Fei Protocol founder proposes ghosting Tribe DAO following hack repayment while Beanstalk relaunches
Fei Protocol unveils plans to step back from Tribe DAO while Beanstalk "unpauses" operations
By Shashank Bhardwaj
Fei Protocol is still reeling from the attack on its decentralised finance platform which took approximately $80 million from a number of Rari Fuse pools. They have revealed their plans to offset the damage to their ecosystem by partly revoking participation from Tribe DAO and it seems that the community is divided.
Joey Santoro, the founder of Fei Protocol, unveiled this plan in a latest proposal, TIP-121: Proposal for the future of the Tribe DAO. The proposal outlines the organisation’s intentions to reimburse Fuze victims, set forth plans for asset redemption, the distribution of protocol-controlled value (PCV) assets that look over the liquidity and yield. “Upon completion of this proposal, and irrespective of whether the individual pieces of it fail or succeed, Fei Labs will no longer be participating in the Tribe DAO,” read the proposal.
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