Giveth <> ICHI angel vault proposal

Yesterday @griff and I had a call with @graceless and we were discussing using $FEI as the stable because it’s more decentralized (at least more than $USDC). I’m not super familiar with it:

ICHI has been using $USDC as the stable for most of these Angel vaults, but apparently recently had a chat with $FEI and were talking launch a Vault w/ them… so it sounds like it would be a great opportunity for FEI, ICHI and Giveth all to collab.

Re: bridging: I’m not sure why we’d need to bridge anything? I think the idea is that we’d put the stables and GIV in the vault and just leave it for a good long time.

The $1M in stables is something we’d have to rally together! I Reaching out to people who are willing to loan us the stables, swap for GIV. Grace was connecting us to some possible partners.


Once the stable pool is created can anyone add liquidity to mint more $oneGIV? If that’s the case it would make it less gas intensive for users swapping between GC and mainnet to participate.

Didn’t FEI lose it’s peg less than a year ago? Why not go with the tried and true DAI that the native token of Gnosis Chain is pegged with.

To answer your first question, once $oneGIV has been deployed, any user will be able to mint more $oneGIV via the minting feature within ICHI’s app:

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Fei has a really really active Community and offers a lot of cool integrations… They lost their peg after launch because they were too successful (Raised about 1 billion dollars) and didn’t plan for that. It was a chaotic launch to say the least but since that, they have been about as stable as DAI



Fei is very active about supporting integrations and I think we are already well connected to MakerDAO and it would be cool to also build a connection with the $TRIBE Community as well

You make a fair point tho if we have to bridge to oneGIV to xDai then we might want to unwind it and have it connected to DAI… That said… I thing we should pay people in oneGIV and the best way to do that is to make a oneGIV/GIV pool on xDai. If we do that it doesn’t matter much what stable coin we use on mainnet.


Griff - if you would like to reach out to your DAI contacts and bridge the introduction to the ICHI team - we are more than happy to discuss this route as well!

DAI seems to be a tried and true solution and we use it already very often as our staple stable. Why make it more complicated for the open market and Givethers to interact with $oneGIV?

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I fully support this proposal and I would love to see FEI as the primary stablecoin solution! I am from the Rari Capital team within the Tribe DAO and we have all been long time supporters of Ichi and watching the Ichi Fuse Pool grow over the last couple of months have been very exciting to see. FEI would make for a perfect integration and would provide a new use case for FEI as we deepen liquidity within other protocols and continue to build a closer relationship with future collaborations such as Vaults.


Hey all from the Giveth community! I’m a core contributor at Rari Capital and to the Tribe DAO. At Rari we are proud to work closely and support numerous DAOs by helping them make Fuse pools. Recently we have been working with Ichi and they are currently the 3rd largest pool in Fuse with just around $100m.

We would love to begin a partnership with Giveth by having $oneGIV be largely $Fei backed and by helping your community set up a Fuse pool for the Ichi vault. We are working with dozens of projects and supporting them with our DAO focused infrastructure including Fuse, Turbo, and the PCV. We’d love to welcome you to the Tribe!


Hi - Brianna here from the Fei founding team. I would love to see Giveth use FEI, which is fully backed by decentralized collateral, and begin a partnership between our communities! The Tribe community is DAO2DAO focused, and I am sure there is much more we can collaborate on in the future.


Does the Tribe community have any interest in making donations to on the irl public good projects?

Or are there other integrations that might make sense?

It would be cool if this could be the start of a fun partnership! We are also VERY into DAO2DAO collabs! Token Swaps, donation integrations, etc. We are open for ideas!


Awesome post and proposal thank you @graceless. Would love to see this happen. Fully in support of using a decentralized stable like DAI or FEI - And to echo @Griff ^ above, I think a partnership between Fei and Giveth could be super cool and beneficial for both communities.


Hey @Griff! FEI agreed that they are willing to match your Angel Vault deposit 10% of whatever you put it in the vault, so if the Giveth community decides to move forward with this proposal and the FEI branded dollar, Giveth would put in $1M FEI and FEI would contribute $100k FEI in the Giveth Angel Vault (for greater price protection)!

I will leave it to Brianna @brianna if they are interested in donations on your public good projects as well!


This is amazing!!!

Should Giveth launch an ICHI Angel Vault?
  • Yes!
  • Maybe - I have concerns & will comment
  • No, thanks
  • Abstain

0 voters

Really cool proposal. I voted YES.

I went into the ICHI documentation as a lot of this was new to me. I have one concern though… one of the risks of AVs are that the wall might serve as a protection for people to dump a lot of tokens at almost the same price, till the wall breaks.

Did the calculation of the 1M stable /4M GIV was made considering the abusive benefits taken by the MiddleFinger?


Hi @graceless or @brianna can we discuss the details of this? Do we want to make a token swap, or we sell you the GIV after the fundraise? Let’s discuss this with Griff in more detail on discord perhaps in a group. Thx!

I am unsure what exactly you’re asking here! Can you please clarify/re-phrase?

Hey @yass - thank you for your interest and participation.

Happy to explain this on a call. There is no token swap necessary here, and there is no selling GIV tokens involved in this process! Calendly - Grace Pfluger

We are proposing a solution for protocol owned liquidity to protect the token price. We plan to mint a branded dollar, oneGIV with FEI and GIV.

Hi @JackLongarzo, we are actually looking into setting up a Fuse Pool! would be great if we can connect and go through the details and how we can set it up together. Shall we speak on discord? Yass#3392

Sorry, I missed this comment. But it’s all right now.

I was affraid the buy wall could be broken by a few actors that abused our liquidity mining opportunities. But I analyzed their wallets and with the measures the DAO has taken I consider it’s safe :slight_smile: