FIP-18: TribalChief Rewards

Forum Discussion:

https://tribe.fei.money/t/tribalchief-staking-rewards-upgrade/3350

Abstract

The TribalChief would allow flexibility to TRIBE holders in exactly how to allocate the current TRIBE distribution for liquidity mining rewards.

It can support a set of different incentivized pools, with custom emission rates. They can even allow users to lock up their tokens for fixed time periods to earn boosted rewards.

Proposal

Transition our current staking rewards from FEI-TRIBE LP to the “TribalChief”, the Tribe’s version of the SushiSwap MasterChef. The TribalChief distributes a constant amount of TRIBE rewards per block. The initial TRIBE per block will be 50. This would be a 33% decrease from the current reward distribution frequency ~75/block. Every quarter the Tribe will update the rewards distribution by subtracting 5 from the TRIBE per block. This would reach 0 after 2.5 years, a slight extension on the current rewards schedule. The distribution of rewards can be adjusted to the highest leverage FEI and TRIBE deployments for the protocol as needed.

Two separate proposals will come later in the event this one passes: Optimistic Approval for supporting changes to the rewards Lockups and conditions surrounding the lockups

This proposal includes a vote on determining how to allocate the initial rewards distribution. Each pool would earn their proportional amount of the TRIBE emissions relative to the total.

1000 AP Tier:

AAVE lending and borrowing (split 50/50) Curve liquidity incentives

250 AP Tier:

FeiRari Fuse Pool TRIBE Existing FEI-TRIBE LP rewards

100 AP Tier:

StakeDAO PoolTogether Idle Finance Ruler Protocol Gelato FEI-USDC UniV3 Bancor

Voting Rules

This will be an approval style vote where each of the above incentive pools will be an option and “more discussions” and “no TribalChief” options.

If “more discussions” receives more than 50% of the vote, we will continue discussions on the forum and determine an alternate proposal to bring forward. Likewise “no TribalChief” would end the discussions on the proposal if it receives more than 50% approval.

Each potentially incentivized token that receives more than 50% approval will be included in the initial rollout of the TribalChief at the specified allocation points level.

Note that the TribalChief rewards allocations will be subject to change after the initial rollout if it passes, these will just inform the initial allocation.