DAO Tribe Votes to Reimburse $80M Rari Hack Victims

The vote to reimburse users affected by the hack was one of the final governance decisions for Tribe DAO which announced its intention to withdraw. New

After months of uncertainty, the DAO Tribe has voted to reimburse affected users of the exploit $80 million from the liquidity pools of Rari Capital's decentralized finance (DeFi) platform.

After multiple ballots and governance proposals, Tribe DAO, which consists of Midas Capital, Rari Capital, Fei Protocol, and Volt Protocol, made the decision to vote on Sunday with the intention of providing full reimbursement to hack victims .

Data from on-chain voting platform Tally shows that 99% of those who voted were in favor and the proposal was executed on Tuesday.

According to the description under the voting data, individual users will be reimbursed in Fei USD (FEI), while DAOs will be paid in Dai (DAI). Users will also be required to sign a disclaimer.

In a September 20 Twitter post, Fei founder Joey Santoro tweeted that payment would be made 24 hours after the vote.

1/ The Rari Fuse Hack Payment went on-chain to FULLY pay victims in 24 hours.

This is a great moment in these final Tribe DAO governance decisions.

The total payout amount is 12.68 million FEI, which trades at $0.97 at the time of writing, and 26.61 million DAI, which trades at $1, according to the data ...