**Airdrop 1000:1 Coin-Split To All Existing YFI Holders, While Increasing Supply to 30m **:
A 1000:1 token split would consist of airdropping all existing holders simultaneously 1000 times their current holdings of YFI, while simultaneously increasing YFI’s maximum and circulating supply by an equal factor of 1000 This has been previously proposed, on two occassions but could be worth revisiting to help take YFI to the next level.
- No one gets diluted because supply increases proportionally to holdings post-airdrop, just lowers the [psychological] barrier for entry to new market entrants.
Provide 30 days of notice until 2020-10-21T21:00:00Z so that there can be enough media awareness, coverage and preparations made such as ensuring major block explorers and reporting sites such as CoinMarketCap, GoinGecko, Etherscan, and others, update the supply/price post-airdrop, including ensuring there are no security risks or other technical challenges implementing this proposal, with the goal to increase the maximum supply by a factor of 1000, from 30,000 to 30,000,000 while airdropping those extra tokens proportionally to all existing YFI holders.
- For example, a user “Alice” pre-airdrop holds 0.10 YFI worth $3000 at a hypothetical rate of YFI/USD $30,000 pre-airdrop would subsequently own 100 full YFI post-airdrop valued at YFI/USD $30 each, assuming all else equal. In other words, the 100 full YFI that Alice holds post-airdrop would still equate to a value of $3,000, using the above example hypothetical market price.
People not familiar with YFI can be initially turned-off due to the price for each unit, as they don’t initially grasp that the supply is barely 30,000.
- While this limitation of the current supply is a strength (which I like), it could be holding back potential network effects people not familiar with the project, as new users could think the token is already expensive, or a scam, or not likely to go higher, creating a missed opportunity.
A 1000:1 coin split, and proportional 1000x increase of the maximum/circulating supply from its current values, simply moves the decimal place, sort to speak, as no one gets diluted, provided that both the 1000x airdrop and 1000x supply adjustment can happen successfully and simultaneously, to all existing holders of record (i.e. ethereum addresses that contain YFI) as of the snapshot moment when the adjustment occurs, provided it is technically feasible.
- While a similar proposal mentioned above did not pass, this topic appears to be resurfacing and something I thought about before even seeing those other threads. 1000x is an deal number. Spolier below for those dreaming of YFI trading at $1m per token.
$30bln market cap example: Given the current prices of YFI, it would be far easier (psychologically) for a user to buy 1 YFI for $30 knowing there is a 30m supply than buying 0.001 of 1 YFI when there is only 30,000 circulating. While I like the idea of the supply being limited to just 30,000 and like to imagine the token going to $1m (a market cap of $30b), many others might not, yet with a 1000x supply increase and 1000:1 proportional airdrop to all users as proposed here, it would still enable that vision to materialize, but would simply require that post-airdrop YFI moves from $30 up to $1000 which would achieve the same market cap of $30b post-airdrop (i.e., $1k30m = $30b == $1m30,000 = $30b ).
This YIP to Increase Supply by 1000x while airdropping 1000:1 new tokens to all existing YFI holders.