Fei Labs launches proposal to shut down Tribe DAO and distribute funds to token holders and hack victims

Fei Labs initiated a proposal to close Tribe DAO and distribute funds to token holders and victims of hacking attacks. The proposal proposes that DAO funds be first used to repay the victims of hacking attacks, and then be distributed by TRIBE token holders. Assignment, after which all governance rights are removed. The specific asset processing method is to first destroy the FEI in Fuse, Compound, and Aave, and convert PCV into a reasonable amount of assets while ending the DAO funding plan including Rari Infra and La Tribu. Among the assets owned, stETH and some low-liquidity assets will be directly distributed, and Ethereum, LUSD, veBAL, and gOHM will be traded as stablecoins and distributed through Balancer's LBP or OTC. Regardless of whether the proposal succeeds or fails, Fei Labs will exit Tribe DAO and return unallocated tokens to the DAO. The move is designed to guarantee the peg of the algorithmic stablecoin FEI to the U.S. dollar.