Fei-Rari Union Approved, Marking One the Largest DAO Mergers in DeFi History
A vote to merge Rari Capital, an open interest rate protocol that allows the creation of permissionless lending pools, and Fei Protocol, issuer on the native algorithmic stablecoin FEI, was approved on Tuesday at Ethereum (ETH) block height 13850929.
Looking at the total value locked (TVL) in these projects, per DeFi Pulse, Rari Capital currently has USD 1.384bn, and Fei Protocol stands at USD 845.664m - making the combined TVL in the merged entity 2.23bn.
Among Rari’s governance token (RGT) holders, 93% approved the measure while 1% rejected it, and the remaining ~6% abstained from voting. Similarly, 90% of Fei’s governance token (TRIBE) holders voted in favor of the measure while the remaining ~10% abstained from voting, and no one opposed.
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