Good morning all!
As a huge fan and early participant of Andre’s work and the yearn eco-system, I’m saddened to have to be posting this as it’s clear the discussion was never given any real opportunity.
Myself and MANY others have been extremely disappointed after we learned earlier this week that YIP-37 planned not to distribute the pre-CRV rewards earned by the yVault depositors directly to those who provided liquidity, and did not even offer it as a point of discussion within the poll.
If I understand correctly, YIP-38 suggests keeping the BAL rewards from the yCRV/YFII Balance pool which was used in the same yVault strategy?
I understand that yearn is governed by the owners of YFI, this is part of the amazing value surrounding the protocol, but this is a serious violation of peoples rights taking place. Voting to steal (yes, it’s stealing, just like the banks do when they decide to use your money on deposit for their own financial gain without permission and make a vote to ‘legalise’ on their self appointed authority) the rewards earned from those who provided liquidity is a serious misstep in the growth of the yearn protocol and steps a dangerous precedent for future farming strategies.
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100% agree with you. Over that it show how the governance is badly set right now. With only 7% of all the yfi, you can decide whatever you want. The quorum is way too low.
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I deposited my yCurve in the vault for weeks rather than farming directly on Curve.fi because Charlie (Curve dev) said multiple times on Discord that Andre would distribute the pre-CRV to the original vault depositors. Today I feel abused by YFI voters.
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I think a new proposal should be passed where anytine atleast 40%-60% of the total supply must be voting to pass a proposal ,then people will take part in governance.
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I agree with the sentiments addressed here. Is anyone else on the Discord? I’d love to set up a time to chat to see if we can get a new YIP that addresses these issues.
Can someone make an argument why it would be more profitable for them to not have the 2.5 boost for daily crv distribution (that doesn’t include ‘promised’)? Because I find it seriously confusing.
The amount distributed vested over a year / day is minimal compared to the amount that is distributed daily, and if we multiply this by 2.5, it’s not even close.
So again, I really don’t see the argument here, except ’ i was promised’ .
And no, i’m not a mayor YFI stakeholder, and yes I had and have staked in the yVault, expecting the Crv rewards but now something better has come along.
Maybe I just don’t see the point here.
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Closed since inactive. Feel free to reopen if this topic is still relevant.