Here’s a look at some of the lessons that we can learn from the split of Rari Capital and Fei:
the merger “a new primitive to align incentives between Web3 communities going forward.” RARI token holders were given the opportunity to swap their holdings for TRIBE, earning staking in the powerhouse project – and allowing both protocols to operate under a shared vision andAll was going according to plan until Rari’s core product, an “open money market” called Fuse, was attacked.
A vote was called to reimburse victims of the attack using Tribe’s treasury. It passed with high participation and about 75% of voters in favor. But details of the payout scheme were scant in the initial vote, and once there was a better sense of who would be paying for whom, Fei’s leadership reneged on the vote.process non-binding because it wasn’t “on-chain.” Rari’s victims would still be reimbursed under a new plan, but only partially.
Today, the decentralized autonomous organizations are more or less back where they started, after a series of four governance votes over the past months. It’s a story of partisan politics, self-interested voting and the challenges of community governance in an age where decisions are supposed to follow pre-programmed code.
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