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The merger of Rari Governance Token (RGT) and Tribe (TRIBE)
The merger has 4 main components: Governance, Token Swap, RageQuit, GFX Payment
Governance
Governance for all Rari products will remain identical, simply substituting the RGT token out for TRIBE and using TRIBE quorum/proposal threshold of 25M and 2.5M, respectively. We will deploy a new OZ Governor Bravo that is powered by TRIBE to govern the existing Rari timelock. There will be 2 Timelocks and governance tabs on Tally, both powered by TRIBE.
Token Swap
All RGT will be able to convert to TRIBE at a 26.705673430 exchange rate (e.g. 10 RGT = ~267 TRIBE).
This contract will have an unset expiration date. If the expiration date is set by TRIBE governance post-merger, it will be at least 180 days in the future from the moment it is set.
RageQuit
The RageQuit allows TRIBE holders from block 13623378 to be able to sell their TRIBE for newly minted FEI at the "Intrinsic Value". Intrinsic Value is calculated as Protocol equity / circulating TRIBE. Protocol equity is PCV - user FEI, and circulating TRIBE is total supply - treasury - liquidity mining TRIBE.
These holders can only exchange TRIBE up to the amount held at block 13623378. To check availability, look in the json map here: fei-protocol-core/ragequit_data.json at feat/merger · fei-protocol/fei-protocol-core · GitHub.
Note that users can ragequit partial amounts, and ragequit multiple times up to a cumulative value of the amount held at block 13623378.
GFX Payment
GFX will receive a one-time payment of 315,909.06 FEI for their work on the merger proposal.
