Fei Protocol founder proposes ghosting Tribe DAO following hack repayment
Refuting TIP-121, members of the community questioned the lack of timelines and hard numbers within the proposal. An attack in April 2022, which drained off nearly $80 million from various Rari Fuse pools, required the decentralized finance (DeFi) platform Fei Protocol to come up with a solution that minimizes damage to the ecosystem. Fei Labs’ latest proposal, which partly recommends revoking participation from Tribe DAO, received mixed sentiments from the community.Fei Protocol founder Joey Santoro announced the latest proposal, TIP-121: Proposal for the future of the Tribe DAO,....
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Following an April hack attack that affected many Tribe users, the Tribe DAO community has proposed compensation. The tribe is a decentralized autonomous organization (DAO) that controls three projects in the ecosystem. The tribe was launched in 2021 when Fei protocol acquired Rari Capital. The Tribe ecosystem runs a protocol known as the Turbo liquidity […]
The vote to reimburse users affected by the hack was one of the final governance decisions for Tribe DAO which has announced plans to wind down. After months of uncertainty, the Tribe DAO has passed a vote to repay affected users of the $80 million exploit on decentralized finance (DeFi) platform Rari Capital's liquidity pools.Following several rounds of voting and governance proposals, Tribe DAO, which consists of Midas Capital, Rari Capital, Fei Protocol and Volt Protocol, took the decision to a vote on Sept. 18 with the intent to fully reimburse hack victims.Data from on-chain voting....
The Mt. Gox hack was a watershed moment for bitcoin. And the future repayment to the affected people will surely be another one. Since we’re in a bear market, most people worry about what effect will those 140K BTC will have on the price. Will the Mt. Gox class prove to be holders or will they sell it all as soon as they get it? That’s a question for another day, since the Mt. Gox class has until January 10th, 2023, to complete registration and select their preferred payment method. Related Reading: Mt Gox Gets Approval To Return 141,686 To Victims Affected In 2014 Hack The last time we....
California startup incubator Boost VC took a markedly different approach to its latest batch of early-stage companies, known in its own internal parlance as Tribe 6. While Boost VC's Tribe 5 was dominated by bitcoin and blockchain startups - accounting for 90% of the 25 assembled companies, Tribe 6 was primarily focused on another emerging technology, virtual reality (VR). But with their latest batch, CEO Adam Draper and co-founder Brayton Williams didn't abandon their long-standing commitment to bitcoin, so much as take a step back. Tribe 6 still featured five blockchain startups, all of....
Solana NFTs are swinging it better in revenue compared to Ethereum NFTs in just 24 hours which may be attributed to the hype of the highly awaited launching of the Trippin’ Ape Tribe collection. SOL is getting the kick from the Solana Summer, beefed up by the Trippin’ Ape Tribe collection launch. Solana, dubbed as […]