To have a vote on locking the minting keys, phrased as “at this time the minting keys should be locked” to avoid confusion that a negative vote will not exclude future votes on the same exact proposal or topic. It is important for the governors to be able to vote for a breather and “living within their means” as often as they vote on new plans to mint.
Simply that a “yes” vote locks the minting keys. A “no” vote means no change and does not exclude future votes. This allows time to see, if YIP30 passes, how the implementation went through observation over 6-12 months at which time an educated decision may be made on whether to permanently burn the keys. Although not part of this YIP, it is the hope of the author to include after the 1 year hold a burn vote.
At the current time, a flood of people are figuring how to spend the tens of millions raised by the YFI platform in the form of equity currently held by the DAO simply in the value of their token such that if it is printed this value is then “used” (think like Ampleforth the total mcap stays the same). The system already rewards liquidity providers innately with a good annual return as well it has another mechanism in the aDAI pool to reward investors if future voted. Additionally, platforms of YFI may release their own incentive tokens, suggesting YFI wouldnt need to fill this role.
No more minting keys means the only access to YFI is through investing. Everyone has a fair shot to buy in now at whatever price if theyre so convinced it will go up then that seems savvy. These prints are lobbyed on by the people who want the printed money, fine; and maybe they deserve some for being our backbone – but they are the liquidity, not the governors and most of them dont care but to sell the token for more cash, and regardless of whether we invent an incentive token moving forward, we should clearly say that our governance token is exactly not an incentive token.
Vote “YES”/“APPROVE”, 10 days after YIP30 voting and potential implementation concludes: time lock minting keys for 1 year with expected discussion to occur in 6 months at which time a burn vote proceeds
Vote “NO” / “AGAINST”: at the current time minting keys will stay in the hands of the multisig unlocked