Introducing your yTeam Signers!

yTeam Signers

In accordance with YIP-61: Governance 2.0 we are happy to announce that after much discussion and consideration we have established an initial set of yTeam signers!

yTeam Powers Consensus Signers
yBrain Manage Strategies 2/9 multisig @SamPriestley, @poolpitako, @orbxball, @wavey, @emilianobonassi, @akshaynexus, @jmonteer, @mattdw, @dudesahn
yBudget Set Budgets 3/5 social @srs-parafi, @YFI-Cent, @milkyklim, @lehnberg, @franklin
yChad* Execution Power; Veto Power; Transitonary Power 6/9 multisig @devops199fan, @RyanWatkins, @nanexcool, @cp287, @milkyklim, @banteg, @vsh_p2p, @Daryllautk, @Lumberg
yDev Define Yearn Protocol; Manage Protocol; Add Strategies 3/5 social @banteg, @fubuloubu, @doug, @lbertenasco, @x48
yFarm Farm Treasury 3/5 social @fameal, @lehnberg, @banteg, @milkyklim, @franklin
yGuard Emergency Powers 2/9 multisig @poolpitako, @fubuloubu, @doug, @lbertenasco, @SamPriestley, @milkyklim, @fameal, @banteg
yOps Ratify yTeam Signers 4/5 social @banteg, @lehnberg, @milkyklim, @Dark, @fameal
yPeople Pay Team 4/5 social @x48, @lehnberg, @doug, @lbertenasco, @franklin
yTx Delegate Transactions 1/3 social @banteg, @poolpitako, @milkyklim

*yChad is the main multisig, its signers are determined by YFI holders who have the ‘Change Multisig Signers’ power. Signers were recently updated in YIP-62.

Some Thoughts

The following are my thoughts on how this all works. These thoughts have no official power beyond what was passed in YIP-61. Some may be helpful, others less so. Let’s improve this together.

What is the Difference Between a yTeam and a Normal Workgroup?

As per YIP-61 there are currently 9 yTeams (if we include the multisig, yChad). The difference between any workgroup and a yTeam is that a yTeam is empowered to wield granular decision-making powers and act independently in the best interest of yearn within their constrained domain of action.

What Does Being a “Signer” Mean?

Being a signer on a yTeam means you are responsible for making decisions. Since each yTeam may have different consensus mechanisms and these will change as new technologies become available signing may mean anything from just writing “yes” or “no” in a telegram group (what we’re calling social consensus) to signing a gnosis safe transaction, or something else in the future.

Being a signer does not mean you have to be the world expert in your domain. You certainly have to understand it, but it is more important that you share Yearn’s values, are a great collaborator, can make sense of information and resolve differing viewpoints, and most importantly that you can make good decisions. Each yTeam is a little village and will have tons of support. For instance on the yFarm team, it’s more important that the signers have high integrity and are properly aligned with yearn’s values than the most galaxy-sized farm brains. They can add top farmers to their telegram group and discuss opportunities together, get proposals, and then make decisions.

How Are Signers Determined?

From YIP-61:

Each yTeam will be organized around a group of signers. The signers for each yTeam should be nominated by rough social consensus of that yTeam and be reasonably acceptable to the Ops yTeam (‘yOps’). yTeam signers are empowered to choose their own consensus mechanism for decision-making and curate their own discussion and feedback groups on telegram. Decisions issued by yTeams will be executed on-chain by the Multisig until a more decentralized system is approved for implementation.

How Will yTeams Function Day to Day?

We will figure this out together, but here’s a starting point:

  • Home Groups
    • Each yTeam has a home: a telegram group
    • The signers of the yTeam are the admins of their home group and they curate the group, adding and removing contributors at their discretion
    • All decisions made by the yTeam should be discussed in their home group
  • Lead, Partner, Follow
    • Within a yTeam home group there are three kinds of contributors: Leads (the signers), Partners (active contributors doing work), and Follows (contributors that don’t do a lot of work in the group but want to stay informed)
    • Non-signers in the group (the partners and follows) can weigh in, do work, or make proposals, but only the signers decide on taking any action. The difference between partner and follow can be fluid.
    • Signers are doers and need to be deeply involved in every decision they make, but they do not need to know everything about their domain. Each yTeam is a community and signers can lean on the other contributors in their home groups or other groups for expertise, advice, and support.
  • Consensus Processes
    • In general, signers on each yTeam will decide how they make decisions. For yTeams that make on-chain decisions (yChad, yGuard, yBrain) the consensus process is determined by YFI holders (yChad) or through rough consensus of Doers (yGuard, yBrain).
    • Consensus parameters (ie, m of n parameters) are listed for each yTeam.
    • Social consensus means that signers will decide through some off-chain process within their home groups.
  • Proposals, Decisions, and Execution
    • For on-chain yTeams this follows the normal pattern. For off-chain yTeams each can decide this flow.
    • A simple off-chain flow:
      • Proposal: anyone in the yTeam home group suggests an action by labelling it Proposal
      • Decision: after suitable discussion, each signer replies to the proposal with yes or no
      • Execution: if the m of n threshold is reached, then the proposal has passed, and a designated signer forwards the proposal to yTx who makes the on-chain tx for yChad to sign and execute.
    • Possible additions or improvments
      • Proposals could be more formal, for instance a templated notion page or a doc via IPFS link to ensure the exact proposal decided on is what goes to yTx
      • Need some system of archiving all decisions and making them publicly visible
      • The hand-off from yTeam to yTx could have more security or process control
  • Changing Signers
    • For now yOps has the ‘Change yTeam Signers’ power and yChad has the ‘Change Multisig Signers’ power which refers only to yChad.
    • Potentially each yTeam could have the power to change their own signers in the future, with YFI holders having the power to override and yChad having the power to veto
    • Signers should not get too attached to their roles. As each yTeam works in its home group, some partners will demonstrate great integrity and wisdom — they should rotate in to replace older signers where appropriate to keep yearn fresh and vibrant.
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