Hey all. Super interesting discussion. I’d like to chime in with a few thoughts as I think this is a significant moment for YFI governance, and until governance becomes more robust (and resistant to capture) there are many ways to royally screw this up. I can only hope that the number one thing on everyone’s minds it to not rush too fast towards any decisions that has not discussed for weeks.
There appear to be two similar but very different proposals here. One is Andre’s referral program here, which may or may not be a good idea and has its own merits to be discussed in that thread. The second is the proposal in this thread which argues for a share of governance rights.
IMO there shouldn’t be any current push towards sharing anything right now with YFII for a few reasons.
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YFII has yet to legitimize itself. TVL is of course meaningless. YFI’s value proposition has always been its community and early adopters, not its TVL or any price/pumpy-related metric. For YFII to legitimize itself it needs to demonstrate organic development, innovation, and traction. Has it really reached that bar? There is a non-negligible chance that YFII goes away completely after rewards end. If the community wishes to merge in any manner, certainly it can wait 2 months to scope out the situation. What’s the rush?
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Has the chat and forums genuinely been clamoring for a merge? Has the community been pushing for this? Where did this idea even emerge from? AFAICT, most YFI members are content to let the fork go on its own way. Down the line, perhaps something can be considered but as of right now there’s no need and there’s no urgency.
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The entire point of on-chain governance is that people trust the plutocracy and wisdom of the community. The people who are unhappy can (but usually never do) go off and start their own fork. The concept of the fork re-merging with the original turns on-chain governance into a complete sham. It undermines the original governance process.
The counter-argument to all this is that governance can, and should, do whatever it wants. It can change its mind about YIP8 / YFII or be more inclusive and share governance rights. If that’s the path that the community ultimately goes down, I urge everyone in this community to be cautious about governance capture, give the YFI community enough time to discuss various options, and wait for YFII rewards to finish before merging anything to confirm that their community is strong enough to survive on its own. Otherwise any fork that offers huge farming rewards can appear to be legitimate and capture their way into YFI.
Additionally, please note that the poll can be trivially Sybil attacked. Next time please tick the box that says ‘Show who voted’. It is strange to me that the comments are completely opposite from the poll results.