Suggestion: I have an additional suggestion which may add value: maybe the YFI deposited into the YFI governance vault be ‘insured’ for the duration of governance staking, the cost of the insurance coming out of the governance rewards: this idea that the YFI sitting in governance vaults is ‘insured’ will be an additional attraction and will incentivise many people.
Against, users that want insurance can get it for themselves.
I agree that if you want insurance you should have to personally pay for it.
Against, users have to pay for it. Doesn’t make sense anyway sorry/
Good as optional if user so decides.
Against also. Users should pay
With snapshot being implemented, it’s probably easy enough to have a vote post staking SC failure to decide how to re-distribute voting power. Since you can just take a snapshot pre-failure.
I’m not sure. The “users should have to pay themselves” does not resonate with me since users “can farm themselves” too, but there is a reason we use YFI. I know it’s not a 1to1 comparison, but I think it kinda holds up.
I would actually want to see a bit more of the numbers before voting a yay, and how much it would cost. But I think it would be responsible to do so.
Some variations of this proposal may be:
- Buy insurance with pool gains
- Add to the UI a toggle button that says “add insurance for this deposit” and does all the magic trick needed in order to have an insurance.
This is such a powerful use of the snapshot feature that I had not thought of before, and I gotta say I love it. It’s obviously a bit of a nuclear option only to be deployed in dire circumstances, but it definitely could help get us out of some catastrophic SC failure.
Is there even a way to buy insurance for a staking contract? I thought NXM only covers the vaults and earn
It’s like walking on the beach and suddenly a tsunami. Yes, insurance would be imperative even after a failure.