Currently the weekly supply increase of YFI is 30,000 per week. Vote under proposal #0 is if more YFI tokens should be minted.
I’m voting “FOR” on proposal #0 16 as continuous incentivization of LPs is important for growth of the platform. Most of reasons are the same with proposal 5.
- The YFI mining will be end in 3 days, while the whole crypto community needs more time to understand this complex mechanism. In such a short period of time, YFI cannot generate an effective market pricing.
- To stop the YFI mining will instantly result to a huge amount remove of the liquidity, this will be a huge negative to the YFI price because of the decreasing of fee rewards.
This is a proposal for reducing the weekly issuance rate with a model the same as BTC. Two months is enough to educate the crypto community while finishing the YFI generate event.
The pros of the bitcoin halving model:
- Halving every week is quite easy to be understood in the crypto community, and effective.
- Easy to make memes of YFI - “ YFI is the Bitcoin in Defi ” for virus spreading.
- Enough time for the markets to reach the equilibrium. (liquidity provider’s YFI revenue is halved every week while taking the same risks, will result in a steady change in liquidity)
In summary. If proposal #0 passes the issuance model should be altered as described above.
FOR: Support the new issuance model.
AGAINST: Do not support the new issuance model.
|Total for votes||3527868.1621 (80.25%)|
|Total against votes||867838.6309 (19.74%)|
Copyright and related rights waived via CC0.