Abstract

Propose to MakerDAO to open a FEI-A vault that will be used by TribeDAO to deploy more capital and protect the peg for temporary imbalances.

Summary

As discussed previously, Tribe DAO need to improve it’s DAI funding to keep the peg strong and growth significantly.

This proposal suggest to get a line of credit from MakerDAO. MakerDAO has currently excess reserves (4B of idle USDC). It will be a win for both protocol (stable source of revenues for MakerDAO and stable funding for TribeDAO) and a good PR move to show partnership between those DeFi stablecoins.

This proposal is complementary to the proposal for borrowing on Aave as TribeDAO need to keep a diversified source of funding.

The process need to start by publishing a MIP6 on MakerDAO forum on behalf of the TribeDAO community.

Specification

• Publish the MIP6 detailed here on MakerDAO forum
• If accepted, develop a PCV sentinel that refill the DAI PSM by borrowing on MakerDAO, when a drip doesn’t refill it.