YIP-57: Funding Yearn's Future
AI summary
This proposal, YIP-57, suggests minting 6,666 new YFI tokens to secure Yearn's future. Approximately one-third of these new tokens will be distributed to key contributors as vesting retention packages, aiming to keep talented individuals engaged with the project. The remaining two-thirds will be placed into the Yearn Treasury, providing funds for future initiatives like contributor incentives, liquidity mining, staking rewards, and potential mergers or acquisitions. The proposal seeks to address the limitations of Yearn's original 'fair launch' model, which did not include ongoing incentives for contributors or a substantial treasury for growth.
If passed, Yearn will mint 6,666 new YFI tokens, increasing the total supply. Key contributors will receive a portion of these tokens as incentives, while the Yearn Treasury will gain significant capital for strategic growth and operations. This benefits the protocol by enhancing its ability to retain talent and fund future development, potentially strengthening its competitive position in the DeFi space. YFI holders will see their token supply diluted, but the proposal argues this is offset by the long-term benefits of a more robust and well-funded protocol.
Voting results
Votes over time
x-axis = % of voting window elapsed · y-axis = cumulative VP per choice
🐳 Whale votes
4 votes > 5% VPFull proposal
Authors
@aleks-blockchaincap @banteg @dudesahn @ekrenzke @lehnberg @milkyklim @ryanwatkins @srs-parafi @tracheopteryx @vooncer @yfi-cent
Summary
Safeguard Yearn's future development. Mint 6,666 YFI. Use ~1/3 of minted YFI to reward key contributors and put ~2/3 of minted YFI in the Treasury under the control of the community through future proposals.
Abstract
If adopted, this proposal seeks to:
- Mint 6,666 YFI.
- Allocate ~1/3 of the minted YFI to key contributors as vesting retention packages.
- Allocate the remaining ~2/3 to the Treasury, which will be deployed through e…