Hello fellow gamblers (because that’s what we are right?)
I am trying to understand how to earn rewards from depositing YFI.
I initially accessed yearn.finance and the only place out of earn/zap/apr/vaults where it mentioned YFI was Vaults, so I deposited my YFI there, waited and nothing happened. So what is the purpose of depositing YFI in the vault?
Anyway, I learnt about gov.yearn.finance being the place where one should stake their YFI in order to generate yield, and so I did. I then registered to vote, but there was no proposals to vote for. Does the fact I could not vote mean that I won’t accrue any yield for my staked YFI, or that I won’t be able to unstake it? Or both? Or neither?
Also, at the end of this page: https://www.stakingrewards.com/earn/yearn-finance it says:
“At any given point in time, YFI holders can claim their share of rewards by burning their YFI tokens. The amount redeemed is equivalent to the share being burned / total supply of the token.”
Is that true? I thought YFI tokens couldn’t/shouldn’t be burned and there were other ways to unstake or claim rewards.
Having a look at the old done proposals I noticed the recent YIP 31
The proposal was about dividing any further inflation allocating 50% to LPs and 50% to multisig holders. Stuff like this could easily kill the whole system, I’m glad it was rejected but I find it the very close result (42% for, 58% against) quite concerning.