This RFC would like to gather feedback surrounding the ability for the TreasuryDAO to apply to the Tribe Turbo Whitelist and subsequently add FEI to our existing Rari Fuse Pool in order to have users and the DAO be able to deposit and leverage MTA for whitelisted Yield Strategies from Fei Protocol in order to generate cash flows.
This is primarily done to utilize currently unused MTA in the treasury and create cash flows to make our assets more productive.
It is suggested to allow the TreasuryDAO to apply for the Tribe Turbo Whitelist in order to subsequently add the FEI token to our existing Rari Fuse Pool and then leverage a portion of our idle MTA in the treasury to deposit these tokens for further use in the ecosystem by gaining the ability to borrow FEI from the pool at no additional interest, but for a split in revenue:
More information about this exciting new product can be found here.
This is particulary interesting because Tribe Turbo already accepts and encourages the use of ERC-4626 compliant strategies, which could have huge upside as we are deeply involved in this new token standard ourselves.
For instance, our own vaults could be one of these strategies in the future, making it possible for being able to effectively utilize our own product in a leveraged way, and therefore dogfood this opportunity with Tribe and create great rapport in the process.
An initial amount of 1M MTA is suggested, based upon initial timeframes and needs of the mStable Protocol for the remainder of 2022 and 2023.
The TreasuryDAO currently sits on vast amounts of unused and idle MTA, and the new Tribe Turbo Product from Fei Protocol would allow us to deposit these MTA into our existing Rari Fuse Pool and be able to subsequently take advantage of this capital to create returns and cash flows that would benefit the rest of the mStable ecosystem in perpetuity, or until we pay back the interest-free loan.
- Be able to utilize idle assets in the treasury and make them productive
- Be amongst the first to leverage this incredible technology from Fei Protocol
- ERC-4626 is built-in, which should make us extremely bullish by default
- Leveraged MTA is inaccessible until the loan is paid back
It is suggested that the community comment on this RFC in the coming days, and bearing no significant opposition or change in ideation, we would move ahead with this RFC in the coming week and create a formal draft proposal on Github to be used for review.
Meta Governors are encouraged to provide as much feedback as possible until then, so we can create the best possible outcome for mStable and its users.