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.
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Against, users that want insurance can get it for themselves.
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I agree that if you want insurance you should have to personally pay for it.
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Against, users have to pay for it. Doesn’t make sense anyway sorry/
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Good as optional if user so decides.
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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.
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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.
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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.
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