[FIP 105] Allocate $5,000 to seek legal advice re the FEI situation

I am proposing to allocate up to $5,000 from the treasury to seek legal advice re the FEI situation.
A DAO seeking legal actions against another DAO is not what we are looking for but the FEI so-called ‘DAO’ has left us with no choice.

For anyone not yet in the loop of what has been going on you can read https://twitter.com/samkazemian/status/1560922661387001856

The FEI team (and definitely not the whole community that originally voted to repay everyone) basically defrauded Frax, Olympus, and the other DAOs, stealing $13m of the protocol’s funds (essentially stealing from every FXS holder).

They admit guilt for the hack by repaying the smaller victims but refuse to pay back FRAX and other DAOs even though the funds are there. They would rather pocket it to TRIBE holders, and this is not acceptable because:
a. we were early investors, helped them bootstrap and took a very large risk, and
b. we are a DAO, just like them, building DeFi for the common people.

There is already a class action brewing against the FEI founders for their ICO fiasco. Let’s put on the team members some more individual pressure. It is not too late for them to do the right thing.


This proposal is up for voting here: Snapshot