Fei NewsletterKraken is planning to hand out more than $10 million in aid for clients affected by the military conflict in Ukraine. The amount covers the fees paid by Ukrainian residents in almost a decade and will also include those withheld from Russian traders in the first half of 2022.

by Meertitan and DioDionysos on January 31th, 2022

Happy New Year and welcome to the sixth issue of the Fei Newsletter, a community-sourced summary of the latest news in the Fei ecosystem. Here is what you can learn about in this issue:

Following the merger, the Tribe DAO is proud to introduce its first joint product, Tribe Turbo.

Turbo enables DAOs to benefit from their idle treasury assets, making use of Fuse’s permissionless lending markets. This can be used to avoid the previously costly process of bootstrapping stablecoin liquidity through liquidity mining, a process now seen as archaic.

You can find more information about Turbo in this official Medium post.

If you’re interested in applying for Tribe Turbo, reach out to us on Discord or Twitter!

Another step towards uniting the Tribe DAO has been the migration of all staking incentives to the FeiRari pool. With the additions of d3, G-Uni FEI-USDC, G-Uni FEI-DAI and FEI3CRV, the FeiRari pool boasts a total of $302M TVL, making it the largest Fuse pool on Rari Capital. The entire staking reward rollout can be seen here.

As an emergency measure, the DAO reacted quickly to the recent ETH downturn with policy changes to bolster the FEI peg and protect the PCV.

These included a moratorium on FEI minting and deployments for both the DAO and OA, as well as enabling the guardian multisig to withdraw FEI from volatile LP positions.

All in all, these measures help to alleviate peg pressure from both exogenous and endogenous demand drivers.

Fuse is now officially deployed on Arbitrum!

Arbitrum is scalable with Ethereum and offers a solution to the high gas fees that are connected to lending and borrowing on ETH mainnet. If you are not familiar with Arbitrum, then make sure to read up on it here.

With the finalization of the merger, RGT holders will be able to swap 1 RGT for 26.7 over on jointhetribe.xyz until August 1st at midnight GMT. Make sure to swap your tokens in that time frame, as TRIBE will be replacing RGT as Rari Capital’s governance token.

Additionally, hack victims holding REPT-B will be able to redeem their tokens for FEI. This set a precedent of trust in the Tribe DAO in the trustless world of DeFi.

Passed FIPs:

Metagovernance:

Optimistic Approval:

OA has passed the following transactions in January:

Visit the OA tracker for additional and historical activity details.

Going into January, the Tribe announced their joint suite of products. Check out these talks about Tribe Turbo and the ERC 4642 standard implementation.

(Highly recommended!) Joey from Fei Protocol and Jai from Rari Capital on the Bankless Podcast: https://www.youtube.com/watch?v=zco37eTWN2w

Joey on Solidity Fridays about ERC 4642:https://www.youtube.com/watch?v=L8dijE5qhTg

UMA holders are celebrating being able to borrow against their $UMA for the first time via RariCapital Fuse, seeded by the Tribe Optimistic Approval.

$FEI is proving it’s value to other bluechip DeFi DAOs.

People are excited to make use of Tribe Turbo.

“Liquidity Mining is Dead” — Check out what Joey has to say in this article about the future of DeFi 2.0