Gas subsidy to small YFI holders to take part in On chain governance

Summary:

Gas incentivisation for small YFI holders ( less than 100 USD or 10USD ) to make them take part in governance.

Abstract:

Part of profit from treasury or from the some part of yield from holders (as tax) will be used to buy ETH and reimbursed to small holders to take part in governance.

Motivation:

Gas fee is too high in Ethereum Network and untill layer 2 or eth 2.0 comes it will be too difficult for small holders to take part in on chain governance. Also in long term we will need DID ( Decentralised identifiers) and Quadratic Voting, for now temporarily we need gas subsidy.

Specification:

1- Collect a amount of profit ( say 10% ) of treasury also tax some yield of holders ( say 0.1-1%)
2- buy ETH from it and store it in some incentivisation and subsidy account.
3- Take snapshot of all YFI holders , and reimburse or Airdrop gas fee before or after a important governance action to small holders.

For
Create subsidy account and subsidise gas for small holders

Against:
Keep as it is

Poll:

3 Likes

The new forum signaler borrowed from Balancer seems to be working well. Could we simply move all voting to off-chain using it?

3 Likes

As I’m a small player it would help me still unsure if the gas I pay is equivalent of reward. But I want to be apart of governance so I dont mind paying the gas to vote.

1 Like

I don’t like the idea of gas subsidy. I believe that voting should moved mostly off-chain until Ethereum solves scaling, or until we move some of the Yearn services on layer 2.

This is how HAKKA wants to achieve voting off-chain:

This is how Balancer is doing it already:

We need to fix this for Yearn, hopefully soon. If us the little guys can vote, we’ll be more engaged in the community, and we’ll contribute more to the ecosystem ourselves–with whatever we can do. Yesterday, I lost all my profits from staking in governance by paying the gas costs of voting for a proposal THAT DIDN’T EVEN REACH QUORUM. It feels horrible. We need to fix this.

6 Likes