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Source: Сointеlеgrаph

After months of uncertainty, the Tribe DAO held a vote to refund affected users of an $80 million exploit on decentralized finance (DeFi) platform Rari Capital’s liquidity pools.

After several rounds of voting and governance proposals, Tribe DAO, which includes Midas Capital, Rari Capital, Fei Protocol and Volt Protocol, has decided to hold a vote on September 18th with the intention of fully refunding the victims of the hack.

Data from the online voting platform Tally shows that 99% of those who voted voted in favor, and the proposal was implemented on September 20.

As described below the voting data, individual users will receive payouts in FEI and DAOs in DAI. Users will also be required to sign a release from any liability.

Fei founder Joey Santoro tweeted that payment would be made 24 hours after the vote.

According to CoinGecko, the total payment is 12.68 million FEI, which is trading at $0.97 at the time of writing, and 26.61 million DAI, which is trading at $1.00.

The vote was one of the final decisions on the management of the Tribe DAO, which announced plans to wind down.

In their August 20 proposal, they explained that the “challenging macro environment” and “specific issues such as the Rari Capital Fuse hack” were factors in the decision.

“At this stage, the DAO must consider the responsible choice to leave the protocol in a state that will secure the FEI binding without the need for governance.”

The entire process of redressing victims of the hack is ongoing, including several rounds of beta voting and online voting; however, none of them ended up being resolved for the affected users.

In a tweet dated September 20, Joey Santoro explained the challenges they all had in finding a solution and hopes other DAOs can learn from this incident.

Related: DeFi protocol shuts down months after Rari Fuse hack

“The biggest lesson here is that DAOs shouldn’t make decisions like this after the fact. A clear upfront policy, ideally with online enforcement, would save the DAO from having to venture into uncharted governance territory.”

After the hack, the hackers were offered a $10 million reward, but whether or not they responded was never made public.

Source: Сointеlеgrаph

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