June 15, 2022

Currently, this move may be partly due to economic losses, greatly influenced by the recent downtrend of the market. In his latest tweet, 0xMaki said that the payout amount is still enough, but it will reduce Fei’s Collateral Ratio from 142% to 125%. This will be very dangerous for the mortgage, securing the project’s assets.

If Fei repays what does it mean and can they afford it ?

Yes they can easily sort of but they will become collateralized at 125%

Highly recommend checking this spreadsheet: https://t.co/pYNnjPf92K pic.twitter.com/szGt43fpCD

— 0xMaki ⌐◨-◨ (@0xMaki) June 16, 2022

Meanwhile, the issue of voting in the DAO was once again dug up and became “classic memes” on Twitter.

protocol governance explained

snapshot vote:
which color lambo should the founder buy?
▓▓░░░░░░░░░ 11% – Yellow
▓▓▓▓▓▓▓▓▓░░ 89% – Black

founder: but i like yellow

*votes yellow*

▓▓▓▓▓▓▓▓▓▓▓░ 96% – Yellow
▓░░░░░░░░░░░ 4% – Black

— 찌 G 跻 じ Goblin 𝙎𝙚𝙣𝙥𝙖𝙞 of the 𝙃𝙚𝙣𝙩𝙖𝙞 (@DegenSpartan) May 14, 2022

In addition to the controversy of Fei and Rari, recently the DAO autonomous community also had to stir by the dispute between Merit Circle and YGG.

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