After months of uncertainty, the Tribe DAO which has introduced plans to shut down has lastly voted to repay its customers who have been affected within the $80 million hack of Rari Capital’s liquidity swimming pools.
The vote to repay the affected customers is likely one of the remaining governance selections for the Tribe DAO, which consists of Rari Capital, Midas Capital, Volt Protocol, and Fei Protocol.
The vote comes after a number of rounds of voting and governance proposals earlier than the choice to vote for reimbursement was reached on September 18. The voting then befell on September 20.
On-chain voting platform Tally data shows that 99% of those that participated within the voting course of have been in favour of the proposal to reimburse the victims.
Repaying the Rari hack victims
In response to the reimbursement proposal, particular person victims will likely be paid again in FEI, whereas decentralized autonomous organizations (DAOs) will likely be paid in DAI. The Victims will nonetheless need to signal a message releasing any legal responsibility.
Fei’s founder Joey Santoro stated by way of a tweet that the repayments can be made 24 hours after the vote was handed.
1/ The Rari Fuse Hack Cost has handed on-chain to FULLY pay the victims in 24 hours.
It is a huge second in these remaining governance selections of the Tribe DAO.
— Joey 💚’s ERC-4626 🦇🔊 (@joey__santoro) September 19, 2022
The whole quantity to be distributed among the many Rari hack victims quantities to 12.68 million FEI tokens and 26.61 million DAI tokens. At press time, Fei USD (FEI) was buying and selling at $0.9938 whereas DAI was buying and selling at $1.00.