Tribe DAO proposed a $157 million redemption plan to distribute all of its assets to Tribe holders and those hurt by the Rari Capital attack

According to BlockBeats, on August 20, Fei Labs put forward TIP-121 proposal in the Tribe DAO Governance Forum, which proposed to distribute the remaining assets of the DAO to the Tribe holders, And compensate users who were damaged in the "Rari Capital Pool on Fuse hack" incident. The snapshot will take place next week and a vote will be held after it is completed. For TRIBE holders, TRIBE DAO currently controls assets totaling approximately $141 million, which will be split pro rata. For users who were damaged by the hack, Tribe DAO will compensate a total of 88.9 million Tribe, or about $16 million. Fei Labs stated that given the current global macro environment and the future face of regulatory risks, rational allocation of DAO assets and removal of governance is a responsible development direction, which eliminates many risks and challenges faced by Tribe DAO. Any increasing technical, financial and future regulatory risks could result in the project being worse than the status quo. Upon completion of this proposal, Fei Labs will withdraw from Tribe DAO and no longer have any governance rights.