1/ The Rari Fuse Hack Payment has passed on-chain to FULLY pay the victims in 24 hours.
This is a big moment in these final governance decisions of the Tribe DAO.
2/
Hacks are brutal for everyone involved, and this has weighed on myself and the community for many months now.
This positive closure gives us an opportunity to reflect and take away lessons for DeFi.
Aug 20, 2022 • 6 tweets • 1 min read
Thank you everyone for the feedback, and the patience these past couple of months. A couple of clarifications:
1) This is just a proposal. The community will decide how best to balance the needs of all stakeholders. These discussions are an important first step.
2) Everyone involved in this proposal is a long term player in the space and wants to do the right thing by all stakeholders.
Apr 11, 2022 • 11 tweets • 2 min read
The Tribe DAO builds permissionless DeFi primitives, including Fuse.
Leverage is no joke.
The Ichi pool is an example of what can go wrong when pool operators or users mismanage their positions.
Some rules of thumb 👇
Debt is backed by overcollateralization. Fuse relies on third parties to “liquidate” or sell off the collateral when it gets close to not backing the debt.
Lenders can lose their entire principle if liquidations fail.
Apr 3, 2022 • 15 tweets • 4 min read
Fei raised $1.3 billion one year ago today, the biggest DeFi token launch in history
And then everything broke
A thread on painful lessons learned, and an epic comeback that isn’t done yet 💥
1/ First, the setting. Early 2021.
ETH was ripping off the back of DeFi summer. Crypto began to feel inevitable. New projects (especially algo stables) were launching with FDV in the hundreds of millions and billions.
The only word I could use to describe it was frenzy
Jan 28, 2022 • 11 tweets • 3 min read
Announcing Tribe Turbo, a new DeFi primitive which allows any token to become productive and provide FEI liquidity at no cost to the markets that need it most 😱
How is this possible? Let's dive in 🧵
Algorithmic stablecoins need to be backed by either reserves (PCV), collateral, or both to be stable at scale
Turbo is an evolution of the “overcollateralized stablecoin” mechanism (think @MakerDAO)
Jan 23, 2022 • 10 tweets • 3 min read
The playbook for how to gracefully ride a bear as an algostable protocol, even with majority $ETH backing 📖👇
First, what is an algorithmic stablecoin?
An algostable is a synthetic representation of credit against collateral or PCV. It has value so long as a primary or secondary market supports that value.
This can be a USD like $FEI, $DAI, $FRAX, or nonpegged like $RAI, $OHM, $VOLT
Jan 4, 2022 • 9 tweets • 5 min read
ERC4626 is a landmark interface for yield bearing vaults that will supercharge DeFi innovation ⚡️
On this rock we will build our empire 🏰
TLDR; adopt ERC4626 or ngmi
Here is what this interface means for the Tribe, and for DeFi generally 🧵
Where are we now? Yield bearing tokens of all shapes, sizes and implementations, no cross-compatibility.
Below is the most ambitious token merger proposal in DeFi history💥
$TRIBE 🤝 $RGT
@jai_bhavnani and I along with our teams are stoked about our combined potential, and here is why👇🏽
The goal is to build out the DeFi that we all want and need 🚀
Fei and Rari are each optimized to allow DAOs to scale and network, the algorithmic bank and permissionless money market. Together, we can achieve even more 👀
Nov 5, 2021 • 5 tweets • 1 min read
Over $160m of $TRIBE buybacks for the year begin TODAY 🤯
This is the first feature of Fei v2 to roll out, with many more coming on December 15!
What does it mean 👇
The buybacks put the PCV’s future into $TRIBE holder’s management 🤝
The Tribe voted for 20% of the $850m PCV equity to be allocated to buybacks this year 👀
