YIP 14: yEarn Rewards Reserve Source

AuthorYieldBouncer
Discussions-Tohttps://gov.yearn.finance/t/yip-14-yearn-rewards-reserve/136
StatusRejected
Created2020-07-24

Simple Summary

Without a cash reserve, it is difficult to sustain and improve the protocol further. As a community, we need to start capturing and reserving a percentage of the value being generated by yEarn in order to support further development, improve security, sponsor research, e.t.c.

To get started, I propose we capture 5% of all yields earned through yEarn to be used as a reserve for the protocol.

Abstract

@andre.cronje has done an amazing job so far at developing the protocol. As a community, we should support his efforts. To achieve that, I propose that we should start reserving 5% of all yields earned for protocol use. How we plan to use it and what would be the sensible threshold for the reserve percentage can be determined in a different proposal

Motivation

One of the best things about the yEarn ecosystem is that there isn’t any pre-mined tokens. No money was taken from VC nor did @andre.cronje attempted to IXO (e.g. IDO, ICO) YFI tokens. This is as good as we can get when it comes to decentralization for a working and profitable defi project! Unfortunately, there are also downsides for not having some cash reserved:

  • Unable to cover expensive audits for contracts
  • Incentive to continue building awesome products
  • Fund/grants to sponsor researches in order to improve the products
  • General marketing and user support

FOR: Reserve 5% of all yields earned through yEarn for protocol use.

AGAINST: No changes. All rewards will continue to distribute evenly among YFI stakers.

Metadata

Name Value
Proposed by 0x09173487b272311Edda01F45f97911aEB6aBd602
Total for votes 332839.5446 (99.69%)
Total against votes 1005.9567 (0.30%)
Quorum 3.06% 𐄂
Start block 10525527
End block 10542807

Source: yieldfarming.info YFI Governance Information

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